Both "safety cushion" and "growth source" are needed; public sale is honing the skills of private placement treasure hunting.

Jin10 data reported on August 13th that this year, many high-quality A-share companies' private placement projects have attracted the attention of public offering institutions. According to data from Public Offering Rank, as of August 11th, 24 public institutions have participated in 48 A-share companies' private placement projects this year, with some projects showing unrealized gains exceeding 100%, and the highest unrealized gains exceeding 180%. Industry insiders have stated that market supply has steadily increased in the first half of this year, but the discount rate and additional ratio have changed significantly, reflecting an increase in attention to the private placement market and enthusiasm for capital participation, which may be a positive signal regarding market expectations for the future performance of private placement assets. In terms of strategy, some institutions have indicated that in addition to focusing on the discount level of private placement projects, more attention should be paid to the growth returns of individual stocks. Furthermore, strategies such as inquiry transfer and similar private placement strategies are also worth noting. (China Securities Journal)