Strategic investors refer to legal persons who comply with the requirements of national laws, regulations and regulations, have a cooperative relationship or cooperation intention and potential with the issuer, and are willing to sign a strategic investment placement agreement with the issuer in accordance with the issuer's placement requirements. They are closely connected with the issuing company's business

A legal person who wants to hold the issuing company's stocks for a long time.

my country introduces strategic investors in the issuance of new shares and allows strategic investors to participate in subscriptions when the issuer issues new shares.

The lead underwriter is responsible for identifying general corporate investors, and each issuer gives its strategic investors a clear and detailed definition in the stock issuance announcement.

Private placement is also called private placement or internal placement.

It refers to the way of issuing securities to a small number of specific investors.

There are roughly two types of targets for private equity issuance. One is individual investors, such as old shareholders of the company or employees of the issuing institution; the other is institutional investors, such as large financial institutions or companies that have close relationships with the issuer.

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Private equity issuance has confirmed investors, the issuance procedures are simple, and it can save issuance time and expenses.

The disadvantages of private equity issuance are the limited number of investors and poor liquidity, which is not conducive to improving the issuer's social credibility.

To my understanding, strategic investors are the original shareholders and partners of the company; private equity is purely investment, in other words, speculation.