Shanghai Smith Adhesive New Material (SH:603683) Shang Hai Zheng Quan Bao·2025-09-01 14:20Group 1 - Public funds have invested 17.4 billion yuan in private placements this year, with floating profits exceeding 8 billion yuan [1][5] - The demand for private placements this year is better than last year, with increased market participation enthusiasm and a richer investor structure, particularly with rising interest from state-owned enterprises [1][7] - The sentiment in the private placement market is expected to remain moderate, influenced by a stable stock market and potential interest rate cuts by the Federal Reserve [1][7] Group 2 - The most profitable private placement project for public funds this year is Jinghua New Materials, with a floating profit ratio exceeding 200% [3][4] - As of the end of August, 98% of the private placement stocks have achieved floating profits, with an average floating profit ratio of 48.14% [4][6] - Notable public funds participating in private placements include Nord Fund and Caitong Fund, with significant floating profits of 2.9 billion yuan and 2.88 billion yuan respectively [6]