Core Viewpoint - The implementation of new IPO underwriting regulations has seen limited participation from bank wealth management products, with only two companies, Everbright Wealth and Ningyin Wealth, engaging in offline IPO subscriptions since the regulations took effect four months ago [1][2]. Group 1: Participation in IPOs - Everbright Wealth was the first bank wealth management company to participate in offline IPO subscriptions, followed by Ningyin Wealth, which joined the market a month later [3][4]. - Ningyin Wealth has shown more active participation, engaging in three offline IPO subscriptions within two weeks, while Everbright Wealth has only participated in two since June [4][6]. Group 2: Performance and Research Capability - The performance of the two bank wealth management companies in offline IPO subscriptions has varied, with Ningyin Wealth achieving a higher success rate in effective bids compared to Everbright Wealth [6][7]. - The ability to conduct research on new stocks is crucial for determining bid success rates and potential returns, with Ningyin Wealth successfully entering all three of its bids, while Everbright Wealth only succeeded in one out of two [6][7]. Group 3: Market Trends - The enthusiasm for new stock subscriptions remains high, with the average first-day increase of new stocks in July reaching 280.36%, marking a record high for the year [8][9]. - In the first half of the year, the profitability from IPO subscriptions has significantly increased, attracting attention from investors [9].

7月29日IPO企业广东建科（301632）发布《首次公开发行股票并在创业板上市发行公告》，宁波银行 全资理财公司——宁银理财的两只产品以申报价格7.36元参与网下打新，各申报3000万股，并成功入围 有效报价。 事实上，宁银理财早在7月22日就首次亮相IPO网下打新市场，彼时其参与创业板IPO企业汉桑科技 （301491）的打新；次日参与沪市主板IPO企业天富龙（603406）的网下询价。 这是自6月17日光大银行全资子公司光大理财成为业内首家参与IPO网下打新的银行理财公司后的第二 家"入局者"。 首发（IPO）承销新规实施已满4个月，银行理财参与IPO网下打新进展如何？ 据悉，今年3月28日证监会与沪深交易所、证券业协会等多部门分别修订《证券发行与承销管理办法》 《首次公开发行证券发行与承销业务实施细则》《首次公开发行证券网下投资者管理规则》等制度文 件，其中新增明确将银行理财产品、保险资产管理产品作为IPO优先配售对象，即与公募基金、社保基 金、养老金、年金基金、保险资金等列为A类投资者。而在此之前，银行理财产品主要通过基金专户参 与。 时隔光大理财作为首家银行理财公司参与IPO网下打新1个月后，近期 ...

Core 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].