According to "21st Century Business Herald", some brokerage firms with overseas subsidiaries as the main players are increasing their overseas business layout in order to achieve multiple goals of reducing redundant costs of investment banks, improving investment bank performance, and increasing insurance agency income. Unlike in the past, when domestic investment bank insurance was almost no longer involved after the project was docked with overseas subsidiaries, they are now trying to participate more in the project. The reason behind this is to get more income and because the personnel of overseas subsidiaries are limited while those for A-share IPOs are redundant.

According to the report, for a certain securities company, it is recommended to persuade more enterprises to list on the Hong Kong Stock Exchange (00388.HK). Among them, there are enterprises that once planned to list on the A-share market but did not submit prospectuses, as well as those that have withdrawn their materials after rushing to the Shanghai and Shenzhen stock exchanges. The person also revealed that after persuading relevant enterprises to list on the Hong Kong Stock Exchange, the sponsoring institutions are generally exclusively or jointly contracted by the brokerage firm's overseas subsidiaries; however, because the difficulty of issuing Hong Kong stocks is relatively high, lead underwriters are often jointly undertaken by multiple institutions, usually involving domestic brokerage firms' overseas subsidiaries, internationally renowned investment banks and local Hong Kong companies.

According to the report, most domestic brokerage firms still have a lot of room for improvement in terms of underwriting Hong Kong stocks. According to Wind data, as of June 23, among the top ten institutions in terms of Hong Kong stock underwriting scale this year, only four domestic brokerage firms, China International Capital Corporation Limited (03908.HK) (601995.SH), GF Securities Co., Ltd. (01776.HK) (000776.SZ), Haitong Securities Co., Ltd. (06837.HK) (600837.SH), and Guotai Junan Securities Co., Ltd. (02611.HK) (601211.SH) correspond to them. CITIC Securities Co., Ltd. (06030.HK) (600030.SH), China Securities Co., Ltd. (06066.HK) (601066.SH), and Huatai Securities Co., Ltd. (06886.HK) (601688.SH), which have always been strong in investment banking, have a market share of less than 3% in Hong Kong stocks.