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、募集资金基本情况 长沙族兴新材料股份有限公司（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 12 月 3 日经北京证券交易 所上市委员会审议通过，并由中国证券监督管理委员会于 2026 年 1 月 13 日出具 《关于同意长沙族兴新材料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〔2026〕59 号）同意注册，公司股票于 2026 年 3 月 18 日在北京证券交易所上市。 公司本次向不特定合格投资者发行股票 23,000,000 股，每股发行价格为人 民币 6.98 元，募集资金总额为人民币 160,540,000.00 元，扣除不含税的发行费 用 24,152,830.18 元，募集资金净额为人民币 136,387,169.82 元。募集资金已 于 2026 年 3 月 11 日划至公司指定账户。上述募集资金到位情况经由天健会计 师事务所（特殊普通合伙）验资并出具了《验资报告》 ...

Investment Rating - The report does not explicitly state an investment rating for the industry or specific stocks Core Insights - Recent tracking of offline IPO market performance shows that as of March 20, 2026, the A-class accounts with a scale of 200 million had an IPO return of 0.35%, while B-class accounts of the same scale had a return of 0.32%. For 1 billion scale accounts, A-class had a return of 0.18% and B-class 0.16% [2][10] - The average first-day price increase for newly listed stocks in the Sci-Tech Innovation Board was 247.88%, while for the Growth Enterprise Market it was 222.61% [2][21] - The number of effective quotation accounts for recent new stocks indicates that the latest Sci-Tech Innovation Board stock had 5,178 A-class effective quotation accounts and 2,324 B-class accounts. The latest Growth Enterprise Market stock had approximately 4,858 A-class accounts and 3,071 B-class accounts [2][28] Summary by Sections 1. Tracking Recent Offline IPO Returns - The report tracks the performance of offline IPOs across the Sci-Tech Innovation Board, Growth Enterprise Market, and Main Board, providing detailed return rates for different account sizes [10] 2. Recent IPO Results - The report details the IPO results of specific companies, including Hongming Electronics and Shiya Technology, highlighting their issuance prices, market capitalizations, and subscription rates [29][30] 3. Recent IPO Calendar - The report outlines the IPO calendar, indicating the status of various stocks in the inquiry and subscription phases, along with expected fundraising amounts [34][36] 4. Recent IPO Market Performance - The report summarizes the performance of newly listed stocks over the past two months, noting that most had first-day price changes between 50% and 600%, with the highest increases recorded for specific companies [39] 5. Theoretical IPO Return Calculations - The report provides calculations for potential returns based on different account sizes and average subscription rates, detailing expected returns for A-class and B-class accounts [46][53]

Market Performance - On March 23, 2026, the Beijiao Exchange 50 index decreased by 5.48%, closing at 1,244.03 points[1] - The overall trading volume on the Beijiao Exchange was 16.946 billion yuan, with a turnover rate of 3.30%[1] - The total market capitalization of the Beijiao Exchange was 792.81 billion yuan, with a circulating market value of 479.93 billion yuan[1] Industry Trends - The majority of industries on the Beijiao Exchange experienced declines, with the beauty and personal care sector dropping by 8.8% and construction materials by 7.9%[1] - The only sector that saw an increase was oil and petrochemicals, which rose by 2.5%[1] Stock Performance - Among the 300 listed companies, only 14 saw an increase, while 286 experienced declines[1] - The top gainers included *ST Yunchuang (+28.09%) and Oputai (+10.45%), while the largest decliners were Xinhengtai (-18.46%) and Zuxing New Materials (-10.52%)[1] Valuation Insights - The overall valuation of the Beijiao Exchange was approximately 38.72 times earnings, lower than the ChiNext and STAR Market, which had P/E ratios of 42.15 and 69.05 respectively[1] - The highest average P/E ratio was in the oil and petrochemical sector at 132.9 times[1] Risk Factors - Potential risks include lower-than-expected policy support, insufficient technological innovation, intensified market competition, and market volatility[1]

