Index Adjustment - The North Exchange 50 Index will undergo its first adjustment of 2026 on March 16, with three companies expected to be added: Tiangong Co., Ltd., Guangxin Technology, and Jikang Technology[2][14] - The adjustment will remove companies that rank low based on average daily market capitalization, with no substantial impact on the operations of the companies being removed[2][18] Index Fund Growth - The scale of North Exchange 50 index funds has seen significant growth from 2.94 billion CNY in 2022 to 14.165 billion CNY by January 31, 2026[2][18] - The number of products tracking the North Exchange 50 index increased from 16 in 2022 to 79 by the end of January 2026[2][18] Market Performance - The North Exchange 50 Index closed at 1,531.55 points, down 3.59% from the previous week, with a price-to-earnings ratio (PETTM) of 64.12X[2][32] - The overall PE ratio for North Exchange A-shares decreased to 47.58X, while the ChiNext and STAR Market also saw declines in their PE ratios[2][23][32] Liquidity and Trading Activity - The average daily trading volume for North Exchange A-shares was 29.948 billion CNY, reflecting an increase of 11.62% week-over-week[2][26] - The average turnover rate for North Exchange A-shares was 5.88%, up by 0.44 percentage points[2][26] Valuation Trends - As of January 31, 2026, 44.86% of North Exchange companies had a PETTM exceeding 45X, indicating a high valuation environment[2][37] - The valuation gap between North Exchange and other markets is widening, suggesting a relative valuation advantage for North Exchange stocks[2][47]

湖南广信科技股份有限公司 关于新增募集资金专户并签订募集资金三方监管协议的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带法 律责任。 证券代码：920037 证券简称：广信科技 公告编号：2026-009 一、募集资金基本情况 湖南广信科技股份有限公司（以下简称"公司"）向不特定合格投资者公开 发行股票并在北京证券交易所上市申请已于2025年4月23日经北京证券交易所上 市委员会审核同意，并于2025年5月20日获得中国证券监督管理委员会（以下简 称"中国证监会"）出具的《关于同意湖南广信科技股份有限公司向不特定合格 投资者公开发行股票注册的批复》（证监许可〔2025〕1078号）。 公司本次向不特定合格投资者发行股票2,000.00万股（超额配售选择权行使 前），每股发行价格为人民币10元，募集资金总额为人民币200,000,000.00元（ 超额配售选择权行使前），扣除不含税的发行费用人民币28,939,622.65元（超 额配售选择权行使前），募集资金净额为人民币171,060,377.35元（超额配售 ...

分 户 aw Firm 网站：www.qiyuan.com 致:湖南广信科技股份有限公司 湖南启元律师事务所(以下简称"本所")接受湖南广信科技股份有限公司(以 下简称"公司"）的委托,指派本所律师出席了公司 2026年第一次临时股东会(以 下简称"本次股东会"),对本次股东会的召集和召开程序、出席会议人员及召集人 的资格、表决程序和表决结果的合法有效性进行现场律师见证,并发表本法律意见。 本所律师根据《中华人民共和国公司法》(以下简称"《公司法》")、《中华人民 共和国证券法》(以下简称"《证券法》"、《上市公司股东会规则》(以下简称"《股 东会规则》")等我国现行法律、法规、规范性文件以及《湖南广信科技股份有限公 司章程》(以下简称"《公司章程》")的有关规定出具本法律意见书。 2026年第一次临时股东会的 法律意见书 湖南省长沙市芙蓉区建湘路 393 号世茂环球金融中心 63 层 410000 电话:(0731) 82953-778 传真:(0731) 82953-779 湖南启元律师事务所 关于湖南广信科技股份有限公司 本所律师声明如下: (一) 本所律师根据本法律意见书出具日以前已经发生或者存在的事 ...

