Recently, many subsidiaries of listed companies in the A-share market have been engaging in capital expansion in hopes of obtaining more financial support. According to incomplete statistics from the Securities Times, since November alone, over ten listed companies have announced the introduction of strategic investors for their subsidiary's capital increase, with these businesses largely distributed across the Electrical Utilities, CSI SWS Health Care index, and basic chemicals Industries. Notably, among the strategic investors introduced by the subsidiaries of these companies, many are investment Institutions with state-owned backgrounds. Industry insiders interviewed by reporters believe that the recent wave of 'strategic investment' is mainly due to the significant hurdles for listed companies aiming to spin off, which is an important reason for the capital increase of their subsidiaries. The targets chosen by state-owned investment Institutions for equity participation are often new or core businesses under hard Technology enterprises, which ensures the safety of state funds and provides high premium returns during future IPO opportunities. (Securities Times)