According to data from the Private Equity Network, as of the end of May this year, products managed by hundreds of private equity firms have secured spots among the top ten shareholders of 97 ETFs listed within the year, collectively holding nearly 1.8 billion shares. Notably, over 30 STAR Market ETFs have been subscribed by private equity firms, amounting to a total of nearly 600 million shares. Furthermore, several prominent private equity firms have significantly invested in the Hong Kong stock internet sector.