（文章来源：证券时报网） 佳合科技 | 301501 | 恒鑫生活 | 78.88 | 35.12 | -6.79 | | --- | --- | --- | --- | --- | | 603014 | C威高 | 37.11 | 34.65 | -4.53 | | 688755 | C汉邦 | 46.83 | 34.54 | -4.82 | | 920068 | 天工股份 | 20.90 | 33.73 | -7.11 | | 870299 | 灿能电力 | 23.78 | 33.65 | -5.63 | | 001206 | 依依股份 | 24.35 | 33.46 | 6.15 | | 300040 | 九洲集团 | 8.10 | 33.26 | -4.48 | | 301488 | 豪恩汽电 | 76.00 | 32.75 | -2.25 | | 600610 | 中毅达 | 15.79 | 32.63 | -5.11 | | 300703 | 创源股份 | 18.58 | 32.49 | -2.31 | | 837023 | 芭薇股份 | 29.28 | 32.19 | -4.38 | | 301 ...

Summary of Key Points Core Viewpoint - The Beijing Stock Exchange (BSE) has seen significant trading activity and new listings, indicating a growing market with increased investor interest and participation. Trading Activity - As of May 18, 2025, there are 266 companies listed on the BSE with a total share capital of 36.498 billion shares and a circulating share capital of 23.096 billion shares [2] - For the week of May 12 to May 18, the trading volume reached 8.072 billion shares, a week-on-week increase of 42.28%, while the trading amount was 173.488 billion yuan, up 39.35% from the previous week [3] - The average trading price during this period was 21.49 yuan, reflecting a decrease of 2.06% [3] - The BSE 50 Index rose by 3.13% to 1422.43 points, with 25 stocks increasing, none remaining flat, and 25 declining [3] New Listings - One company successfully listed on the BSE during the week, bringing the total to 266 [6] - Tian Gong Co., Ltd. (stock code: 920068) was the latest addition, listed on May 13, 2025, and is the first company to split from a Hong Kong stock to list on the BSE [7] - On its first trading day, Tian Gong's stock peaked with a 498.98% increase, closing at 20.17 yuan, a rise of 411.93% with a trading volume of 1.076 billion yuan [7] - As of May 19, 2025, Tian Gong's stock price reached 22.99 yuan, with a total market capitalization of 14.9 billion yuan, reflecting a 4.45% increase from its listing day [7] Upcoming Listings and Applications - As of May 18, 2024, there are 62 companies awaiting approval for listing on the BSE, including 5 under review, 48 in inquiry, and 8 submitted for registration [5] - One company, Youli Intelligent Equipment Co., Ltd. (stock code: 874325), passed the listing committee meeting during this period [12] - Youli Intelligent plans to raise 358 million yuan for the construction of a production base for photovoltaic support components and other projects [13] Financial Performance of Listed Companies - Tian Gong's revenue for 2022 to 2024 was 383 million yuan, 1.035 billion yuan, and 801 million yuan, with net profits of 70.31 million yuan, 175 million yuan, and 174 million yuan respectively [9] - For the first quarter of 2025, Tian Gong expects to achieve revenue of 192 million yuan [10] - Youli Intelligent's revenue for the same period was 433 million yuan, 658 million yuan, and 729 million yuan, with net profits of 42.19 million yuan, 78.17 million yuan, and 90.05 million yuan [14] Other Companies in the Pipeline - Several companies, including Yuelong Technology, Kelairedi, and Kanghua Co., have passed the counseling acceptance process, indicating their readiness for potential listing [20][21][24] - These companies are involved in various sectors, including medical devices, chemical pharmaceuticals, and tourism services, showcasing the diversity of industries represented on the BSE [24][26][27]

天工股份（920068）今日上涨1.59%，全天换手率35.72%，成交额5.11亿元，振幅8.77%。龙虎榜数据显 示，营业部席位合计净卖出69.35万元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交7620.66万元，其中，买入成交额为 3775.66万元，卖出成交额为3845.00万元，合计净卖出69.35万元。 具体来看，今日上榜营业部中，第一大买入营业部为东方财富证券股份有限公司拉萨团结路第二证券营 业部，买入金额为878.09万元，第一大卖出营业部为平安证券股份有限公司福州长乐北路证券营业部， 卖出金额为982.46万元。（数据宝） 北交所公开信息显示，当日该股因日换手率达35.72%上榜，营业部席位合计净卖出69.35万元。 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 东方财富证券股份有限公司拉萨团结路第二证券营业部 | 878.09 | 569.33 | | 买二 | 华泰证券股份有限公司上海武定路证券营业部 | 865.78 | 33.96 | | 买 ...

