Investment banks have a wide range. However, securities companies generally refer to IPOs. Some companies also put bonds in the investment banking department, and some companies put them in the bond department. Some companies put asset securitization in investment banks, while others put it in asset management departments. Some companies put mergers and acquisitions in investment banks, while others set up separate M&A departments. In short, the scope of investment banks is actually very wide, and there is no need to focus on the sponsor representatives. Due to the suspension of IPO in recent years, the high cost of investment banks of various companies, and the increasing risk of administrative punishment of investment banks, investment banks are also seeking transformation, such as bonds, asset securitization, and third board, etc. Therefore, if you have the conditions, you can still go to the investment bank. Although it is not as golden as before, it is still possible. The main technical content of investment banks lies in product structure design, not in preparing materials for an IPO, nor in how to make up a story (that is good at selling), such as the conversion price and proportion of convertible bonds, such as the price of warrants. I believe that everyone here understands finance, so just stop here.