打新黑名单是指在新股发行市场中的一个特殊机制，主要目的是为了限制某些投资者或机构在新股申购过程中的参与。具体来说，被列入打新黑名单的投资者或机构将无法参与新股的申购和交易。

在中国A股市场中，打新黑名单的设立主要是为了遏制新股炒作和维护市场秩序。一些投资者或机构可能会利用资金优势或技术手段进行新股的过度申购和交易，从而对市场造成不公平的影响。因此，监管部门设立了打新黑名单机制，将那些违规或涉嫌违规的投资者或机构列入其中，限制其在新股申购和交易中的参与，以维护市场的公平和公正。

英文对照阅读

What is the meaning of the "blacklist for new stock applications"?

The "blacklist for new stock applications" refers to a special mechanism in the new stock issuance market, whose main purpose is to restrict the participation of certain investors or institutions in the new stock subscription process. Specifically, investors or institutions listed on the blacklist will be unable to participate in the subscription and trading of new stocks.

In the Chinese A-share market, the establishment of the "blacklist for new stock applications" is mainly aimed at curbing the speculation of new stocks and maintaining market order. Some investors or institutions may use financial advantages or technical means to over-subscribe and trade in new stocks, which may cause unfair impact on the market. Therefore, regulators have established a blacklist mechanism to list those investors or institutions that violate or are suspected of violating the regulations, restricting their participation in new stock subscription and trading to maintain market fairness and justice.