Recently, the [FirstNewVoice] 2026 Q2 China's Most Active Institutions Series List was grandly released. Efung Capital was honored with the Top 30 Most Active Venture Capital Institutions in China for Q2 2026 and the Top 10 Most Active Investment Institutions in Healthcare.

In the second quarter of 2026, China's equity investment market accelerated its differentiation amid structural recovery, with investment logic, valuation systems, and exit pathways undergoing deeper-level restructuring. According to FirstNewVoice's continuous tracking research over 22 consecutive quarters, nearly 6,000 investment deals were completed in the first half of 2026, with a total value exceeding RMB 560 billion, achieving positive growth for multiple consecutive quarters. Nearly 4,000 new funds were raised, with a scale surpassing RMB 1 trillion. IPO exits exceeded 1,700, and M&A exits approached 370, representing year-on-year increases of nearly 200% and 100%, respectively. Market consensus is highly concentrated—investment across the entire AI industry chain is currently the most definitive theme, and the primary market has entered a golden period for transactions.

Looking ahead, Efung Capital will uphold its original aspiration of "investing early, investing small, investing in innovation, and investing in hard-core technology." Amid the wave of AI reshaping the pharmaceutical R&D paradigm, we will proactively embrace technological change, deeply integrate AI capabilities into investment decision-making and the full-chain of industrial empowerment, resonate with the times, and walk alongside innovation. Leveraging the power of capital, we will drive life science achievements to benefit more lives, and stand guard for the next "dawn" of China's pharmaceutical innovation.

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