Core Viewpoint - The successful participation of Everbright Wealth Management as an A-class investor in the offline issuance of new shares marks a significant breakthrough for bank wealth management subsidiaries, opening new investment paths and injecting strong momentum into the capital market with long-term funds [1][4]. Group 1: Participation in New Share Issuance - Everbright Wealth Management participated in the offline subscription of Shandong Xintong Electronics Co., Ltd. at a bid price of 17 yuan per share, successfully entering the effective bid list with a scale of 9 million shares [2][3]. - Traditionally, investors in the offline subscription market were categorized into three classes, with A-class seats dominated by public funds and social security funds, while bank wealth management products previously participated as C-class investors [2][4]. Group 2: Policy and Market Environment - The breakthrough is attributed to a combination of policy incentives and market demand, with recent regulatory changes allowing bank wealth management to enjoy the same treatment as public funds in new share subscriptions [4][6]. - The ongoing decline in interest rates and the shrinking yield space for traditional assets have prompted bank wealth management to seek new growth points, with offline subscriptions offering relatively stable returns [4][5]. Group 3: Future Outlook - The successful entry of Everbright Wealth Management is expected to encourage more bank wealth management subsidiaries to accelerate their participation in offline subscriptions, enhancing their investment strategies and product offerings [6][7]. - The A-class investor status provides significant advantages in subscription allocation, which is likely to attract more wealth management funds into the primary market, supporting the real economy [3][6].