“马字辈”新股，来了

Group 1: New Stock Offerings - Two new stocks will be available for subscription on January 6, 2026, marking the first new stock offerings of the year in the A-share market [1] - The two stocks are Kema Materials (subscription code: 920086) with an issue price of 11.66 CNY per share and a price-to-earnings ratio of 14.2, and Zhixin Co., which has an undisclosed issue price [2] Group 2: Kema Materials - Kema Materials is recognized as a "little giant" enterprise in the automotive friction materials sector, focusing on the research, production, and sales of dry and wet friction materials [2] - The company has over 20 years of experience in the transmission friction materials industry, serving major clients such as ZF, FAW, Dongfeng, and Volvo [2] - Financial projections for Kema Materials indicate revenues of 202 million CNY in 2022, 199 million CNY in 2023, and 249 million CNY in 2024, with net profits of 42 million CNY, 50 million CNY, and 72 million CNY respectively [3] - The management forecasts a revenue growth of 0.39% to 12.44% in 2025, with net profit expected to increase by 14.63% to 34.21% [3] Group 3: Zhixin Co. - Zhixin Co. is a core supplier of automotive welding components, planning to issue 56.67 million shares with a maximum subscription limit of 18,000 shares for individual investors [4] - The company specializes in the development, processing, production, and sales of automotive welding parts, supported by 14 production bases across major automotive industry clusters [4] - Zhixin Co. has reported revenues of 2.09 billion CNY in 2022, 2.56 billion CNY in 2023, and 3.09 billion CNY in 2024, with net profits of 71 million CNY, 132 million CNY, and 204 million CNY respectively [4] - The management anticipates a revenue growth of 26.30% to 31.16% in 2025, with net profit expected to rise by 25.02% to 29.92% [4] Group 4: Market Performance of New Stocks - In 2025, a total of 116 new companies are expected to be listed on the A-share market, with all achieving gains on their first trading day, averaging a rise of 259.33% [4] - Notably, 35 new stocks experienced first-day gains exceeding 300%, with Dapeng Industrial recording the highest increase of 1211.11% on its debut [5] - Nine new stocks had a first-day single share profit exceeding 50,000 CNY, with two stocks, Muxi Co. and Moer Thread, achieving profits of 360,621 CNY and 243,108 CNY respectively [6]