锚定新质生产力 券商投行全生命周期服务体系日渐完善

Core Insights - The core discussion at the "19th Shenzhen International Financial Expo" focused on how investment banks can embrace new productive forces through technology finance, emphasizing the need for specialized service structures to support tech enterprises [1] Group 1: Specialized Service Structures - Major securities firms are establishing dedicated teams and optimizing assessment mechanisms to systematically transform their service models [2] - Companies are forming specialized service centers for small and medium-sized enterprises (SMEs), focusing on financing, intelligence, and customer acquisition [2] - Firms are creating industry groups around strategic sectors such as high-end equipment and new energy, integrating investment, banking, and research resources [2][3] Group 2: Value Identification Systems - Investment banks are enhancing their professional judgment capabilities by developing systematic identification frameworks for hard technology enterprises [2][3] - Companies are establishing industry research institutes to provide in-depth industry insights, which are crucial for project selection [3] Group 3: Comprehensive Financial Service Ecosystem - Investment banks are transitioning from single financing to full-cycle support, aiming for long-term partnerships with enterprises [5] - A three-stage service model is proposed, focusing on initial financing, IPO facilitation, and post-listing mergers and acquisitions [5][6] - The importance of long-term support is emphasized, as many projects grow from small to large scales, requiring comprehensive service capabilities [5] Group 4: Policy Recommendations - Experts call for increased inclusivity and stability in policies to better support technological innovation, suggesting the expansion of "patient capital" and more flexible regulatory environments [6][7] - There is a need for improved certainty in capital operations, particularly in the merger and acquisition processes, to foster a dual-driven development model of IPOs and mergers [7]