超8600亿元，哄抢北交所新股！

Core Viewpoint - The influx of capital into the Beijing Stock Exchange (北交所) for new stock subscriptions has significantly increased, driven by industrial capital and various companies utilizing idle funds for investment opportunities [1][6]. Group 1: Industrial Capital Participation - Companies like LeEco (乐视网), Diens (帝恩思), and others have announced plans to use idle funds for subscribing to new stocks on the Beijing Stock Exchange, indicating a strategic shift towards maximizing investment returns [1][2]. - LeEco plans to invest at least 150 million yuan in new stock subscriptions and reverse repos, while Diens intends to use up to 12 million yuan for similar purposes [1][2]. - Other companies, such as Jufeng (聚丰股份) and Huachuang (华创合成), have also committed significant amounts of idle funds for new stock subscriptions, with Jufeng planning to invest up to 40 million yuan and Huachuang up to 80 million yuan [2]. Group 2: Characteristics of New Stock Subscriptions - The unique characteristics of the Beijing Stock Exchange's new stock subscription process, which allows cash-only applications without requiring a stock collateral, have attracted more investors [3][5]. - The allocation of new stocks is based on a proportional distribution rather than a lottery system, making it easier for investors to secure shares by applying with larger amounts of capital [3][5]. - This has led to the emergence of dedicated groups of investors who consistently participate in new stock subscriptions, viewing it as a low-risk investment strategy [3][4]. Group 3: Market Trends and Data - The average subscription amount for new stocks on the Beijing Stock Exchange has surged from 267 billion yuan in 2022 to 6.5 trillion yuan in 2025, with peak subscription amounts exceeding 8.6 trillion yuan [6][7]. - In 2023, 77 new stocks were listed with an average subscription amount of 369 billion yuan, while 2024 saw 23 new stocks with an average of 2.1 trillion yuan [7]. - The largest single new stock subscription occurred with Nant Technology, attracting 867.6 billion yuan, marking the highest participation in the exchange's history [6].