Group 1 - On September 26, Haocreat Ruitong's stock surged by 190.76%, with a trading volume of 1.188 billion yuan [1] - The financing buy-in amount for Haocreat Ruitong on the same day was 45.4771 million yuan, with a net financing buy-in of 41.9169 million yuan [1] - As of September 26, the total balance of margin trading for Haocreat Ruitong was 41.9169 million yuan, accounting for 2.98% of its market capitalization [1] Group 2 - As of September 26, the number of shareholders for Haocreat Ruitong reached 29,500, an increase of 246,050% compared to the previous period [2] - For the first half of 2025, Haocreat Ruitong reported operating revenue of 451 million yuan, a year-on-year increase of 2.97%, and a net profit attributable to shareholders of 61.6098 million yuan, reflecting a year-on-year growth of 15.80% [2]

Core Points - C Haocreat (301668) experienced a significant increase of 190.76% on its first trading day, with a turnover rate of 81.60% and a transaction volume of 1.188 billion yuan [2] - The stock's first-day margin trading saw a buy amount of 45.4771 million yuan, accounting for 3.83% of the total trading volume, with a latest margin balance of 41.9169 million yuan, representing 2.98% of the circulating market value [2] - The company specializes in the research, production, and sales of smart distribution equipment, including smart ring network cabinets, smart pole-mounted switches, and box-type substations [2] - On its debut, the stock attracted a net inflow of 355 million yuan from major funds, with large orders contributing 172 million yuan and 183 million yuan respectively [2] - The top five trading departments on the stock's first day had a total transaction of 94.3824 million yuan, with a net purchase of 49.5319 million yuan [2] Financial Data Summary - C Haocreat's first-day financing balance was 41.9169 million yuan, which is 2.98% of its circulating market value [2] - The stock's first-day performance was significantly higher compared to other recent IPOs, such as Jin Hua New Materials (133.00% increase) and C United Dynamics (147.60% increase) [2] - The stock's first-day margin trading details indicate no short selling balance, highlighting strong investor confidence [2]

Core Insights - The article analyzes the phenomenon of initial public offering (IPO) speculation in the A-share market, likening it to selling spoiled fruit at a high price, where new stocks are often "dressed up" to hide flaws and exaggerate strengths [1] - Original shareholders push for high valuations during IPOs for financing, while retail investors are drawn to the "profit-making effect" of new stocks despite knowing the high pricing logic [1] - The structure of share distribution, such as in the case of Haocreator Ruitong with 79.04% of shares being restricted, allows institutions to easily manipulate stock prices through a "pump and dump" strategy [1] Summary by Sections IPO Speculation Dynamics - New stocks are often subject to initial speculation, with significant profit potential in the early stages due to the absence of price limits and the T+1 trading system, which stimulates investor interest [1] - The current rules tacitly allow for initial speculation, which can attract funds to support real economy financing [1] Historical Context and Future Implications - Historical data indicates that most heavily speculated new stocks tend to revert to their true value within a year [1] - Changes in the Shanghai Composite Index's compilation rules in 2020 adjusted the inclusion timing of new stocks from 11 months post-listing to one year, reflecting a shift in how new stock performance is evaluated [1] Investment Strategies - Retail investors are advised to sell on the first day of trading for new stocks as a profit strategy and to avoid participating in the speculation of newly listed stocks, suggesting a wait-and-see approach for one to two years before considering investment [1]

