受访专家表示，今年以来，多家银行理财子公司积极投身权益市场，为优质上市公司发展注入中长期资 金。但需要关注的是，受限于投研能力等，银行理财子公司权益投资能力有待进一步强化。 在政策大力引导中长期资金入市的背景下，作为重要的资金力量之一，银行理财子公司在权益市场上的 存在感日渐增强。从参与上市公司定增，到"现身"A股IPO网下"打新"、港股IPO基石投资名单，再到布 局宽基指数ETF，银行理财资金正借助多元渠道积极入市。 相较之下，大部分理财子公司在IPO网下"打新"等权益市场中却并不活跃。"这主要源于风险偏好、投研 能力和产品定位差异。"上海金融与发展实验室主任曾刚对《证券日报》记者表示，这种分化反映出行 业整体权益投资能力仍在起步期，头部机构开始形成领先优势，中小机构在组织体系、投研机制、激励 约束等方面尚需优化。 "打新"成突破口 当前，银行理财子公司正通过多种方式参与权益市场，尤其是今年3月份A股IPO网下"打新"对理财公 司"开闸"后，银行理财子公司的"打新"动作频频。 国产GPU公司沐曦股份12月8日公布的网下初步配售结果显示，宁银理财有限责任公司（以下简称"宁银 理财"）、兴银理财有限责任公司（以 ...

Group 1 - The core viewpoint is that bank wealth management subsidiaries are increasing their research efforts in the equity market, driven by policy guidance to channel wealth management funds into the market [1][4] - In the first three quarters of this year, 25 bank wealth management subsidiaries conducted research on a total of 1,762 A-share listed companies, with over 2,100 research instances, and more than 50% of these companies are from the Sci-Tech Innovation Board and the Growth Enterprise Market [1][3] - The focus of the research is primarily on sectors with strong technological attributes, including industrial machinery, electronic components, electrical parts and equipment, medical devices, and integrated circuits [1][3] Group 2 - Notable banks such as Ningyin Wealth Management, Zhaoyin Wealth Management, and Xingyin Wealth Management led in the number of research instances and companies researched, with 301, 288, and 241 instances respectively [2] - These subsidiaries are actively participating in various equity market activities, including private placements, IPO projects, and increasing the supply of rights products, indicating a proactive approach to equity asset investment [2][4] - The enthusiasm for researching companies on the Sci-Tech Innovation Board and the Growth Enterprise Market is high, with 458 and 426 companies researched respectively, accounting for 50.17% of the total [3] Group 3 - The current low yield environment for bank wealth management products has prompted these subsidiaries to enhance their equity market layouts to increase product returns and meet client demands [4][5] - Strengthening research capabilities and industry analysis is a long-term goal for bank wealth management subsidiaries, as it helps improve asset management capabilities and risk control [4][5] - The focus on technology-driven companies reflects a strategic judgment towards sustainable, high-growth, and quality assets, aligning with national policies to support the real economy and innovation industries [5]