Re-financing market is picking up, securities investment banking business structure is rejuvenated.

Data shows that as of November 13th, a total of 127 A-share listed companies have completed their refinancing projects this year, raising a total of 752.377 billion yuan. In the same period last year, only 103 companies raised funds totaling 121.728 billion yuan. The resurgence of the refinancing market not only provides listed companies with billions of capital injection, but also drives securities investment banking business to move away from the crude mode of "relying on IPOs" towards a new stage of "quality first, synergistic empowerment". "We have more work to do now, it's much better than last year," the head of an investment banking team at a Shanghai securities firm said to reporters, noting that the pace of business this year has clearly accelerated. By 2025, the rebound of the A-share refinancing market will not only inject billions of capital into listed companies, but also drive securities investment banking businesses to move away from the crude mode of "relying on IPOs" towards a new stage of "quality first, synergistic empowerment".