After PE funds invest in companies, they realize profits through exit after the company's equity appreciation. The main exit methods include: IPO listing, mergers and acquisitions, management buybacks and equity transfers.

The current main exit channel in China is IPO listing, which is also the most ideal exit method for returns. The capital premium function of the capital market will bring superior returns to investment.

Mergers and acquisitions are mainly acquisitions and other behaviors between companies in the same industry. It is a process of industrial chain integration and a common channel for exit after large-scale capital investment.

Management buybacks are the least ideal way to earn returns, and are only equivalent to earning a fixed annual return higher than savings over the same period.