{
  "report_slug": "western-winter-2026",
  "date": "2026-09-30",
  "analysis_kind": "dated_comparison_supplement",
  "original_frozen_figures_preserved": true,
  "original_data_hashes": {
    "instrument.json": "b603791366846bc8048c85cbdc275c645da432f1e32960c7788100793270fa81",
    "amounts.json": "36c50cf83ac94076476abcfd43a1a0caadc86c64019aafb1a29178dd63bb97af",
    "year-2025.json": "7901857524d43a886c278b7f3c84fbdd10604547a40dd1232a416fd4e7bfab58",
    "anchors.json": "5b5b771d5857cd8574735fedd266c15c3c815220fced2f6614a8f99d4ebf4cdc",
    "panel.json": "8b3aad3b273e135e3217f107782355087a9f9860513f05ddfb64cedcd8df6f04",
    "series.json": "4b2389287058606163b63ad72ac8fd71d8143fdd6a2ac5febae5efc32853cb80",
    "split.json": "fc63246c6c1092482642a2aa1e7c323d260dcdfceb3af758d8b68ffe1588a14a",
    "graduation.json": "9dea9fa408741164d40d4dee3caaad6abd03bb97986407edeaf68642ef63fb48"
  },
  "row_attribution": "Original per-row membership is not retained for each published aggregate. Differences from the original edition are not attributed solely to market activity or one classifier change.",
  "counting_unit": "Current census companies; events source_type=funding_rounds only; calendar years 2021 and 2025; stated equity stages. Current data re-read for historical years, not a retained historical collection-rate panel.",
  "country_year": {
    "CN": {
      "2021": {
        "records": 101,
        "equity_records": 66,
        "same_round_equity": 65
      },
      "2025": {
        "records": 135,
        "equity_records": 84,
        "same_round_equity": 83
      }
    },
    "US": {
      "2021": {
        "records": 207,
        "equity_records": 92,
        "same_round_equity": 91
      },
      "2025": {
        "records": 159,
        "equity_records": 53,
        "same_round_equity": 53
      }
    },
    "DE": {
      "2021": {
        "records": 48,
        "equity_records": 14,
        "same_round_equity": 14
      },
      "2025": {
        "records": 33,
        "equity_records": 7,
        "same_round_equity": 7
      }
    }
  }
}