On July 13, the Shanghai Stock Exchange formally initiated a pilot program introducing a regime of seasoned professional institutional investors for enterprises listed under the fifth set of listing standards on the STAR Market. Market participants are widely interested in how these seasoned professional investors will influence this shift and how securities firms can capitalize on the emerging opportunities. According to available data, among the 20 enterprises that have successfully listed under the fifth set of listing standards over the past six years, the majority of investment institutions have made surprise equity investments within one year prior to the IPO application. Industry experts contend that such short-term investment practices are detrimental to fostering a favorable investment environment characterized by 'early investment, modest investment, and long-term commitment'. The reform of the STAR Market is intended to steer investment institutions towards becoming long-term capital providers and leveraging their professional judgment.