又见银行理财子公司参与IPO网下打新 业内人士认为：投研能力建设仍是关键

Group 1 - The core viewpoint of the articles highlights the increasing participation of bank wealth management subsidiaries in the IPO offline subscription market, with Ningyin Wealth Management becoming the second bank to engage in this area after Everbright Wealth Management [1][2] - Ningyin Wealth Management has successfully participated in three IPO projects in July, with effective bids from multiple mixed wealth management products, indicating a growing trend among bank wealth management subsidiaries to enter the equity market [2][3] - The participation of bank wealth management subsidiaries in IPO offline subscriptions is expected to provide long-term capital support to the capital market, diversify funding sources, and promote sustainable market development [2][3] Group 2 - The revision of the "Securities Issuance and Underwriting Management Measures" by the China Securities Regulatory Commission in March has allowed bank wealth management products to be included as priority allocation objects for IPOs, enabling direct participation in offline new stock subscriptions [3][4] - Despite the regulatory changes, the actual participation of bank wealth management subsidiaries in IPO offline subscriptions remains limited due to compliance and operational challenges, which increase the costs associated with their involvement [3][4] - Experts suggest that bank wealth management subsidiaries need to enhance their research and investment capabilities, develop comprehensive strategies, and improve customer education to effectively compete in the IPO offline subscription market [4][5]