Core Viewpoint - The sentiment surrounding new stock offerings, particularly for the company昊创瑞通, has shifted from fear of losses to a focus on maximizing gains, with investors now viewing initial public offerings (IPOs) as a lucrative opportunity rather than a risk [1][2]. Group 1: Market Sentiment and Investor Behavior - Investors are no longer worried about the possibility of a stock price drop on the first day of trading; instead, they are contemplating how to secure the highest returns from their investments [1][2]. - The initial trading of昊创瑞通 saw a significant price increase, opening at 58 yuan, which is a 176.2% rise from the issue price of 21 yuan, leading to potential profits of 18,500 yuan for early sellers [2][3]. - The stock price peaked at 75 yuan, representing a 257.14% increase, allowing for maximum profits of 27,000 yuan for those who sold at that point [3]. Group 2: Market Dynamics and Risks - Despite the initial surge, the stock price of昊创瑞通 experienced a decline, closing at 61.06 yuan, indicating volatility and the potential for losses for those who bought at higher prices [3][5]. - The phenomenon of "buying the hype" has led to a situation where some investors, driven by excitement, may find themselves facing significant losses as the market corrects itself after the initial euphoria [5][6]. - Historical patterns suggest that chasing high initial prices can lead to unfavorable outcomes, as the market often returns to a more rational valuation after the initial excitement fades [6].

Group 1 - C Haocreat (301668) debuted on the ChiNext board, closing on its first day at 61.06 yuan, an increase of 190.76% [1] - The total trading volume for the day was 18.81 million shares, with a total transaction value of 1.188 billion yuan and a turnover rate of 81.60% [1] - The top five trading departments on the leaderboard had a combined transaction amount of 94.38 million yuan, with a net buying amount of 49.53 million yuan [1] Group 2 - The stock experienced a net inflow of 355 million yuan from main funds throughout the day [2] - The top buying departments included Dongfang Caifu Securities and Guojin Securities, with significant buying amounts of 1635.93 million yuan and 1575.84 million yuan respectively [2] - One institutional seat appeared as the fifth largest selling department, with a net selling amount of 357.37 million yuan [1][2]

Core Insights - Haocreat Technology (昊创瑞通) closed at 61.06 yuan, with a significant increase of 190.76% [1] - The top five selling entities included one institutional special seat, which sold a net amount of 3.5737 million yuan [1] Trading Activity - The top five buying entities included: - Dongfang Caifu Securities Lhasa East Ring Road Second Securities Business Department with a buying amount of 16.3593 million yuan, accounting for 1.38% of total transactions [2] - Guowei Zhengcai Shenzhen Branch with a buying amount of 15.7584 million yuan, accounting for 1.33% [2] - Dongfang Caifu Securities Lhasa Tuanjie Road First Securities Business Department with a buying amount of 13.4571 million yuan, accounting for 1.13% [2] - Dongfang Caifu Securities Lhasa Tuanjie Road Second Securities Business Department with a buying amount of 13.3339 million yuan, accounting for 1.12% [2] - Dongfang Caifu Securities Lhasa East Ring Road First Securities Business Department with a buying amount of 13.0483 million yuan, accounting for 1.10% [2] - The top five selling entities included: - Dongfang Caifu Securities Lhasa East Ring Road Second Securities Business Department with a selling amount of 4.6733 million yuan, accounting for 0.39% of total transactions [2] - Dongfang Caifu Securities Lhasa Tuanjie Road Second Securities Business Department with a selling amount of 4.5832 million yuan, accounting for 0.39% [2] - Dongfang Caifu Securities Lhasa Tuanjie Road First Securities Business Department with a selling amount of 4.3690 million yuan, accounting for 0.37% [2] - Dongfang Caifu Securities Lhasa East Ring Road First Securities Business Department with a selling amount of 4.1348 million yuan, accounting for 0.35% [2] - Institutional special seat with a selling amount of 3.5737 million yuan, accounting for 0.30% [2] Summary of Transactions - Total buying amount from the top five buying entities was 71.9571 million yuan, representing 6.06% of total transactions [2] - Total selling amount from the top five selling entities was 22.4252 million yuan, representing 1.89% of total transactions [2]

