券商中国·2025-08-03 06:53Core Viewpoint - The article discusses the progress of bank wealth management companies participating in offline IPO subscriptions since the implementation of new underwriting regulations four months ago, highlighting the slow pace and differences in performance between the two companies involved, namely Everbright Wealth Management and Ningyin Wealth Management [1][5]. Group 1: Participation in IPOs - Everbright Wealth Management was the first bank wealth management company to participate in offline IPO subscriptions, followed by Ningyin Wealth Management, which joined the market later [3][4]. - As of now, only these two bank wealth management companies have engaged in offline IPO subscriptions since the new regulations were implemented [1][2]. - Ningyin Wealth Management has shown more active participation, engaging in three IPO subscriptions within two weeks, while Everbright Wealth Management has only participated in two since June [4][6]. Group 2: Performance and Research Capabilities - The differences in performance between the two companies can be attributed to their investment research capabilities and the establishment of necessary operational mechanisms for IPO participation [5][6]. - Ningyin Wealth Management successfully entered all three IPO subscriptions it participated in, while Everbright Wealth Management only succeeded in one out of two attempts [6][7]. - The article provides specific examples of successful bids, including the pricing strategies of both companies during the IPO processes, illustrating the impact of research capabilities on bid success [7][8]. Group 3: Market Trends - The article notes a high level of enthusiasm for new stock subscriptions this year, with the average first-day increase of newly listed stocks in July reaching 280.36%, marking a record high for the year [1][8]. - The article also presents data on the average first-day closing price changes for new stocks listed each month, indicating a strong performance trend in the IPO market [9].