证券代码：920037 证券简称：广信科技 公告编号：2026-008 2026 年第一次临时股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、会议召开和出席情况 湖南广信科技股份有限公司 （一）会议召开情况 1.会议召开时间：2026 年 1 月 29 日 其中通过网络投票参与本次股东会的股东共 16 人，持有表决权的股份总数 13,976,304 股，占公司有表决权股份总数的 15.2808%。 （三）公司董事、高级管理人员出席或列席股东会情况 2.会议召开地点：湖南省长沙市宁乡市金沙西路 077 号广信新材料会议室 3.会议召开方式：现场投票和网络投票相结合 4.会议召集人：董事 5.会议主持人：魏雅琴女士 6.召开情况合法合规的说明： 本次会议的召集、召开与表决程序符合《中华人民共和国公司法》《北京证 券交易所股票上市规则》等有关法律、行政法规、部门规章、规范性文件和《湖 南广信科技股份有限公司章程》的规定。 （二）会议出席情况 出席和授权出席本次股东会的股东共 22 人，持有 ...

Investment Rating - The report maintains a rating of "Outperform" for the company, indicating a positive outlook compared to the market [7]. Core Insights - The company is expected to achieve a net profit attributable to shareholders of between 190 to 210 million yuan in 2025, representing a year-on-year growth of 63.6% to 80.8% [4]. - In Q4 2025, the company anticipates a net profit of 40.02 to 60.02 million yuan, showing a year-on-year increase of 5.2% to 57.8% [4]. - The company is experiencing robust market demand, with product volume and price increases contributing to significant revenue growth [8]. Financial Data and Profit Forecast - Total revenue is projected to reach 826 million yuan in 2025, with a year-on-year growth rate of 43.0% [6]. - The net profit for 2025 is estimated at 200 million yuan, reflecting a year-on-year increase of 72.4% [6]. - Earnings per share are expected to be 2.19 yuan in 2025, with a projected gross margin of 37.3% [6]. - The company’s return on equity (ROE) is forecasted to be 21.2% in 2025 [6]. Market Demand and Production Capacity - The company is focusing on ultra-high voltage products, with significant capacity expansion expected in the next 1-2 years [8]. - The second phase of production for high/ultra-high voltage insulation materials is set to contribute significantly to revenue in 2026 [8]. - The establishment of a wholly-owned subsidiary in Hong Kong indicates the company's strategy to expand into overseas markets [8].

Market Performance - On January 29, 2026, the North Exchange 50 index decreased by 1.69%, closing at 1,536.00 points[1] - The overall trading volume on the North Exchange was 29.703 billion CNY, with a turnover rate of 4.79%[1] - The total market capitalization of the North Exchange was 937.031 billion CNY, with a circulating market value of 583.083 billion CNY[1] Sector Performance - The top-performing sectors included Oil & Petrochemicals (+30.0%), Media (+19.8%), and Food & Beverage (+5.1%) on the same day[1] - The sectors with the largest declines were Non-ferrous Metals (-3.3%), Electric Power Equipment (-2.5%), and Social Services (-1.9%)[1] Stock Performance - Among the 291 listed companies, 85 saw an increase, 3 remained flat, and 203 experienced a decline[1] - The leading gainers included Keli Co. (+29.99%), Liujin Technology (+19.82%), and Meibang Technology (+12.70%) while the largest decliners were Nongda Technology (-12.93%), Guangxin Technology (-9.91%), and Aweite (-7.91%)[1] Valuation Metrics - The overall valuation of the North Exchange was approximately 48.50 times earnings, which is higher than the ChiNext's 45.59 times but lower than the Sci-Tech Innovation Board's 79.67 times[1] - The highest average P/E ratio by sector was in Non-ferrous Metals at 140.1 times, followed by Oil & Petrochemicals at 106.2 times and Food & Beverage at 90.1 times[1] Risks - Potential risks include lower-than-expected policy support, insufficient technological innovation, intensified market competition, and market volatility[1][16]

