WGQ(SH:600648) Cai Jing Wang·2025-04-18 10:29Core Insights - The first instance of wealth management funds participating in a listed company's private placement has been realized, with Everbright Wealth Management leading the way [1][2]. Group 1: Wealth Management Participation - Everbright Wealth Management participated in the private placement of Waigaoqiao, acquiring 1.814882 million shares for approximately 20 million yuan, as part of a total fundraising of 2.475 billion yuan from the issuance of 225 million shares [1][2]. - This event marks the first market case of wealth management funds directly investing in a listed company's private placement since the policy changes aimed at facilitating long-term capital market investments [2][3]. Group 2: Policy Support and Market Environment - In 2024, various departments have been actively promoting the entry of long-term funds into the market, with a focus on breaking down barriers for social security, insurance, and wealth management funds [2][3]. - The China Securities Regulatory Commission has revised rules to allow wealth management companies to participate as offline investors in IPOs and private placements, ensuring they receive equal treatment in allocation ratios compared to other investors [3]. Group 3: Investment Strategies - Wealth management companies, including Everbright Wealth Management, are increasing their allocation to capital markets, with a focus on index investment tools such as ETFs, and are also enhancing investments in private placements, convertible bonds, and other financial instruments [4].