1, a new round of premium acquisition by investors (such as successful transfer from A to B)

2. Repurchase by specific entities (generally repurchased by GP or other entities that do not meet the evaluation requirements)

3, through mergers and acquisitions (generally by the larger companies in the industry, to achieve exit)

4. Exit the normal listing (after the listing of the New Third Board and the Main Board, the secondary market will sell off)

Supplement: Private equity funds test the management level of GP managers, and pay attention to screening before purchasing to avoid risks. Generally, it is easier to enter than to exit.