Since this year, trading in the A-share market has been active, and the refinancing market has continued to heat up, and the enthusiasm of public funds to participate in fixed growth has increased markedly. As of September 6, the total amount allocated to the public offering exceeded 47 billion yuan, an increase of more than 160% over the same period last year. However, in stark contrast to the massive influx of capital, some popular fixed growth projects have recently experienced price inversion. Technology stock growth projects such as Jiang Bolong once sparked a buzz in the market because the issue price was higher than the secondary market price, and “buying stocks at a discount” did not make a steady profit without compensation. High market fluctuations, accelerated industry rotation, and general narrowing of fixed increases and discounts are changing the investment logic of this traditional strategy. The focus of institutional competition is returning to judging industry sentiment, individual stock values, and portfolio management capabilities.

Since this year, trading in the A-share market has been active, and the refinancing market has continued to heat up, and the enthusiasm of public funds to participate in fixed growth has increased markedly. As of September 6, the total amount allocated to the public offering exceeded 47 billion yuan, an increase of more than 160% over the same period last year. However, in stark contrast to the massive influx of capital, some popular fixed growth projects have recently experienced price inversion. Technology stock growth projects such as Jiang Bolong once sparked a buzz in the market because the issue price was higher than the secondary market price, and “buying stocks at a discount” did not make a steady profit without compensation. High market fluctuations, accelerated industry rotation, and general narrowing of fixed increases and discounts are changing the investment logic of this traditional strategy. The focus of institutional competition is returning to judging industry sentiment, individual stock values, and portfolio management capabilities.