The article discusses the issue of stock pricing in China, particularly focusing on IPO underpricing and the influence of venture capital. It explores why IPO underpricing is more common in China compared to developed countries like the USA and Japan. The researchers aim to understand how the presence of venture capital affects the underpricing rate and earnings yield of stocks. Additionally, they plan to investigate the investment strategies and trading mentality of Chinese investors. The China Securities Regulatory Commission has implemented a price inquiry system to regulate IPO prices. Venture capital is popular in China due to the growing economy, with startups seeking not only funding but also expertise in market research and development strategies.