Core Viewpoint - Zhongcheng Zhixin Engineering Consulting Group Co., Ltd. has successfully listed on the Beijing Stock Exchange, raising a total of 200 million yuan through the issuance of 14 million shares at a price of 14.27 yuan per share, with a total share capital of 64.7143 million shares post-issuance [2]. Business Overview - The company focuses on providing professional technical services and comprehensive consulting services in engineering cost, bidding agency, project supervision and management, BIM services, and engineering design, leveraging a strong technical team and extensive project experience [4][5]. - Zhongcheng Zhixin has been recognized as an innovative small and medium-sized enterprise in Jiangsu Province and has received multiple accolades for its contributions to the engineering consulting industry [4]. Financial Performance - In 2024, the company achieved a revenue of 396 million yuan and a net profit of 105 million yuan [2]. - As of June 30, 2025, the company's total current assets amounted to approximately 590.55 million yuan, with cash and cash equivalents of about 64.66 million yuan and accounts receivable of approximately 214.94 million yuan [7]. Fundraising and Investment Projects - The total amount raised from the public offering will be allocated to projects related to the company's main business, including the construction of an engineering consulting service network and R&D and information technology projects, with a total investment of approximately 199.89 million yuan [8][9]. - The company has established a fundraising management system to ensure the proper use and management of the raised funds, which will be stored in a designated account [10].

IPO Pipeline Status - As of November 9, there are 276 companies in the IPO pipeline, including 21 on the Shanghai Main Board, 35 on the Sci-Tech Innovation Board, 21 on the Shenzhen Main Board, 26 on the ChiNext, and 173 on the Beijing Stock Exchange [1] Newly Listed Companies - From November 3 to November 9, five companies were newly listed: - Dana (Tianjin) Biotechnology Co., Ltd. on the Beijing Stock Exchange with a closing price of 102.10 CNY per share, a rise of 497.08%, and a trading volume of 6.65 billion CNY [3] - Suzhou Fengbei Biotechnology Co., Ltd. on the Shanghai Main Board with a closing price of 66.76 CNY per share, a rise of 172.60%, and a trading volume of 16.50 billion CNY [3] - Daming Electronics Co., Ltd. on the Shanghai Main Board with a closing price of 64.45 CNY per share, a rise of 413.55%, and a trading volume of 16.94 billion CNY [4] - Delijia Transmission Technology (Jiangsu) Co., Ltd. on the Shanghai Main Board with a closing price of 70.52 CNY per share, a rise of 51.07%, and a trading volume of 18.50 billion CNY [5] - Zhongcheng Zhixin Engineering Consulting Group Co., Ltd. on the Beijing Stock Exchange with a closing price of 38.54 CNY per share, a rise of 170.08%, and a trading volume of 4.62 billion CNY [6] New Counseling Record Companies - During the same period, 10 companies were added to the counseling record, including: - Hangzhong Tianqi (Chongqing) Microelectronics Co., Ltd., focusing on communication and intelligent terminal chips [7] - Anwen Technology Group Co., Ltd., specializing in automotive cabin safety and comfort components [9] - Duality Biotherapeutics, Inc., a clinical-stage innovative biopharmaceutical company [9] - Wuhan Jiachen Electronics Technology Co., Ltd., engaged in high-voltage safety systems for new energy vehicles [9] - Guangdong Jingyi Furniture Co., Ltd., focusing on office seating solutions [9] - Inner Mongolia Dongyuan Environmental Protection Technology Co., Ltd., involved in wastewater treatment [9] - Ningbo Jinlai Chemical Co., Ltd., a chemical product manufacturer [9] - Shenzhen Zhongji Automation Co., Ltd., specializing in lithium battery automation production equipment [10] - Huanuo Star Technology Co., Ltd., engaged in radar and intelligent robotics research [10] - Anhui Xinyuan Technology Co., Ltd., focusing on fine chemicals [10] Companies Approved for Review - Five companies successfully passed the review process from November 3 to November 9: - Shandong Qilong Marine Oil Steel Pipe Co., Ltd., involved in marine drilling riser development [12] - Chongqing Zhixin Industrial Co., Ltd., specializing in automotive welding parts [12] - Shaanxi Tourism Culture Industry Co., Ltd., offering tourism-related services [12] - Zhejiang Haiseng Medical Devices Co., Ltd., providing anesthesia and monitoring medical devices [12] - Hebei Guoliang New Materials Co., Ltd., focusing on high-temperature industrial refractory materials [12] Companies Registered Successfully - Two companies received registration approval during the period: - Ningbo Jianxin Superconducting Technology Co., Ltd., involved in MRI equipment core components [15] - Inner Mongolia Shuangxin Environmental Protection Materials Co., Ltd., focusing on PVA and specialty fibers [15] Companies Terminated IPO Review - Two companies withdrew their IPO applications: - Fujian Haichuang Optoelectronic Technology Co., Ltd., specializing in laser technology [16] - Shandong Canon Technology Co., Ltd., focusing on energy-saving and environmental protection technologies [17]

