免责声明：本文内容与数据仅供参考，不构成投资建议，使用前核实。据此操作，风险自担。 每日经济新闻 每经讯，2026年2月9日，北交所上市公司科马材料（920086，收盘价：35.92元）发生一笔大宗交易，成交价25.14元/股，成交 数量9.94万股，成交金额249.89万元，折价30.01%。买入营业部是浙商证券股份有限公司丽水分公司，卖出营业部是浙商证券股 份有限公司松阳长松路证券营业部。 （记者 曾健辉） ...

Investment Rating - The report maintains an "Outperform" rating for the industry [5] Core Insights - The North Exchange's stock market activity has significantly increased, with new stock market funds exceeding 1 trillion [1] - The North Exchange added 5 new listed companies this month, bringing the total to 292, with a total market value of 936.30 billion and a circulating market value of 580.36 billion, reflecting increases of 7.7% and 10.3% respectively [1][13] - The North Exchange's trading volume and amount for the month were 24.52 billion shares and 607.72 billion, with a month-on-month increase of 26.8% in volume and 38.6% in amount [1][16] - The North Exchange 50 Index had a price-to-earnings ratio (PE-TTM) of 45.96, ranking in the 60.46th percentile over the past two years, and a price-to-book ratio (PB-MRQ) of 9.50, ranking in the 91.10th percentile [2][25] - The North Exchange's various sectors, except for the automotive sector, experienced a general increase in returns this month, with significant gains in media, non-ferrous metals, telecommunications, public utilities, and agriculture [32][37] Summary by Sections Market Overview - The North Exchange's trading activity has shown a notable increase, with a monthly trading volume of 24.52 billion shares and a trading amount of 607.72 billion, marking a month-on-month increase of 26.8% and 38.6% respectively [1][16] - The North Exchange's total market value reached 936.30 billion, with a circulating market value of 580.36 billion, reflecting increases of 7.7% and 10.3% respectively [1][13] Valuation - As of January 30, the North Exchange 50 Index's PE-TTM was 45.96, and its PB-MRQ was 9.50, indicating high valuation levels compared to historical data [2][25] - The dividend yield was recorded at 0.72, placing it in the 18.09th percentile over the past two years [2][25] Industry Performance - The North Exchange 50 Index experienced a monthly increase of 6.33%, while the specialized index rose by 6.06% [32] - Most sectors saw positive returns, with notable increases in media, non-ferrous metals, telecommunications, public utilities, and agriculture [37] - The top-performing stocks this month included Kema Materials, Medela, Aishalon, and Guoliang New Materials [42]

Investment Rating - The report maintains an "Outperform" rating for the industry [5] Core Insights - The Beijing Stock Exchange (BSE) has seen a significant increase in trading activity, with a notable rise in both transaction volume and value [1][20] - The total number of listed companies on the BSE reached 292, with a total market capitalization of 936.30 billion and a circulating market value of 58.04 billion, reflecting increases of 7.7% and 10.3% respectively [1][13] - The BSE's new stock market has attracted over 1 trillion in frozen funds, indicating strong market interest [3] Market Overview - In January 2026, the BSE's trading volume was 24.52 billion shares, with a transaction value of 607.72 billion, marking a month-on-month increase of 26.8% in volume and 38.6% in value [1][16] - The average daily margin financing balance increased to 8.83 billion, up 14.1% from the previous month [23] Valuation Metrics - As of January 30, the PE ratio of the BSE 50 Index was 45.96, placing it at the 60.46th percentile over the past two years, while the PB ratio was 9.50, at the 91.10th percentile [25][26] - The dividend yield stood at 0.72, at the 18.09th percentile over the same period [25] Industry Performance - The BSE 50 Index experienced a monthly increase of 6.33%, while the specialized index rose by 6.06% [32] - Most sectors, except for the automotive industry, saw positive returns, with significant gains in media, non-ferrous metals, telecommunications, public utilities, and agriculture [37][42] New Listings - Five new companies were listed on the BSE this month, including Meidele (920119.BJ), Nongda Technology (920159.BJ), Guoliang New Materials (920076.BJ), Aishalen (920050.BJ), and Kema Materials (920086.BJ) [1][3][13] Policy and Events - The BSE is characterized by a dual approach of "strict regulation" and "promoting activity," as evidenced by the recent delisting of ST Guandao and the strong market appeal indicated by the frozen funds exceeding 1 trillion [3]

