定增升温！16家公募砸逾45亿，“三倍股”花落中小公募

Core Viewpoint - The secondary market is recovering, leading to increased enthusiasm for public fund private placements, particularly among smaller fund companies focusing on this strategy [1][2]. Fund Participation and Performance - Over the past three months (from May 2 to August 1), 16 public funds participated in private placements with a total investment exceeding 4.5 billion yuan, with some projects yielding returns over 300% [2][5]. - Notably, smaller public funds have been more active in private placements compared to larger firms, with significant participation from funds like Qianhai Kaiyuan and Penghua [3][4]. - A total of 34 companies have conducted private placements in the last three months, raising over 570 billion yuan, with 31 of these companies seeing their stock prices rise, indicating a high success rate for these placements [5][6]. Growth of Supporting Financing Projects - Supporting financing projects are emerging as a new growth point in private placements, with over 40% of the disclosed projects this year being related to mergers and acquisitions [2][8]. - The "Six Guidelines for Mergers and Acquisitions" policy has encouraged companies to utilize private placements for financing, leading to an increase in such projects [7][8]. - The average returns from supporting financing projects have outperformed the overall market, making them attractive investment opportunities [8]. Sector Focus - The focus on private placements is shifting towards high-growth sectors such as semiconductors, AI computing power, and new energy, which are seen as key areas for capital investment and industry upgrades [8].