Summary of Key Points Core Viewpoint - Zhongcheng Consulting (920003) experienced a significant decline of 7.63% in its stock price, with a high turnover rate of 44.96% on the trading day, indicating increased trading activity and potential volatility in the stock [2][3]. Trading Activity - The total trading volume for Zhongcheng Consulting reached 215 million yuan, with a price fluctuation of 5.51% throughout the day [2]. - The stock was listed on the trading board due to its turnover rate exceeding 44.96%, with a net selling amount of 7.5077 million yuan from brokerage seats [3]. Brokerage Activity - The top five brokerage firms involved in trading Zhongcheng Consulting accounted for a total transaction amount of 61.5296 million yuan, with buying transactions amounting to 27.0109 million yuan and selling transactions totaling 34.5187 million yuan, resulting in a net selling of 7.5077 million yuan [3]. - The largest buying brokerage was GF Securities Co., Ltd. Shanghai Pudong South Road branch, with a buying amount of 7.2511 million yuan, while the largest selling brokerage was Dongwu Securities Co., Ltd. Zhejiang branch, with a selling amount of 8.3865 million yuan [3].

Group 1: New Stock Performance - Last week (November 3-7), 5 new stocks were listed with an average first-day price increase of 260.87%[3] - Four stocks had first-day gains exceeding 100%, including Danna Biotech at 497.08%[3] - No new stocks experienced a first-day decline below their issue price[3] Group 2: Weekly New Stock Issuance Trends - The total amount raised from new stock offerings last week was 35.85 billion yuan, a decrease of 55.82 billion yuan compared to the previous week[4] - The number of new stocks listed last week was 5, compared to 4 the week before[5] - The average first-day price increase for new stocks last week was 260.87%, up from 168.79% the previous week[5] Group 3: Monthly New Stock Trends - In the first week of November, 5 new stocks were listed, raising 35.85 billion yuan with 0% first-day decline rate[12] - In October, 9 new stocks raised 128.21 billion yuan, with an average first-day increase of 244.64%[12] - The average first-day price increase for new stocks in September was 258.52%[12] Group 4: Upcoming New Stock Subscriptions - This week, there are 2 new stocks available for online subscription, one from the main board and one from the North Exchange[20] - Hai'an Group is expected to raise 31.07 billion yuan, while Nant Technology is expected to raise 3.22 billion yuan[20] - The subscription dates are November 14 for Hai'an Group and November 11 for Nant Technology[20] Group 5: Risk Considerations - New stock performance is influenced by market sentiment, which can affect issuance outcomes[21] - If post-issuance performance does not meet expectations, it may impact future market performance of new stocks[21] - Newly listed stocks often have lower liquidity, leading to potential price volatility[21]

Core Insights - Zhongcheng Consulting (920003) experienced a significant first-day increase of 170.08% upon its listing, with a turnover rate of 86.25% and a transaction volume of 462 million yuan [2] - The stock's first-day margin trading saw a buy amount of 3.0651 million yuan, accounting for 0.66% of the total trading volume, with a latest margin balance of 2.7656 million yuan, representing 0.54% of the circulating market value [2] Company Overview - Zhongcheng Consulting specializes in providing professional technical services and comprehensive consulting services, including engineering cost estimation, bidding agency, engineering supervision and management, BIM services, and engineering design [2] Recent IPO Performance - The recent IPOs on the same day as Zhongcheng Consulting included: - C Delijia (603092) with a first-day increase of 51.07% and a margin balance of 64.1405 million yuan, accounting for 2.72% of the circulating market value [2] - C Daming (603376) with a remarkable first-day increase of 413.55% and a margin balance of 52.8289 million yuan, representing 2.64% of the circulating market value [2] - Other notable IPOs include C Fengbei (603334) with a 172.60% increase and a margin balance of 37.9099 million yuan, and Danna Biology (920009) with a staggering 497.08% increase [2]

