Recently, as the third-quarter reports from listed companies have been intensively disclosed, the portfolio realignments and stock exchanges carried out by renowned private equity firms—such as Gaoyi Asset Management, Ruijun Asset Management, and Juming Investment—have gradually been brought to public attention. Zijin Mining, which was previously a significant holding of private equity mogul Deng Xiaofeng, yielded him substantial profits in the third quarter. Meanwhile, Feng Liu substantially reduced his stake in his former flagship stock, Hikvision. While actively repositioning their portfolios and cashing in on gains, private equity institutions are also on the lookout for fresh investment themes in sectors that promise higher growth potential and certainty. Looking ahead, these institutions anticipate that as more companies experience performance recoveries, there will be a broader playing field for fundamental stock selection. They will persist in uncovering structural opportunities within the market.