Core Viewpoint - The article highlights the increasing involvement of wealth management companies in IPO subscriptions, particularly focusing on the participation of Ningyin Wealth Management in the subscription of new shares for Hansa Technology and other companies, following recent regulatory changes that favor wealth management products as priority allocation investors in IPOs [2] Group 1: Participation in IPOs - Ningyin Wealth Management has included two of its products in the subscription list for Hansa Technology, with a subscription price of 29.3 yuan and a total application of 9 million shares [2] - In addition to Hansa Technology, Ningyin Wealth Management has also participated in the IPO subscription for Tianfu Long, with three products applying for 10 million shares, 12.6 million shares, and 12.6 million shares at a price of 25.14 yuan [2] - Furthermore, two products from Ningyin Wealth Management have been submitted for the IPO subscription of Guangdong Jianke, with an application for 30 million shares at a price of 7.36 yuan [2] Group 2: Regulatory Changes - On March 28, the China Securities Regulatory Commission, along with other financial authorities, revised several regulatory documents, including the "Securities Issuance and Underwriting Management Measures" and the "Implementation Rules for Initial Public Offerings" [2] - The revisions explicitly include bank wealth management products and insurance asset management products as priority allocation objects for IPOs, categorizing wealth management companies as Class A investors and granting them the same policy treatment as public funds [2] - Currently, there are nine registered wealth management companies on the offline investor list of the China Securities Association [2]

Group 1 - Everbright Wealth Management participated in the offline IPO subscription of Xintong Electronics at a price of 17 yuan, becoming the first bank wealth management company to do so in the industry [1] - Xintong Electronics, established in 1996, has a competitive advantage in technology and a market share of 25%-30% in the intelligent inspection system for transmission lines, and is the leader in the communication operation and maintenance intelligent terminal market [1] - The revenue of Xintong Electronics is projected to grow by 19.08% and 7.97% in 2023 and 2024 respectively, while net profit is expected to increase by 5.60% and 15.11% in the same years, indicating strong growth potential [1] Group 2 - The Chinese government has taken steps to facilitate the participation of bank wealth management products in the capital market, treating them equally with public funds in terms of IPO subscription and other investment opportunities [2] - The elevation of bank wealth management to Class A investors and their inclusion as priority allocation objects for IPOs is expected to enhance the allocation of financial resources and support high-quality development of the real economy [2] - Everbright Wealth Management remains optimistic about the future of the Chinese capital market and plans to increase its presence in this area while effectively managing risks [2]