Group 1 - The North Exchange 50 index decreased by 3.79%, but trading volume remained above 20 billion, showing an increase from the previous 17 billion [8][19] - The market adjustment was a natural pullback after a previous policy-driven surge, with a focus on sectors like electricity, chemicals, photovoltaics, lithium batteries, and energy storage, which performed well [8][9] - The themes of anti-involution and price increases are spreading, aligning with market demands for "high cuts and low" [9][10] Group 2 - The North Exchange's PE (TTM) average is 89.33 times, with a median of 44.73 times, indicating a decrease in valuation [22][30] - The trading volume for the week was 4.922 billion shares, a decrease of 17.23% from the previous week, while the trading amount was 113.591 billion yuan, down 21.37% [26][19] - The margin financing balance increased to 7.951 billion yuan, up by 0.47 billion yuan from the previous week [28][19] Group 3 - Two new stocks were listed this week: Danna Biological and Zhongcheng Consulting, with significant first-day price increases of 497.08% and 170.08% respectively [32][33] - As of November 7, 2025, there are 282 companies listed on the North Exchange [32] - Next week, one company (Nante Technology) is scheduled for subscription, and two companies (Tongbao Optoelectronics, Agricultural University Technology) are set for review [37] Group 4 - Among the North Exchange stocks, 52 increased while 229 decreased, resulting in a rise-fall ratio of 0.23 [40] - The top gainers included Caneng Electric (+31.13%) and Anda Technology (+20.38%) [41][40] - The top five stocks by turnover rate were Caneng Electric, Jinhua New Materials, and Deer Chemical, indicating high trading activity [46]

Core Insights - Zhongcheng Consulting successfully held its listing ceremony on the Beijing Stock Exchange on November 7, with a closing price of 38.54 yuan, marking a 170.08% increase, making it the first company in the engineering consulting service sector to go public this year [1] Company Overview - Zhongcheng Zhixin Engineering Consulting Group Co., Ltd. was established in 2002 and is headquartered in Suzhou, Jiangsu Province. The company has over 20 years of experience in the engineering consulting field, providing full lifecycle consulting services for construction projects [3] - The main business areas include engineering cost consulting, bidding agency, project supervision and management, BIM (Building Information Modeling) services, and engineering design, among others [3] Market Position and Financial Performance - In 2023, Zhongcheng Consulting achieved an engineering cost consulting revenue of 203 million yuan, ranking 5th in Jiangsu Province and 1st in Suzhou City [3] - The company is actively pursuing digital transformation, having developed five core software systems for cost consulting, supervision, and BIM data management, enhancing business intelligence and platform upgrades [3] - Projected financials for 2024 include revenues of 396 million yuan and a net profit of 105 million yuan, reflecting a year-on-year growth of 30.02%, significantly above the industry average [3] Business Strategy and Expansion - The company started with engineering cost consulting and has gradually expanded its service offerings to create a comprehensive "one-stop" service system covering the entire construction cycle [4] - In 2023, Zhongcheng Consulting was recognized as an innovative small and medium-sized enterprise in Jiangsu Province and was certified as a high-tech enterprise. In 2024, it was selected as a provincial-level specialized and innovative small and medium-sized enterprise [4] - The company has established 8 holding subsidiaries and 33 branch offices within Jiangsu Province, covering all 13 prefecture-level cities, and has set up subsidiaries in Shanghai and Singapore, as well as branches in Anhui, Jiangxi, and Xiong'an, forming a network that radiates from Suzhou to the Yangtze River Delta and nationwide [4] - Following its listing on the Beijing Stock Exchange, Zhongcheng Consulting aims to leverage capital to drive business model innovation, focusing on full-process consulting and BIM services, while expanding its market presence through additional branch offices [4] - The company plans to use the raised funds for digital platform development, technology upgrades, and market expansion, with the goal of transitioning from a regional leader to a nationally recognized engineering consulting enterprise with advanced technology and extensive service capabilities [4] - Despite challenges such as regional business concentration, Zhongcheng Consulting is well-positioned to seize development opportunities amid new urbanization and digitalization trends [4]

Core Viewpoint - Su Gao Xin Jin Kong's subsidiary Zhong Cheng Zhi Xin Engineering Consulting Group Co., Ltd. was listed on the Beijing Stock Exchange, opening with a surge of over 190%, marking the second listing for Suzhou High-tech Zone this year and a total of 38 listed companies, indicating the continuous growth of the "High-tech Legion" in the capital market [1][3]. Group 1 - Zhong Cheng Zhi Xin was established in 2002 and focuses on the engineering consulting sector, emphasizing full industry chain digital transformation and creating a comprehensive integrated professional consulting platform [3]. - The company's main services include engineering supervision, project management, cost consulting, BIM application, architectural design, and full-process engineering consulting, with a strategic focus on Jiangsu while expanding into countries like Vietnam, Thailand, and Saudi Arabia [3]. - Su Gao Xin Jin Kong has invested in 12 listed companies this year, bringing the total to 110, effectively enhancing the service capabilities of the capital market and creating a full-cycle technology finance brand [3]. Group 2 - The company plans to deepen its enterprise lifecycle service system and promote the integration of industrial chains, innovation chains, capital chains, and talent chains to further energize the "High-tech Legion" in the capital market [5].

