Banks' wealth management enters the IPO subscription craze. The strategy of "fixed income + IPO subscription" is becoming mainstream.

Since the beginning of this year, the Hong Kong stock market has witnessed a wave of new listings, with many "hard technology" companies going public, attracting numerous institutional investors. Recently, several wealth management companies such as China Post Wealth Management and Industrial Bank Wealth Management announced their participation in cornerstone investments in Hong Kong IPOs of companies like Zhaoyi Innovation, Bipeng Technology, MiniMax, and Zhipu, recording substantial profits in general. Against the backdrop of low interest rates continuing to suppress traditional fixed income asset returns, bank wealth management companies are accelerating the expansion of their equity investment boundaries. Securities Times reporters have noticed that since March 2025, at least 6 wealth management companies have participated in A-share IPO offline placements or Hong Kong IPO cornerstone investments. Currently, the combination of "fixed income + new listings" has become one of the important strategies for stabilizing and increasing product returns.