DeepSeek founder’s High-Flyer ranks among China’s top hedge-fund firms in 2025

According to the ranking published on Monday by data provider Shenzhen PaiPaiWang Investment & Management, High-Flyer only trailed behind Lingjun Investment, which posted a return of 73.5 per cent in 2025.

All the top performers were quantitative hedge funds, underscoring the popularity in China of using complex quantitative models to detect investment opportunities.

Quant funds use mathematical and statistical techniques, together with automated algorithms and advanced quantitative models, to make investment decisions and execute trades.

Still, some smaller funds achieved higher returns last year, according to the Shenzhen PaiPaiWang report. Those included Shanghai-based Hengshui Asset Management, with a 239 per cent return, and Zhihe Asset Management, with a 108 per cent annual yield.