Group 1 - The core viewpoint of the news is the successful listing of Zhongcheng Zhixin Engineering Consulting Group Co., Ltd. on the Beijing Stock Exchange, marking the second listing in Suzhou High-tech Zone this year and a total of 38 listed companies, indicating the growth of the capital market in the region [1][6]. Group 2 - Zhongcheng Zhixin Engineering Consulting Group Co., Ltd. was founded in 2002 and focuses on the engineering consulting sector, aiming to create a comprehensive integrated professional consulting platform [5]. - The company’s main services include engineering supervision, project management, cost consulting, BIM application, and overall engineering consulting services, with a strategic focus on Jiangsu and expansion into international markets such as Vietnam, Thailand, and Saudi Arabia [5]. Group 3 - The company’s stock was issued at a price of 14.27 yuan per share, with a total issuance of 14 million shares, raising nearly 200 million yuan for projects related to engineering consulting service network construction, research and development, and information technology [4]. Group 4 - The High-tech Zone has implemented initiatives like the "Peak Plan" and "Golden Heart Protection Plan" to support companies in going public, enhancing the listing reserve mechanism, and organizing various training and investment activities [6]. - The total market value of listed companies in the High-tech Zone has exceeded 450 billion yuan, showcasing a vibrant capital market with strong potential for future growth [6].

Summary of Key Points Core Viewpoint - On November 7, the Beijing Stock Exchange (BSE) saw a total trading volume of 980 million shares and a trading value of 21.504 billion yuan, marking an increase of 129 million yuan compared to the previous trading day. A total of 68 stocks closed higher, while 209 stocks closed lower [1]. Trading Performance - The stock that experienced the highest increase was Zhongcheng Consulting, which surged by 170.08%, with a turnover rate of 86.25% and a trading value of 46.17065 million yuan. Other notable gainers included Hongxi Technology and Anda Technology, which rose by 18.52% and 16.36%, respectively [2]. - In terms of trading activity, 62 stocks had a trading value exceeding 100 million yuan, with the top three being Better Energy (9.14 billion yuan), Anda Technology (8.49 billion yuan), and Jinhua New Materials (6.84 billion yuan) [2]. - The overall trading dynamics showed that 23 stocks had a turnover rate exceeding 10%, with 6 stocks exceeding 20%. The majority of stocks had a turnover rate between 1% and 5% [2]. Stock Performance Details - The following table summarizes the closing prices, percentage changes, turnover rates, and trading values of notable stocks: | Code | Name | Closing Price (Yuan) | Change (%) | Turnover Rate (%) | Trading Value (Million Yuan) | |---------|---------------|----------------------|------------|--------------------|-------------------------------| | 920185 | Better Energy | 37.37 | 4.24 | 2.22 | 91423.21 | | 920809 | Anda Technology| 7.68 | 16.36 | 25.03 | 84891.69 | | 920015 | Jinhua New Materials| 66.69 | 9.45 | 33.33 | 68396.51 | | 920003 | Zhongcheng Consulting| 38.54 | 170.08 | 86.25 | 46170.65 | | 920640 | Fujida | 34.90 | -5.16 | 7.16 | 45768.20 | | 920770 | Ainengju | 21.68 | 4.63 | 23.16 | 42123.19 | | 920299 | Caneng Power | 23.80 | 0.68 | 35.44 | 37875.30 | | 920961 | Chuangyuan Xinke| 28.48 | 5.87 | 10.85 | 30798.31 | | 920037 | Guangxin Technology| 104.13 | -6.41 | 9.60 | 30292.61 | | 920402 | Silane Technology| 11.89 | 8.09 | 9.06 | 29687.62 | | 920252 | Tianhong Lithium Battery| 30.93 | 4.35 | 13.83 | 28943.00 | | 920116 | Xingtum Control| 72.86 | 5.81 | 9.91 | 28595.71 | | 920396 | Changfu Shares | 35.47 | -5.79 | 13.73 | 25442.93 | | 920223 | Rongyi Precision| 22.03 | -3.33 | 13.36 | 24639.13 | | 920748 | Luqiao Information| 57.00 | 0.62 | 6.59 | 23707.97 | | 920247 | Huami New Materials| 29.93 | 5.02 | 6.90 | 23556.90 | | 920808 | Shuguang Digital Creation| 89.50 | 0.34 | 1.33 | 23222.77 | | 920062 | Kerun Intelligent Control| 12.52 | -1.11 | 13.35 | 22771.44 | | 920971 | Tianma New Materials| 35.76 | -2.03 | 7.03 | 22103.46 | | 920725 | Huifeng Diamond| 35.40 | 3.36 | 14.66 | 21817.76 [2][3]