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银行理财首单以A类投资者身份参与的网下打新落地
中国基金报·2025-06-20 11:00

Core Viewpoint - Everbright Wealth Management has become the first bank wealth management company to participate in offline IPO subscriptions as an A-class investor, marking a significant shift in the industry [1][3]. Group 1: Participation in IPOs - Everbright Wealth Management participated in the offline IPO subscription of Xintong Electronics at a declared price of 17 CNY per share, successfully entering valid bids [1][3]. - The company utilized its mixed product "Sunshine Orange Absolute Return Strategy" for this participation, elevating the status of bank wealth management companies to A-class investors, allowing them to enjoy the same policy treatment as public funds [3][5]. Group 2: Market Impact and Future Outlook - This move is expected to increase the proportion of new stock allocations for bank wealth management products, enhancing the yield flexibility of these products and contributing to the optimization of financial resource allocation to support high-quality development of the real economy [3][4]. - Xintong Electronics, established in 1996, has a competitive advantage in the domestic market with a market share of 25% to 30% in intelligent inspection systems for transmission lines and ranks first in the communication operation and maintenance terminal market [3]. - According to its prospectus, Xintong Electronics anticipates revenue growth of 19.08% and 7.97% for 2023 and 2024, respectively, with net profit growth of 5.60% and 15.11% for the same years [3]. Group 3: Policy Support and Future Developments - The ability of bank wealth management companies to participate as A-class investors is supported by policy initiatives aimed at facilitating the entry of long-term funds into the market [5][6]. - The Central Political Bureau's meeting in 2024 emphasized the need to "unblock the entry points for social security, insurance, and wealth management funds into the market" [5]. - The industry anticipates that with the continuous opening of policy space, wealth management institutions will innovate and develop more capital market-related products, further enhancing their product offerings [6].