Core Viewpoint - Haocreat Ruitong officially listed on the Shenzhen Stock Exchange's Growth Enterprise Market, marking a significant milestone for the company focused on smart distribution equipment and digital solutions for distribution networks [1] Group 1: Company Overview - Haocreat Ruitong specializes in smart distribution equipment and digital solutions for distribution networks, leveraging national strategic initiatives such as "carbon peak and carbon neutrality" to drive innovation and development [2] - The company has developed key technologies including fault location and self-healing technology for distribution networks, IoT-enabled sensing components, high-precision power sensor technology, and low-pressure sealed air-insulated technology [2] Group 2: Stock Market Performance - The initial public offering price was set at 21.00 yuan per share, with the stock opening at 58.00 yuan and peaking at 75.00 yuan before closing at 61.06 yuan, representing a 190.76% increase on the first day [1] - The total market capitalization reached 6.717 billion yuan, with a trading volume of 18.81 million shares and a turnover of 1.188 billion yuan, indicating a high turnover rate of 81.60% [1] Group 3: Future Plans and Investments - The company plans to use the raised funds of approximately 58.59 million yuan for projects including the production of smart ring network cabinets, smart pole-mounted switches, and the establishment of a smart distribution research center [3][4] - The projects aim to enhance production scale, automation, and information technology levels, thereby improving the company's competitive edge and ensuring sustainable operations [4]

Market Overview - As of September 26, the Shanghai Composite Index closed at 3828.11 points, down 25.20 points, a decline of 0.65% [1] - The Shenzhen Component Index closed at 13209.00 points, down 236.90 points, a decline of 1.76% [1] - The ChiNext Index closed at 3151.53 points, down 84.23 points, a decline of 2.60% [1] Stock Performance - A total of 51 A-shares had a turnover rate exceeding 20% on this day, indicating significant trading activity [1] - Notable stocks with high turnover rates included: - C Haocreat (301668) with a turnover rate of 81.60% and a price increase of 190.76% [1] - Jin Hua New Materials (920015) with a turnover rate of 74.80% and a price increase of 29.98% [1] - C Jianfa Zhi (301584) with a turnover rate of 62.67% and a price decrease of 17.94% [1] - Zhongdian Xinlong (002298) with a turnover rate of 52.78% and a price decrease of 6.74% [1] Additional Notable Stocks - Other stocks with significant turnover rates included: - C United Motion (301656) at 44.55% with a price increase of 2.10% [1] - B wavelength Optoelectronics (301421) at 35.92% with a price decrease of 7.32% [1] - Tianfu Long (603406) at 34.73% with a price increase of 3.24% [1] - Northern Long Dragon (301357) at 34.01% with a price increase of 3.11% [1] - Silicon Power (301629) at 32.73% with a price decrease of 6.22% [1]

New Stock Listings - The new stock "昊创瑞通" (code: 301668) is listed at an issuance price of 21.00 on September 26, 2025[1] - "上纬新材" (code: 688585) is undergoing a tender offer from September 29 to October 28, 2025[1] Market Alerts - "紫天退" (code: 300280) is in the delisting preparation period with 5 trading days remaining[1] - "开普云" (code: 688228) has reported severe abnormal fluctuations[1] Recent Announcements - "博瑞医药" (code: 688166) and "科思科技" (code: 688788) have recent announcements linked for further details[1] - "园林股份" (code: 605303) and "中环海陆" (code: 301040) also have recent disclosures available[1] Trading Insights - The report includes various stocks with their respective codes and recent trading activities, indicating a dynamic market environment[1] - The document highlights the importance of monitoring stock performance and regulatory announcements for investment decisions[1]

Group 1 - HCRT officially entered the capital market on September 26, marking a new chapter in its development [1] - Beijing HCRT Electrical Equipments Co., Ltd. was established in February 2007 and focuses on smart distribution equipment and digital solutions for distribution networks [1] - The company specializes in the research, production, and sales of smart distribution equipment, including smart ring main units, smart pole-mounted switches, and box-type substations [1] Group 2 - The successful listing of HCRT is a significant milestone in the company's development and reflects its strengths in technology innovation, market layout, management team, and brand building [5] - The company aims to leverage this listing as an opportunity to continue its innovation-driven and quality-focused development philosophy, enhancing its core competitiveness in the smart distribution equipment sector [5]