银行理财子权益投资加码，年内调研“硬科技”超2000次

Group 1 - The issuance of equity and mixed financial products has significantly increased in 2025, with over 300 products currently available in the market [1][5] - As of September 2025, wealth management companies have conducted over 2,100 surveys of A-share listed companies, with a focus on the ChiNext and STAR Market, accounting for nearly half of the total surveys [2][4] - The active engagement of wealth management companies in surveys reflects a strategic shift towards active management and equity investment, influenced by macroeconomic conditions and changing client demands [1][4] Group 2 - The number of equity and mixed financial products issued in 2025 reached 259, with a total scale of 727 billion yuan, surpassing the entire issuance scale of the previous year [5][6] - The focus on "hard technology" companies has emerged, with frequent surveys conducted on firms like Zhongkong Technology and Dongxin Co., indicating a trend towards sectors with strong growth potential [4][6] - The current market environment shows a preference for "fixed income plus" products, as wealth management companies seek to meet client demand for higher risk-return profiles [5][6] Group 3 - The direct equity allocation scale for wealth management products dropped to a five-year low in the first half of 2025, while indirect allocation through funds reached a five-year high [6][7] - The issuance of mixed and "fixed income plus" products has significantly increased since August 2025, with expectations that total equity allocation will exceed 100 billion yuan in the latter half of the year [7] - The construction of equity investment capabilities within wealth management companies is deemed crucial for meeting the increasing client demand for equity investments as market conditions improve [7]