Jun 6, 2021, the A-share market has performed well this year, but the asset management industry, including public offering, private placement, and private equity management, still faces the situation of 'shrinking existing scale and limited new scale'. Especially for equity products, the redemption pressure has not been completely relieved, and the pace and scale of new fund issuance have slowed down, with the average fundraising scale of single products still at a low level. However, most asset management institutions hope to expand their scale and product lines, but being large does not necessarily mean being strong. Institutions with outstanding investment capabilities may consider switching their development model to become 'strong'. After all, in the industry development during the transition period of growth rate, it is more important to become a 'strong' player that can be remembered by the market, and it will be relatively easier to become 'large' after becoming 'strong'.