Group 1 - The market sentiment has reached a freezing point, with the North Exchange 50 index dropping by 5.76% and average daily trading volume decreasing by 19.37% [11][16][27] - The North Exchange ERP indicator has returned to within -1 standard deviation, and the proportion of strong stocks has fallen to a historical low of 5.6% [11][12][16] - The market's overall risk appetite continues to decline, with small-cap, low-price, and loss-making indices leading the decline, while high-quality indices show slight gains [11][12] Group 2 - The North Exchange has entered a high-quality expansion phase, with 16 new stocks issued since the beginning of 2026, maintaining a weekly issuance pace of about 2 stocks [13] - The report highlights investment opportunities in new and newly listed stocks, with a projected total issuance of 60 stocks for the year [13] - Key stocks to watch include those in the energy and power equipment supply chain, semiconductor self-control, and technology sectors such as AI and commercial aerospace [13] Group 3 - The North Exchange's PE (TTM) average is 82.21 times, with a median of 41.60 times, indicating a decline compared to previous periods [28][26] - The trading volume for the week was 3.584 billion shares, with a trading value of 79.534 billion yuan, both showing a decrease from the previous week [27][16] - The North Exchange has seen 11 stocks rise and 289 stocks fall, with a rise-to-fall ratio of 0.04 [41]

Market Performance - As of March 20, 2026, the North Exchange 50 Index fell by 5.76% compared to the previous week, while the Shanghai and Shenzhen 300 Index decreased by 2.19%[18] - The average market capitalization of North Exchange A-share component stocks is 2.799 billion yuan, with a daily average trading volume of approximately 15.907 billion yuan, down 19.37% from the previous week[18] - The turnover rate for North Exchange A-shares is 3.97%, a decrease of 0.2 percentage points from the previous week, indicating better liquidity compared to other major markets[18] Investment Recommendations - The price-to-earnings (PE) ratios for North Exchange A-shares, ChiNext, Shanghai Main Board, Shenzhen Main Board, and Sci-Tech Innovation Board are 51.51, 71.44, 13.87, 41.19, and 216.33 respectively as of March 20, 2026[28] - Investors are advised to focus on stocks with better-than-expected performance and those with significant technological barriers and alignment with industrial policies in innovative growth sectors[28] Economic Insights - The National Bureau of Statistics reported a 14.2% year-on-year increase in the value added of the computer, communication, and other electronic equipment manufacturing industries for January and February 2026[10] - The Ministry of Industry and Information Technology aims for the number of fuel cell vehicles in China to reach 100,000 by 2030, with hydrogen prices targeted to drop below 25 yuan per kilogram[11] New Listings - Zuxing New Materials (stock code: 920078.BJ) was listed on March 18, 2026, focusing on aluminum pigments and fine spherical aluminum powder[25] - Xinhengtai (stock code: 920028.BJ) was listed on March 20, 2026, specializing in functional polymer foaming materials[26]

Core Viewpoint - The Beijing Stock Exchange (BSE) has reached a significant milestone with 300 listed companies, marking a 3.7 times increase in company numbers since its inception in November 2021, and a total market capitalization of approximately 900 billion yuan [1][4]. Group 1: Market Growth and Performance - The BSE has shown remarkable growth over four years, with the number of listed companies increasing from 81 to 300 and total market capitalization rising from under 300 billion yuan to around 900 billion yuan [4]. - In 2025, 63% of the 293 companies that reported earnings achieved revenue growth, with three companies experiencing revenue increases exceeding 100% [5]. - The average research and development intensity among the 300 listed companies exceeds 5%, with total fundraising surpassing 60 billion yuan, primarily directed towards R&D and capacity expansion [5]. Group 2: New Listings and Industry Focus - In 2026, 12 new companies were listed on the BSE, with a strong emphasis on high-end equipment, artificial intelligence, new materials, biomedicine, and industrial software [7]. - Over 70% of the new listings are classified as national-level specialized and innovative "little giants," showcasing a focus on cutting-edge technology and niche market leadership [7]. - The first-day stock price increases for new listings predominantly fell within the 100% to 200% range, indicating a robust market response and improved investor confidence [7]. Group 3: Future Outlook and Strategic Recommendations - The increase to 300 listed companies represents not only growth but also a new starting point for the BSE, emphasizing the need for continued reform and optimization of the market ecosystem [9][11]. - Experts suggest that the BSE should enhance its appeal to quality companies and improve market liquidity by potentially introducing an ETF and accelerating the implementation of reform measures [10]. - The BSE aims to differentiate itself by focusing on serving innovative small and medium-sized enterprises, ensuring a sustainable growth trajectory and a supportive market environment [10][11].