Core Viewpoint - Guangxin Technology Co., Ltd. is expected to achieve a net profit of 190 million to 210 million yuan in 2025, representing a year-on-year growth of 63.55% to 80.77%, driven by strong performance in the insulation materials sector [1] Group 1: Company Performance - The company focuses on power transmission and transformation systems, new energy industries, electrified railways, and special equipment, with core products being insulation fiber materials and their molded products [1] - Guangxin Technology is one of the few companies in China that covers the entire voltage range from medium and low voltage to ultra-high voltage direct current, with production capabilities for insulation materials and overall outlet devices at 750kV and above [1] - The significant increase in performance is attributed to both external factors, such as the acceleration of new energy substitution driven by the "dual carbon" goals and the continuous demand for power grid upgrades, and internal factors, including proactive management and efficiency improvements [1] Group 2: Capacity Expansion and Market Strategy - To seize industry opportunities, Guangxin Technology is actively expanding production capacity and improving its layout, with the second phase of the Ningxiang project successfully passing relevant inspections and entering full production [2] - The company's subsidiary, Jiangsu Xinrun Electric New Materials Co., Ltd., officially opened in December 2025, focusing on the manufacturing and sales of insulation molded parts [2] - Guangxin Technology plans to use this subsidiary as a pivot to further deepen market expansion in Jiangsu and surrounding areas, enhancing customer service systems to support regional business growth [2]

（文章来源：证券日报） 证券日报网讯 1月28日，广信科技发布公告称，公司预计2025年归属于上市公司股东的净利润为19000 万元至21000万元，上年同期为11617.18万元，同比增长63.55%至80.77%。 ...

单位：万元 证券代码：920037 证券简称：广信科技 公告编号：2026-007 湖南广信科技股份有限公司 2025 年年度业绩预告公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 特别提示：本公告所载 2025 年年度主要财务数据为初步核算数据，未经会 计师事务所审计，具体数据以公司 2025 年年度报告中披露的数据为准，提请投 资者注意投资风险。 一、本期业绩预告情况 (一)业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 (二)业绩预告情况 √年度实现盈利，且净利润与上年同期相比上升 50%以上 | 项目 | | 本报告期 | 上年同期 | 变动比例% | | --- | --- | --- | --- | --- | | | | 19,000～21,000 | 11,617.18 | 63.55%～80.77% | | 归属于上市 股东的净利润 | 公司 | | | | 二、本期业绩重大变化的主要原因 公司 2025 年业绩同比上升，主要得益于以下两方面因素 ...

Core Viewpoint - The article discusses the recent surge in IPO activities on the Beijing Stock Exchange (北交所), highlighting the rapid pace of new stock listings and the strong market performance of newly listed companies, indicating a positive trend for investors and the market overall [3][4][6]. Group 1: IPO Activities - Three listing committee meetings and two new stock listings occurred within a week, with Aisheren (爱舍伦) debuting on January 21, 2026, and experiencing a significant first-day increase of 175.59%, closing at 44.04 yuan per share [3][4]. - Aisheren's IPO details include an issuance price of 15.98 yuan per share, a price-to-earnings ratio of 14.99, and total funds raised amounting to 270 million yuan [4]. - The upcoming listing of Guoliang New Materials (国亮新材) is set for January 22, 2026, contributing to a total of three new stocks listed in January [5]. Group 2: Market Performance - In 2025, the Beijing Stock Exchange had 26 new stocks listed, averaging about two per month, with some months seeing up to five listings [6]. - The average first-day increase for new stocks in 2025 was approximately 368%, with notable performers like Dapeng Industrial (大鹏工业) achieving a 1211.11% increase [6][8]. - The strong performance of new stocks has led to a significant market expectation for continued high returns, with no stocks experiencing a first-day drop in 2025 [6][8]. Group 3: Listing Review Acceleration - The listing review process on the Beijing Stock Exchange has accelerated, with six committee meetings held in January 2026 alone, indicating a trend of increased efficiency in the IPO process [7][8]. - Analysts note that the review process for specialized and innovative companies has become notably quicker, with some companies moving from application to approval in just a few months [8]. - The focus of the listing reviews appears to be on high-tech and advanced manufacturing sectors, reflecting a strategic support for these industries [8]. Group 4: Subscription and Frozen Capital - The subscription for new stocks has seen a significant increase, with frozen capital exceeding 800 billion yuan for several recent IPOs, indicating strong investor interest [9][12]. - Aisheren attracted 695,800 participants in its subscription, with a total frozen capital of 8789.21 million yuan [14]. - The upcoming IPOs of Nongda Technology (农大科技) and Meidel (美德乐) are expected to further increase the frozen capital, reflecting ongoing investor enthusiasm for new listings [16].