V-Capital’s Liu Jing says disciplined pricing key to avoiding overpaying in M&A

  • V-Capital’s deputy general manager Liu Jing told an M&A summit in Shanghai that deal success hinges on early conviction about sector direction.
  • He flagged post-merger integration as the main risk period, calling closing “the start” of execution, not the finish.
  • He urged counter-cyclical buying discipline to avoid overpaying, warning high entry valuations can distort strategy and raise execution pressure.
  • He said V-Capital manages CNY 300 billion, with nearly CNY 200 billion deployed in domestic and cross-border M&A.
  • He said the firm has recently focused on carve-outs, including acquiring an automotive sensor business from a Fortune 500 group.


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