Core Insights - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] Market Overview - As of November 18, there are 878 stocks with a circulating market value below 3 billion yuan, and 329 stocks with a circulating market value below 2 billion yuan [1] - A total of 1,609 stocks have a total market value below 5 billion yuan, with 470 stocks below 3 billion yuan [1] Smallest Stocks by Circulating Market Value - The three stocks with the smallest circulating market values are: - *ST元成: 189 million yuan - 坤泰股份: 677 million yuan - *ST苏吴: 690 million yuan [1] Smallest Stocks by Total Market Value - The three stocks with the smallest total market values are: - *ST元成: 189 million yuan - *ST苏吴: 690 million yuan - *ST长药: 774 million yuan [1] Selected Stocks with Low Circulating Market Value - A list of stocks with circulating market values below 2 billion yuan includes: - *ST元成: 189 million yuan, PE ratio: N/A, Industry: Construction Decoration - 坤泰股份: 677 million yuan, PE ratio: 49.21, Industry: Automotive - *ST苏吴: 690 million yuan, PE ratio: N/A, Industry: Pharmaceutical [1] - Additional stocks include 康力源 (716 million yuan, PE: 37.07, Light Industry), 科瑞思 (750 million yuan, PE: 183.29, Communication), and 万得凯 (767 million yuan, PE: 27.08, Machinery) [1] Additional Stocks with Low Total Market Value - Selected stocks with total market values below 2 billion yuan include: - *ST元成: 189 million yuan, Industry: Construction Decoration - *ST苏吴: 690 million yuan, Industry: Pharmaceutical - *ST长药: 774 million yuan, Industry: Pharmaceutical [1]

Investment Rating - The report does not provide a specific investment rating for the industry or companies mentioned [1]. Core Insights - The report highlights several new stock listings and trading activities scheduled for November 18, 2025, including companies such as Jingchuang Electric (12.10), Beikang Testing (6.70), and Nanguang Digital (5.69) [1]. - It also mentions various corporate actions such as tender offers, cash options, and acquisition requests, indicating active market movements [1]. Summary by Relevant Sections - **New Stock Listings**: Companies like Jingchuang Electric, Beikang Testing, and Nanguang Digital are set to debut on the market with respective prices of 12.10, 6.70, and 5.69 [1]. - **Corporate Actions**: The report details several corporate actions including a tender offer for Tianpu Co. (605255) from November 20 to December 19, 2025, and cash options for Hangqi Wheel B (200771) from November 19 to November 25, 2025 [1]. - **Market Alerts**: It lists companies experiencing significant fluctuations, such as Moen Electric (002451) and Huasheng Lithium Battery (688353), indicating potential investment risks and opportunities [1].

Core Insights - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] Market Overview - As of November 17, there are 847 stocks with a circulating market value below 3 billion yuan, and 322 stocks with a circulating market value below 2 billion yuan [1] - A total of 1,573 stocks have a total market value below 5 billion yuan, with 452 stocks below 3 billion yuan [1] Smallest Stocks by Circulating Market Value - The three stocks with the smallest circulating market values are: - *ST Yuan Cheng: 189 million yuan - Kuntai Co., Ltd.: 682 million yuan - *ST Su Wu: 697 million yuan [1] Smallest Stocks by Total Market Value - The three stocks with the smallest total market values are: - *ST Yuan Cheng: 189 million yuan - *ST Su Wu: 697 million yuan - *ST Chang Yao: 809 million yuan [1] Selected Small-Cap Stocks Overview - A table lists various small-cap stocks with their circulating market values, total market values, price-to-earnings ratios, and industry classifications, highlighting: - Kuntai Co., Ltd. with a circulating market value of 682 million yuan and a P/E ratio of 49.63 in the automotive sector - *ST Chang Yao with a total market value of 809 million yuan in the pharmaceutical sector [1][2]

Core Viewpoint - The average stock price of A-shares is 13.89 yuan, with 19 stocks priced below 2 yuan, the lowest being *ST Yuan Cheng at 0.58 yuan [1] Stock Price Distribution - As of November 17, the Shanghai Composite Index closed at 3972.03 points, with a relatively small proportion of high-priced and low-priced stocks in the A-share market [1] - Among the low-priced stocks, 19 are priced below 2 yuan, with *ST Yuan Cheng being the lowest at 0.58 yuan, followed by *ST Su Wu at 0.98 yuan and *ST Jin Ke at 1.48 yuan [1] Characteristics of Low-Priced Stocks - Of the stocks priced below 2 yuan, 8 are ST stocks, accounting for 42.11% of this group [1] - In terms of market performance, 3 of the low-priced stocks increased in price, with *ST Su Wu, Liao Port Co., and Greenland Holdings rising by 1.03%, 0.57%, and 0.53% respectively [1] - Conversely, 10 stocks declined, with *ST Jin Ke, Rongsheng Development, and ST Yigou experiencing declines of 3.90%, 3.59%, and 3.30% respectively [1] Low-Priced Stock Rankings - The table lists various low-priced stocks, including their latest closing prices, daily price changes, turnover rates, price-to-book ratios, and industries [1]

Core Insights - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] Market Overview - As of November 14, there are 863 stocks with a circulating market value below 3 billion yuan, and 325 stocks with a circulating market value below 2 billion yuan [1] - A total of 1,590 stocks have a total market value below 5 billion yuan, with 472 stocks below 3 billion yuan [1] Smallest Stocks by Circulating Market Value - The three stocks with the smallest circulating market values are: - *ST元成: 189 million yuan - *ST苏吴: 690 million yuan - 坤泰股份: 691 million yuan [1] Smallest Stocks by Total Market Value - The three stocks with the smallest total market values are: - *ST元成: 189 million yuan - *ST苏吴: 690 million yuan - *ST长药: 802 million yuan [1] Selected Stocks with Low Market Values - A list of stocks with circulating market values below 1 billion yuan includes: - *ST元成: 189 million yuan, PE ratio: N/A, Industry: Construction Decoration - *ST苏吴: 690 million yuan, PE ratio: N/A, Industry: Pharmaceutical Biology - 坤泰股份: 691 million yuan, PE ratio: 50.28, Industry: Automotive - 康力源: 715 million yuan, PE ratio: 37.01, Industry: Light Industry Manufacturing - 科瑞思: 748 million yuan, PE ratio: 182.81, Industry: Communication [1][2]

