科创板跟投报告：市场红利加持，4月末券商跟投浮亏比例较去年8月下降超30个百分点

Group 1 - The core viewpoint of the news is that the STAR Market (科创板) has shown strong performance in 2023, with a notable decrease in the proportion of floating losses for sponsoring institutions [1][2] - As of April 30, 2025, the proportion of floating losses for sponsoring institutions in the STAR Market is 42%, down nearly 3 percentage points from March [2][6] - The number of STAR Market companies with floating profits exceeding 100 million yuan reached 7, accounting for 10% of the total companies with unexpired lock-up periods [1][6] Group 2 - Among the 69 STAR Market companies with unexpired lock-up periods, 29 have floating losses, indicating a significant recovery from a high of 74% in August of the previous year [2][6] - The top 7 STAR Market companies with floating profits over 100 million yuan include Hehe Information, Dameng Data, Huafeng Technology, and others, with notable performance from newly listed stocks [6][7] - The ratio of floating profits to investment amounts for some STAR Market projects exceeds 1, with Huafeng Technology, Pioneer Precision, and Hehe Information leading the rankings [7] Group 3 - Despite the overall market volatility in April, the STAR Market indices, particularly the STAR 100, have shown resilience, with a cumulative increase of 9.2% from January to April [9] - Active equity funds have increased their allocation to the STAR Market for three consecutive quarters, with the allocation ratio rising to 15.18% by the end of Q1 2023 [9][10] - Some leading companies in the STAR Market, such as Cambrian-U, have seen a reduction in holdings by active equity funds, indicating a mixed sentiment among institutional investors [10]