一签赚40万，A股最赚钱新股背后赢家曝光
2 1 Shi Ji Jing Ji Bao Dao·2025-12-20 13:55

Core Insights - The recent IPOs of Muxi Co. and Moer Thread have set new records for the highest floating profits in the A-share market, with Muxi Co. achieving a maximum floating profit of approximately 395,200 yuan per share on its first trading day [1][6][7]. Group 1: IPO Performance - Muxi Co. and Moer Thread have been the most discussed companies in December, with their IPOs creating significant wealth for investors [5]. - Muxi Co. generated a floating profit of 395,200 yuan per share, while Moer Thread achieved a floating profit of 286,900 yuan per share on their respective first trading days [6][7]. Group 2: Underwriter Earnings - Huatai United Securities, the underwriter for Muxi Co., is expected to earn 268 million yuan in underwriting fees and over 652 million yuan in investment floating profits [2][7]. - CITIC Securities, the underwriter for Moer Thread, anticipates earning over 100 million yuan in underwriting fees and more than 828 million yuan in investment floating profits [9]. Group 3: Overall Market Trends - The A-share IPO market has seen a recovery, with 105 companies listed in 2023, raising a total of 120.99 billion yuan, representing an increase of over 80% compared to the previous year [11]. - The total underwriting and advisory fees generated for securities firms from IPOs reached 5.932 billion yuan, marking a growth of over 30% year-on-year [11][13]. Group 4: Competitive Landscape - Leading underwriters such as CITIC Securities, Huatai United Securities, and Guotai Junan have captured a significant share of the underwriting fees, with the top four firms accounting for nearly half of the total industry revenue [14][15]. - The competition among underwriters has shifted from quantity to the ability to price and sell high-value projects, reflecting a trend towards concentration in the industry [15]. Group 5: Strategic Placement and Risks - The strategic placement system in the Sci-Tech Innovation Board requires underwriters to participate in IPOs, with a lock-up period of 24 months, which adds uncertainty to the potential profits [20][24]. - As of December 18, 2023, 16 new stocks on the Sci-Tech Innovation Board have generated over 3 billion yuan in floating profits for underwriters, with CITIC Securities leading with 1.406 billion yuan in floating profits [21][24].