Core Viewpoint - The average stock price of A-shares is 13.92 yuan, with 20 stocks priced below 2 yuan, the lowest being *ST Yuan Cheng at 0.58 yuan [1] Stock Price Distribution - As of November 14, the Shanghai Composite Index closed at 3990.49 points, with a relatively small proportion of high-priced and low-priced stocks in the A-share market [1] - Among the low-priced stocks, 8 are ST stocks, accounting for 40% of those priced below 2 yuan [1] Market Performance - Out of the low-priced stocks, 18 saw an increase today, with notable gains from Rongsheng Development (10.17%), Yongtai Energy (9.82%), and *ST Jinke (4.76%) [1] Low-Priced Stock Rankings - The table lists various low-priced stocks, including their latest closing prices, daily price changes, turnover rates, price-to-book ratios, and industries [1] - For example, *ST Yuan Cheng has a closing price of 0.58 yuan, while *ST Suwu and *ST Jinke are at 0.97 yuan and 1.54 yuan respectively [1]

New Stock Issuance - Hai'an Group (Stock Code: 001233) issued at a price of 48.00 on November 14, 2025[1] - Hangzhou Qilun B (Stock Code: 200771) has a cash option declaration period from November 19 to November 25, 2025[1] - Hailianxun (Stock Code: 300277) has a buyback request declaration period from November 12 to November 18, 2025[1] Market Alerts - Pingming Technology (Stock Code: 688109) reported severe abnormal fluctuations on November 13, 2025[1] - ST Yuancheng (Stock Code: 603388) and ST Zhongzhu (Stock Code: 600568) also reported abnormal fluctuations on November 11, 2025[1] - ST Green Kang (Stock Code: 002868) and Dongbai Group (Stock Code: 600693) reported abnormal fluctuations on November 14, 2025[1] Additional Information - Multiple companies including ST Meigu (Stock Code: 000615) and ST Xiangyu (Stock Code: 600107) have ongoing announcements related to stock performance and market conditions[1][2] - The report includes links to detailed announcements for each stock, providing transparency and access to further information for investors[1]

Core Insights - Small-cap stocks exhibit higher volatility and activity compared to large-cap stocks, making them more likely to become market leaders [1] Market Overview - As of November 13, there are 866 stocks with a circulating market value below 3 billion yuan, and 331 stocks with a circulating market value below 2 billion yuan [1] - A total of 1587 stocks have a total market value below 5 billion yuan, with 483 stocks below 3 billion yuan [1] Smallest Stocks - The three stocks with the smallest circulating market values are *ST Yuan Cheng at 189 million yuan, Kuntai Co. at 674 million yuan, and *ST Su Wu at 697 million yuan [1] - The three stocks with the smallest total market values are also *ST Yuan Cheng at 189 million yuan, *ST Su Wu at 697 million yuan, and *ST Chang Yao at 778 million yuan [1] Stock Data Summary - A detailed list of stocks with circulating market values below 2 billion yuan includes various sectors such as construction decoration, automotive, and pharmaceuticals, with notable stocks like *ST Yuan Cheng, Kuntai Co., and *ST Su Wu [1][2]

2025年11月10日，元成股份（603388）发布关于收到公司终止上市相关事项的监管工作函的公告，称收 到上海证券交易所下发的《关于元成环境股份有限公司终止上市相关事项的监管工作函》，上交所提 及，"截至2025年11月10日，你公司股票收盘总市值已连续20个交易日均低于5亿元，根据《上海证券交 易所股票上市规则（2025年4月修订）》的规定，你公司股票已触及终止上市条件。你公司股票自2025 年11月11日开市起停牌，本所上市委员会将在公司提出听证、陈述和申辩的有关期限届满或者听证程序 结束后15个交易日内，就是否终止公司股票上市事宜进行审议。本所根据上市委员会的审议意见，作出 相应的终止上市决定。" 上海久诚律师事务所许峰律师代理的元成股份投资者索赔案已向法院提交立案，目前律师团队还在继续 推进后续案件的立案工作，还在继续接受其他投资者的索赔委托。 2025年10月9日，元成股份公告收到证监会浙江监管局下发的《行政处罚事先告知书》，经查明，元成 股份、祝昌人涉嫌违法的事实如下： 2、元成股份2022年非公开发行股票文件编造重大虚假内容（事项三） 许峰律师认为，综合相关违法事实，在2021年4月15日到2 ...

New Stock Issuance - Cash option declaration period for Hangzhou Steam Turbine (200771) is from November 19 to November 25, 2025[1] - Acquisition request period for Hailianxun (300277) is from November 12 to November 18, 2025[1] Trading Alerts - Severe abnormal fluctuation reported for Haike Xinyuan (301292) on November 11, 2025[1] - Abnormal fluctuation noted for ST Yuancheng (603388) on November 11, 2025[1] Company Announcements - Announcement for Tianji Co., Ltd. (002759) on November 13, 2025[1] - Announcement for Huatong Technology (688109) on November 13, 2025[1] Other Notable Events - ST Meigu (000615) reported on November 13, 2025[1] - ST Zhongdi (000609) reported on November 13, 2025[1]