Led by the sluggish A-share market this year, China’s private equity fund sector has recorded a negative average income of -7.18%, The Paper reported.

Due to the continued depreciation of the yuan and the fact that some listed companies have reported poor performance in mid-term reports, private equity funds investing in stocks recorded an average loss of 4.17% in August, expanding to a total loss of 10.38%.

As the stock market bottoms out, private equity institutions are carrying out investigations to find suitable investment targets.

In August alone, 342 private equity institutions surveyed 1,680 times regarding 236 listed companies. That’s a 93.1% increase compare to that of July.

Meanwhile, electronic components, industrial machinery, basic chemicals, communications equipment, information technology information and food processing are the top industries appealing to private equity firms.