Group 1 - Jiangsu Tiangong Technology Co., Ltd. successfully listed on the Beijing Stock Exchange on May 13 [1] - The company, established in 2010, specializes in the research, production, and sales of titanium and titanium alloy materials, focusing on precision alloying and advanced processing techniques [3] - Tiangong's main products include titanium and titanium alloy wire, plates, and pipes, which are widely used in various sectors such as consumer electronics, chemical energy, sports leisure, and additive manufacturing [3] Group 2 - Chairman Zhu Zefeng expressed strong confidence and ambition for the future, stating that the listing is a new starting point for the company [9] - The company aims to seize strategic opportunities in the titanium alloy industry, focusing on technological innovation, product high-end development, diversified applications, and internationalization [9] - Tiangong plans to increase investment in core areas such as consumer electronics, aerospace, and healthcare, while promoting green and intelligent manufacturing to enhance its competitive advantages [9]

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、募集资金情况概述 证券代码：920068 证券简称：天工股份 公告编号：2025-039 江苏天工科技股份有限公司 关于签署募集资金三方监管协议的公告 江苏天工科技股份有限公司（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 2024 年 11 月 1 日经北京证券交易所上 市委员会审核通过，并于 2025 年 4 月 3 日收到中国证券监督管理委员会于 2025 年 3 月 31 日出具的《关于同意江苏天工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]635 号）。 公司本次公开发行股票 6,000.00 万股（超额配售选择权行使前），每股发行价 格为人民币 3.94 元，募集资金总额为人民币 236,400,000.00 元（超额配售选择权 行使前），扣除不含税的发行费用人民币 30,083,350.96 元（超额配售选择权行使 前），实际募集资金净额为人民币 206,316,6 ...

Summary of Key Points Core Viewpoint - On May 15, the Beijing Stock Exchange (BSE) saw a total trading volume of 1.834 billion shares and a trading value of 38.191 billion yuan, marking an increase of 4.862 billion yuan compared to the previous trading day. A total of 131 stocks closed higher, while 130 stocks closed lower [1]. Trading Performance - The trading performance on the BSE included 131 stocks that closed higher, accounting for 49.25% of the tradable stocks. Notable gainers included WanDe Co., TianGong Co., and Wuxi Jinghai, with increases of 28.12%, 20.29%, and 17.44% respectively [1]. - Conversely, 130 stocks closed lower, with the largest declines seen in ZhiSheng Information, FangDa New Materials, and LingGe Technology, which fell by 12.08%, 11.64%, and 7.63% respectively [1]. Trading Volume and Turnover - A total of 116 stocks had a trading value exceeding 10 million yuan, with the highest trading values recorded for GuoHang YuanYang (1.890 billion yuan), TianGong Co. (1.089 billion yuan), and HuaGuang YuanHai (934 million yuan) [1]. - The trading activity indicated high liquidity, with 88 stocks having a turnover rate exceeding 10%, and 28 stocks exceeding 20%. The highest turnover rates were observed in TianGong Co. (75.59%), HuaGuang YuanHai (62.28%), and Bawei Co. (54.19%) [1]. Notable Stocks - The following stocks were highlighted for their performance: - GuoHang YuanYang: Closing price of 13.43 yuan, up 8.74%, turnover rate of 46.24%, trading value of 1.889 billion yuan [1]. - TianGong Co.: Closing price of 24.54 yuan, up 20.29%, turnover rate of 75.59%, trading value of 1.089 billion yuan [1]. - Bawei Co.: Closing price of 35.39 yuan, up 29.97%, turnover rate of 54.19%, trading value of 606.64 million yuan [1]. Market Dynamics - The overall market dynamics reflected a mixed sentiment, with a significant number of stocks experiencing both gains and losses. The increase in trading volume and value suggests heightened investor interest and activity in the BSE [1].

Core Viewpoint - Jiangsu Tiangong Technology Co., Ltd. successfully went public on the Beijing Stock Exchange, raising a total of 236 million yuan through the issuance of 60 million shares at a price of 3.94 yuan per share, with a price-to-earnings ratio of 14.98 times [1][3]. Group 1: Company Overview - Tiangong Co. specializes in the research, production, and sales of titanium and titanium alloy materials, utilizing sponge titanium and other metal elements through various processes to create high-performance products [3]. - The company has been recognized as a national-level specialized and innovative "little giant" enterprise and a high-tech enterprise, with its technology center certified as a provincial enterprise technology center in Jiangsu [3]. - As of December 31, 2024, Tiangong Co. has obtained 51 patents, including 14 invention patents, which support its market leadership in high-end product manufacturing and cost control [3]. Group 2: Financial Performance - From 2022 to 2024, Tiangong Co.'s operating revenue increased from 383 million yuan to 801 million yuan, while the net profit attributable to shareholders after deducting non-recurring gains and losses rose from 64 million yuan to 170 million yuan [3]. Group 3: Fundraising and Future Plans - The funds raised will be invested in the construction of a production line for 3,000 tons of high-end titanium and titanium alloy bars and wires, aimed at expanding production capacity and enhancing product performance to improve market competitiveness [4]. - The successful listing marks a significant milestone in Tiangong Co.'s development, enabling it to leverage capital market resources to advance its core business and explore new fields in high-end titanium and titanium alloy materials [6]. Group 4: Underwriter's Role - Shenwan Hongyuan Securities acted as the lead underwriter and sponsor for the issuance, conducting thorough due diligence and receiving full recognition from the client for its efficient and high-quality service [8]. - Since 2015, Shenwan Hongyuan has closely accompanied Tiangong Co.'s growth, successfully facilitating its entry into the domestic capital market and gaining high recognition from both the market and the enterprise [8].

