Hahaha, the 'active market maker' of Hong Kong stocks Caixin: According to a report letter, ZD's sales phone communication stated that the three projects involved in the IPO guaranteed fund being prepared are all fully covered by ZD, with the intention of "violently pulling funds into the Shanghai Hong Kong Stock Connect" after the companies are listed in Hong Kong, and then selling them to retail investors for profit. It is not a secret in the industry that many IPO projects now aim for stocks to be included in the Shanghai Hong Kong Stock Connect. ”The financial professionals mentioned above stated. The specific operation is generally as follows: the ECM department of securities firms and investment banks distributes most or even all of the IPO shares privately to several private equity funds, without going through public fair allocation; The package holder then exchanges this exclusive package qualification by paying benefits, kickbacks, and other means to listed companies or securities firms. After going public, the underwriters can have a high degree of control over the stock market, deliberately raising the stock price to create a market illusion of "new stocks must make profits". After attracting retail investors to enter, they will sell at high prices, and finally share the profits among the underwriters, securities firms, and relevant stakeholders. Original text: A huge sum of 43 million Hong Kong dollars was stolen from a controversial investment company in Hong Kong, triggered by the arrest of a female CEO of a Hong Kong insurance brokerage company, and a related investment company (from Caixin client) was implicated across the sea https://finance. (caixin.com)/2026-04-23/102436972.html? cxw=Android&Sfrom=more&originReferrer=Androidshare&readAddIntegral=jKYBHJaPybHW%2Bk9tRTV%2BCF3xhGVsJKSkfnFesOhNFPMjFFaV%2FTuFRw%3D%3D&system=CAIXIN&articleId=102436972