证 券 研 究 报 告 单月发行5家企业，步入高质量扩容加速期 ——2026年北交所新股申购1月报 证券分析师：刘靖 A0230512070005 研究支持： 吕靖华 A0230124070002 2026.02.04 主要内容 ◼ 融资&审核 ◼ 申购&发行 ◼ 上市&收益 (1) 1 月 5 只 新 股 上 市 ， 首 日 涨 幅 中 值 +186.93% ， 科 马 材 料 / 爱舍伦 / 美 德 乐 / 国亮新材 / 农 大 科 技 首 日 涨 幅 为 +367.92%/+204.40%/+186.93%/+178.00%/+105.63%。 (2) 单只新股顶格申购收益率，新股美德乐/科马材料/爱舍伦/ 农大科技/国亮新材为+0.130%/+0.117%/+0.081%/+0.044%/+0.044%。 (3) 2025年北交所新股申购收益率累计+3.31%， 26年1月新股申购收益率累计+0.42%（注：按首日均价计算涨幅，不考虑产品现金冗余）。 ◼ 2026年新股申购收益及收益率预测 www.swsresearch.com 证券研究报告 2 1 3 1 2 3 3 3 3 1 1 1 1 1 2 ...

广东省有1家企业登陆A股，恒运昌在科创板上市，上述1家企业募资15.61亿元。 山东省有1家企业登陆A股，农大科技在北交所上市，上述1家企业募资4.00亿元。 河北省有1家企业登陆A股，国亮新材在北交所上市，上述1家企业募资1.94亿元。 江苏省有1家企业登陆A股，爱舍伦在北交所上市，上述1家企业募资2.70亿元。 中国经济网北京2月3日讯 （记者 关婧 田云绯） 2026年1月，上交所、深交所及北交所共计新增9家 上市企业，合计募集资金90.53亿元。其中沪深主板有3家企业上市，科创板有1家企业上市，北交所有5 家企业上市。 从归属地来看，2026年1月上市企业分布于8个省份及直辖市，其中浙江省有2家企业上市，辽宁 省、广东省、山东省、河北省、江苏省、重庆市、陕西省各有1家企业上市。 从单只个股募资金额来看，排名前五位的企业分别是振石股份、恒运昌、陕西旅游、至信股份、美 德乐，募资金额分别为29.19亿元、15.61亿元、15.55亿元、12.40亿元、6.70亿元，分别归属于浙江省、 广东省、陕西省、重庆市、辽宁省。 具体从归属地来看，浙江省有2家企业登陆A股，其中振石股份在沪市主板上市，科马材料在北交 ...

证券代码：920086 证券简称：科马材料 公告编号：2026-010 浙江科马摩擦材料股份有限公司 关于签署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。 一、募集资金基本情况 浙江科马摩擦材料股份有限公司（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于 2025 年 8 月 11 日经北京证券交易所上 市委员会审核同意，并于 2025 年 11 月 27 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《关于同意浙江科马摩擦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〔2025〕2618 号），公司股票于 2026 年 1 月 16 日在北京证券交易所上市。 三、监管协议主要内容 （一）甲方已在乙方开设募集资金专项账户（以下简称"专户"），该专户仅用于 甲方募集资金的存储和使用，不得用作其他用途。 （二）甲乙双方应当共同遵守《中华人民共和国票据法》《支付结算办法》《人 民币银行结算账户管理办法》等法律 ...

Core Insights - The Beijing Stock Exchange (BSE) has experienced a strong start in 2026, with a rapid pace of IPO approvals and listings, marking a significant expansion in high-quality companies [1] - As of January 30, 2026, the BSE has listed five new companies, bringing the total number of listed companies to 292, with a total market capitalization nearing 1 trillion yuan [1] Company Performance - **Kema Materials**: Listed on January 16, 2026, with a strong debut, seeing its stock price rise by 371.27% to close at 54.95 yuan per share, after peaking at a 585% increase [2] - **Aishalon**: Focused on medical health products, Aishalon's stock rose by 175.59% on its first day of trading, closing at 44.04 yuan per share [4] - **Guoliang New Materials**: Listed on January 22, 2026, with a stock price increase of 160.78%, closing at 28.06 yuan per share [6] - **Nongda Technology**: Officially listed on January 28, 2026, with a closing price of 52.89 yuan per share, reflecting a 111.56% increase from its opening price [7] - **Meidele**: Listed on January 30, 2026, with a significant opening price of 135 yuan per share, marking a 222.35% increase at the start of trading [7] Market Activity - The enthusiasm for new stock offerings has surged, with the total frozen funds for the five new IPOs exceeding 8 billion yuan each, and Meidele alone reaching approximately 1.06 trillion yuan, a record high for the BSE [9] - The average amount of funds frozen for new stock subscriptions has risen to 910 billion yuan, indicating strong investor interest [9] Roadshow Focus - All five newly listed companies conducted their online roadshows through a platform called "Panorama," emphasizing the importance of effective communication with investors [10]