Core Viewpoint - The article highlights the exceptional performance of TianGong Co., Ltd. on its debut at the Beijing Stock Exchange, with a first-day increase of 411.93%, marking it as the largest first-day gain for a new stock this year [1][2]. Group 1: Stock Performance - TianGong's first-day increase of 411.93% surpasses other notable stocks such as XingTu Measurement Control (+407.23%) and HongHai Technology (+246.14%) [1]. - The stock continued to rise the next day with a trading volume turnover rate of 53%, indicating strong investor interest and higher expectations [1]. - In the historical context of the Beijing Stock Exchange, TianGong's performance ranks fifth, with the top four stocks experiencing significant declines in subsequent days, suggesting potential "bubble" characteristics in their initial gains [1]. Group 2: Market Capitalization and Parent-Child Company Dynamics - After two days of trading, TianGong's total market capitalization reached 13.2 billion, placing it in the top five of the Beijing Stock Exchange [2]. - TianGong is the first company to be listed on the Beijing Stock Exchange as a spin-off from a Hong Kong-listed parent company, TianGong International, which has a market cap of 5.2 billion [4]. - The article notes instances of "market cap inversion" where the child company (TianGong) has a higher market cap than its parent company (TianGong International), reflecting the market's preference for high-growth prospects [5][6]. Group 3: Market Trends and Implications - The article suggests that the enthusiasm for low-priced new stocks and favorable market conditions, such as the easing of trade disputes, contributed to TianGong's successful debut [2]. - The significant pricing difference between the primary and secondary markets may attract more companies to list on the Beijing Stock Exchange, enhancing its capacity to accommodate new listings [6]. - The liquidity premium observed in the market indicates a robust environment for new stocks, fostering a positive cycle of stock performance and investor interest [6].

Market Overview - As of May 14, the Shanghai Composite Index closed at 3403.95 points, up 29.08 points, with a gain of 0.86% [1] - The Shenzhen Component Index closed at 10354.22 points, up 66.14 points, with a gain of 0.64% [1] - The ChiNext Index closed at 2083.14 points, up 20.88 points, with a gain of 1.01% [1] High Turnover Stocks - A total of 113 A-shares had a turnover rate exceeding 20% on May 14, indicating significant trading activity [1] - Notable stocks with high turnover rates include: - Huaguang Yuanhai (证券代码: 872351) with a turnover rate of 62.71% and a price increase of 30.00% [1] - Xinlei Co., Ltd. (证券代码: 301317) with a turnover rate of 61.73% and a price increase of 8.62% [1] - Huafang Co., Ltd. (证券代码: 600448) with a turnover rate of 56.17% and a price increase of 6.43% [1] Additional High Turnover Stocks - Other stocks with notable turnover rates include: - Hongqiang Co., Ltd. (证券代码: 002809) with a turnover rate of 53.74% and a price increase of 3.84% [1] - Changhua Chemical (证券代码: 301518) with a turnover rate of 53.66% and a price increase of 6.99% [1] - Qingdao Jinwang (证券代码: 002094) with a turnover rate of 52.89% and a price increase of 10.06% [1] Summary of Turnover Rates - The data indicates a trend of increased trading activity in the market, with several stocks experiencing significant price movements alongside high turnover rates [1][2][3][4]

Core Viewpoint - The article highlights the impressive debut performance of Tian Gong Co., Ltd. on the Beijing Stock Exchange, with a first-day increase of 411.93%, making it the second-highest debut gain of the year. The stock's low issuance price and favorable market conditions contributed to its success [1][3]. Summary by Sections Company Performance - Tian Gong Co., Ltd. had a listing price of 3.94 yuan, the lowest among new stocks this year. Its first-day performance was only surpassed by Jiangnan New Materials, which had a debut increase of 606.83% [1][4]. - The company reported revenues of 283 million yuan and 383 million yuan for 2021 and 2022, respectively, with year-on-year growth rates of 55.23% and 35.65%. However, in the previous year, revenue dropped to 801 million yuan, a decline of 22.59% [4][12]. Market Trends - A total of 38 new stocks have been listed this year, with a significant trend of low-priced stocks attracting investor interest. Many stocks with initial prices below 10 yuan have seen first-day gains exceeding 300% [1][6]. - The article notes that 60% of new stocks this year have experienced first-day increases of over 200%, indicating a strong market for new listings [6][9]. Industry Insights - The sectors with the most successful new listings include electric power equipment, non-ferrous metals, and basic chemicals. These industries have shown strong performance in terms of first-day gains [8]. - The article mentions that the average increase for the basic chemicals and non-ferrous metals sectors is 15.63% and 12.2%, respectively, indicating robust market conditions in these areas [8]. Strategic Changes - The Beijing Stock Exchange has optimized its new stock issuance strategy, increasing the number of strategic investors allowed and raising the strategic allocation ratio from 30% to 50% for larger offerings [5].