Since the end of the month, as the market conditions have improved, the competition in the auction market has intensified, fill prices have gradually risen, and the discount range has become smaller. Shenzhen Mingdiao Decoration's auction transaction price is 10.63 yuan, which is a 6.92% discount compared to the stock closing price of 11.42 yuan on that day. Beihai Gofar Chuanshan Biological, Gpro Titanium Industry, *ST Dongyuan, and Yongshan Lithium Industry have discount rates of less than 5%, while *ST Jiangsu Hagong Intelligent Robot and ST Xiachuan have been sold at a premium. It is reported that the main buyers in the auction equity market are professional auctioneers. They often acquire target equities worth tens of millions or even hundreds of millions of yuan, and after the transfer of shares, quickly sell them off to cash out, then move on to the next "shopping stop", profiting through high turnover cycles. For professional auctioneers, only those with a significant discount on the intended target are profitable. The auction fill prices approaching the secondary market stock prices of related target companies reveal that the "play" in the auction market is changing: there is a clear linkage effect between the auction and the secondary market, which even becomes an "inducement" driving the trends in the secondary market. In addition to professional auctioneers, industrial capital and local state-owned assets are also actively participating in the auction market, aiming directly at the control of listed companies. (Shanghai Securities Journal)