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The funds raised by listed companies are put into bank custody accounts. Can they be used to invest in industrial funds?

basically not. The raised funds are for special purposes and can only be used according to regulations. If there are idle raised funds in the short term, you can temporarily replenish liquidity or buy short-term wealth management products, but it must be approved by the shareholders' meeting. Industrial funds are long-term, and it is impossible to invest in long-term projects with temporarily restricted raised funds.