Since 2015, the speed of A-share IPO review has been accelerating. The raised funds by listed companies hit record highs in many different ways. After the stock investment, investors have also begun to pay more attention to the whereabouts of the raised funds. Because of the phenomenon of frequent purchases of financial products by raised funds in the past three years, the academic community set off a wave of scholarship fund-raising academic research after 2000. This article discussed the existing literature theory on listed companies using raised funds to purchase trust financing. And this article not only gave a summary to the research methods and conclusions of the raised funds buying trust financing or financing products, but also reviewed the research about investment efficiency after the raised funds target project changed. At last, this paper gave several directions for the future study about raised funds.
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