There are four major impacts:

1. Failure to pay in full after winning the lottery is regarded as giving up. However, Shanghai and Shenzhen stock exchanges can choose to purchase some shares, for example, if they win 5 shares, they can purchase 49 shares, and if they win 1 shares, they can purchase 999 shares. However, if you don't pay or don't pay in full for three times in 12 months, you will be blacked out for six months, and it is forbidden to play new ones. After the expiration, you will be automatically resurrected.

2. When stock investors have won lots for three times in a row within 12 months, but have not paid in full, they shall not participate in the online subscription of new shares for 18 days (including the next day) from the day after the settlement participants last declared their abandonment of subscription;

third, pay attention to the meaning of "full amount": first, giving up one share is also counted. The number of subscription waivers shall be subject to the actual shortage of funds, and the minimum unit is 1 share, which may not be an integer multiple of the subscription unit (Shenzhen 5, Shanghai 1).

iv. The number of times to give up subscription is calculated according to the number of new shares actually given up by investors, and the number of times is not clear; If more than one new share is subscribed on the same day, if more than one new share is abandoned, it shall be calculated as multiple abandonment; The number of times the Shanghai and Shenzhen stock markets give up subscriptions is calculated separately and not merged.

the lottery of new shares is to announce the winning rate according to the rules of the exchange, and according to the total allocation number, the lead underwriter will preside over the lottery to confirm the lottery results, and announce the lottery results in the designated media on the first trading day (T+2) after the lottery. In China, each winning number can subscribe for 1, shares (Shanghai Stock Exchange) or 5 shares (Shenzhen Stock Exchange).

The winning rate is just like the winning rate of lottery tickets. Because there are many people and money to apply for new shares, but the amount of issuance is limited, it is impossible to have one share. Because the subscription is based on every 1, shares, every 1, shares will be a subscription unit and will get a subscription number. Then, investors will draw a number, and some will win the lottery. If there is no, they will miss the lottery. With the issuable quota/total subscription amount, you will get the winning rate of the new share issuance. The lower the winning rate, the less likely it is to win.

funds are different from new shares, and the issuance of new funds can be shared by everyone. The winning rate is calculated as above, assuming that the winning rate is 1%, then if you invest 1, yuan, 1, will be able to successfully purchase the fund, and so on.

with the restart of new share issuance, market funds gradually flock to the primary market to participate in risk-free arbitrage and get rich profits. However, with the continuous increase of market funds, the winning rate of new shares of small and medium-sized investors has gradually decreased, and the return on investment has obviously decreased. How can small and medium-sized investors improve the winning rate of new shares and the level of investment income? It is the only way to actively participate in the organization's collective planning products and share the offline subscription opportunities.