A short list, applied strictly. If a company does not meet it, we would rather say no early than spend six months arriving at the same answer.
标准不长，但严格执行。如果一家企业不符合，我们宁愿尽早说不，也不愿花六个月得出同样的结论。
What we look for
我们看重什么
The SME / mid-market segment. Profitable already — we are not underwriting a path to breakeven.
中小型及中型市场区间。企业须已实现盈利——我们不会为一条通往盈亏平衡的路径买单。
Significant potential to grow organically and/or through M&A, with a market that supports it.
具备通过内生增长和／或并购整合实现显著成长的潜力，且所处市场能够支撑这一增长。
A management team with the desire to grow and transform the business — and to stay and do it.
管理团队有意愿推动企业实现增长与转型——并且愿意留下来亲自执行。
The ambition and the realistic potential to expand beyond the home market.
具备走出本土市场的雄心，以及现实可行的扩张潜力。
What we do not do
我们不做什么
We do not invest in start-ups. We do not invest in small companies below our EBITDA threshold. We do not make venture capital investments. These are not judgements about those asset classes — they are simply outside what our team and our capital are built to do well.
我们不投资初创企业；不投资 EBITDA 低于门槛的小型企业；也不做风险投资。 这并非对上述资产类别的评价，而只是因为它们超出了我们的团队与资本所擅长的范围。
Process
投资流程
Our process is deliberately short and personal. Because the capital is our own, there is no external investment committee, no fund documentation to negotiate and no syndication risk — which means we can give a clear answer quickly, in either direction.
我们的流程刻意做得简短而直接。由于资金来自我们自身，不存在外部投资决策委员会、 无需谈判基金文件、也没有联合募集的不确定性——因此无论结论是肯定还是否定，我们都能很快给出明确答复。
A direct conversation with the owner or management team. No intermediary layers.
与企业主或管理团队直接沟通，不设中间层。
Sector, size, growth path and — most importantly — whether we can add anything.
评估行业、规模、增长路径，以及最关键的一点：我们能否真正贡献价值。
Commercial, financial and operational review, with independent validation of the numbers that matter.
开展商业、财务与运营尽调，并对关键数据进行独立验证。
Control or joint control, board composition, incentive alignment with management.
确定控制权或共同控制权安排、董事会构成，以及与管理层的激励对齐机制。
Add-on acquisitions, systems, internationalisation. This is the longest phase by design.
推进追加并购、系统建设与国际化。这是流程中刻意设计为最长的阶段。
The secure investor area is provided to existing partners on request. Please contact your relationship manager, or write to ir@jadeholding.example, to have access arranged.
投资者专区仅向既有合作方开放。请联系您的客户经理，或发送邮件至 ir@jadeholding.example 申请开通。
