CITIC Securities: The participation of wealth management subsidiaries in the private placement market will present a diversified development trend.

The research report of CITIC Securities Investment Co., Ltd. indicates that looking ahead, the participation of wealth management subsidiaries in the private placement market will show a trend of diversified development. On the one hand, with the accumulation of experience and the improvement of capabilities, the depth and breadth of participation will continue to increase, extending from simple financial investment to strategic investment; on the other hand, the variety of products will become more abundant, and unique private placement products combined with national strategies such as ESG themes and technological innovation may appear. At the same time, the application of digital technology will become more widespread, such as using artificial intelligence to assist in screening and pricing decisions for private placement projects, improving investment efficiency and precision. These trends collectively indicate that wealth management funds will become increasingly important participants in the private placement market, playing a positive role in optimizing the equity structure of listed companies and promoting the stable development of the capital market.