北交所IPO年末冲刺：三日内40家递表、20家开启辅导

Summary of Key Points Core Viewpoint The North Exchange has seen a significant fluctuation in trading volume and value, with new companies entering the market and others undergoing various stages of the IPO process. The overall market activity reflects both challenges and opportunities for investors. Trading Activity - As of January 4, 2026, the North Exchange has 288 listed companies with a total share capital of 39.744 billion shares and a circulating share capital of 25.334 billion shares [2] - For the week of December 29 to December 31, the trading volume was 2.394 billion shares, a decrease of 48.33% from the previous week, while the trading value was 58.316 billion yuan, down 41.65% [3] - The average trading price increased by 12.94% to 24.36 yuan [3] - The North Exchange 50 Index fell by 1.55% to 1440.43 points, with 19 stocks rising and 30 falling [3] New Listings and IPOs - One company, Hengtong Communication Technology Co., Ltd., was listed on December 25, 2025, becoming the 288th company on the North Exchange, with a first-day closing price of 309 yuan, up 277.41% [9] - As of January 4, 2026, there are 167 companies awaiting approval for listing, with 51 accepted, 93 in inquiry, and 11 having passed the listing committee [6] - During the week of December 29 to January 4, four companies received IPO registration approvals, including Tongling Technology and Haiseng Medical [16][22][26][31] Financial Performance of Listed Companies - Hengtong Communication reported revenues of 4.75 billion yuan, 6.13 billion yuan, and 13.15 billion yuan from 2022 to 2024, with net profits of 55.33 million yuan, 64.53 million yuan, and 148 million yuan respectively [13] - Tongling Technology's revenue for the first three quarters of 2025 decreased by 5.47% to 714 million yuan, while net profit increased by 20.87% to 119 million yuan [21] - Haiseng Medical's revenue for the first half of 2025 grew by 22.56% to 156 million yuan, with a net profit increase of 27.11% to 35.49 million yuan [25] Upcoming IPOs and Market Trends - Several companies, including MoSen Tech and Senfeng Laser, have received approval for their IPO applications, indicating a robust pipeline for new listings [47][49] - The market is witnessing a trend of companies focusing on high-tech and innovative sectors, such as automotive components and medical devices, which may attract investor interest [19][24][26]