A strategic investor refers to a legal person who meets the requirements of national laws, regulations and rules, has a cooperative relationship or cooperative intention and potential with the issuer, and is willing to sign a strategic investment placement agreement with the issuer in accordance with the issuer's placement requirements. It is a legal person who has close business ties with the issuing company and wishes to hold the shares of the issuing company for a long time. In China, strategic investors are introduced into the issuance of new shares, allowing strategic investors to participate in the subscription of new shares issued by issuers. The lead underwriter is responsible for determining the general legal person investors, and each issuer gives a clear and detailed definition of its strategic investors in the stock issuance announcement. Specifically, strategic investors refer to large domestic and foreign enterprises and groups that have the advantages of capital, technology, management, market and talents, can promote the upgrading of industrial structure, enhance the core competitiveness and innovation ability of enterprises, expand the market share of enterprise products, commit themselves to long-term investment cooperation and seek long-term returns and sustainable development of enterprises. First of all, strategic investors must have good qualifications, relatively abundant capital, core technology, advanced management, good industrial base and strong investment and financing capabilities. Secondly, strategic investors should not only bring a lot of money, but also bring advanced technology and management, promote the adjustment and upgrading of product structure and industrial structure, devote themselves to long-term investment cooperation and seek long-term returns. Third, the introduction of strategic investors should be combined with the actual situation in various places, and provinces, cities and counties are different. Don't just think that the international top 500 and the domestic top 500 are strategic investors. Those who have capital, technology and market, can enhance the competitiveness and innovation ability of enterprises and form industrial clusters are all strategic investors.