Core Insights - The report indicates that since the fourth quarter, the funding structure of the Beijing Stock Exchange (BSE) has shown a "dual expansion" characteristic, with both the number and attention towards index funds steadily increasing, forming a preliminary bottom position for index products. Concurrently, some active funds are beginning to identify individual stocks with growth potential and undervaluation advantages, transitioning from a concentrated to a structured optimization approach, maintaining overall market stability [7][16] - From the market ecology perspective, the concentration of index constituent stocks has increased, and the valuation anchoring effect is gradually becoming evident. Some newly listed stocks with solid fundamentals and low coverage have become focal points for new incremental funds. As the allocation logic evolves towards the medium to long term, the market style is gradually shifting to a "selected + low turnover" characteristic. Overall, the current valuation of the BSE market offers relative cost-effectiveness, with a resonance structure among index funds, active funds, and new stock supply, which is expected to provide medium-term support for the market [7][16] Market Review and Valuation - As of January 29, 2026, the BSE 50 Index rose by 6.64% in January, with a maximum increase of 3.96% during the period. Among BSE stocks, 222 stocks increased, 69 stocks decreased, and none remained flat [8][17] - The average PE (TTM) of the BSE 50 Index as of January 29, 2026, is 64.50 times, with a median of 64.74 times. In comparison, the average PE (TTM) of the ChiNext Index is 43.24 times, and the Sci-Tech Innovation Board is 175.49 times [22] New Stock Dynamics - In January, four new stocks were listed on the BSE, bringing the total number of listed companies to 291 as of January 29, 2026. From January 1 to January 30, 2026, five companies were subscribed and five were listed [32] Key Company Announcements - The report includes various company announcements, highlighting significant contracts and operational updates from companies such as Copper Crown Mining, Taihu Yuanda, and Dana Biotechnology, which indicate ongoing business activities and strategic developments [40]

北交所网上打新热度屡攀高峰，美德乐打新冻资规模超1万亿元，创北交所历史新高 投资时间网、标点财经研究员 李路 作为中国资本市场深化改革、扩大开放的重要窗口，近年来北交所上市工作开展的如火如荼。据Wind统计，2025年北交所共上市26只新股，月均约2只个 股上市，部分月份出现5只新股扎堆上市的情况，募资规模达75.27亿元。下半年发行速度更是显著提升，呈现出"加速跑"态势。 从市场表现看，2025年全年，北交所无一新股首日破发，上市首日平均涨幅约368%，多只个股"首秀"甚至获得了5倍以上涨幅。其中，大鹏工业 （920091.BJ）以1211.11%的涨幅居首位，蘅东光（920045.BJ）首日涨幅878.16%，三协电机（920100.BJ）、广信科技（920037.BJ）的首日涨幅也均超过 500%。将这一表现放到整个A股市场都堪称亮眼，在A股2025年发行的116只新股中，上市首日涨幅排名前三的均来自北交所。 从过会企业情况看，多家属于高端制造业或战略性新兴领域，凸显了当前上市审核对硬科技产业及高端制造的重点扶持导向。例如，拓普泰克主要从事智 能控制器及智能产品的研发、生产和销售，产品广泛应用于消费电子 ...

证券代码：920086 证券简称：科马材料 公告编号：2026-009 浙江科马摩擦材料股份有限公司 投资者关系活动记录表 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、 投资者关系活动类别 □特定对象调研 □业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 √路演活动 □其他 二、 投资者关系活动情况 活动时间：2026 年 1 月 26 日 活动地点：上海市浦东新区陆家嘴国联民生会议室 参会单位及人员：国联民生证券股份有限公司、中山证券有限责任公司、圆 信永丰基金、华鑫证券自营分公司、联储证券股份有限公司、东北证券股份有限 公司、上海滦海投资管理有限公司、上海晨鸣私募基金管理有限公司、上海肇万 资产管理有限公司、睿亿投资 上市公司接待人员：公司董事、总经理徐长城先生，公司副总经理马崇江先 生，公司董事会秘书陈雷雷女士 三、 投资者关系活动主要内容 问题 1：公司干式摩擦片的产能瓶颈主要在什么地方？募投项目达成后， 对产能的影响如何，周期多长？ 回答：公司干式摩擦片影响产品产能的关 ...