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次新市场周报（2024年10月第2周）：次新板块回调，强邦新材打新收益居年内首位
Guotai Junan Securities·2024-10-13 08:23

Investment Rating - The report does not explicitly provide an investment rating for the company or sector discussed Core Insights - In the second week of October, the new stock index and the near-term new stock index fell by 3.09% and 1.94% respectively, following a market-wide correction after significant gains at the end of September [2][3] - The newly listed company, Qiangbang New Materials, saw an average first-day increase of 1424.08%, with A/B class accounts yielding returns of 372,300 and 113,100 respectively, marking the highest returns for A class accounts in 2024 [3][19] - The trading activity in the new stock sector has decreased, with a projected stable number and scale of unlocks in the third week of October [3][11] Summary by Sections New Stock Market Performance - The new stock index and near-term new stock index experienced declines of 3.09% and 1.94% respectively during the second week of October, with the overall market showing a correction after a strong performance in late September [3][5] - The new stock index's deviation from the Shanghai Composite Index fell to 133.38%, while the near-term new stock index's deviation dropped to -17.57% [5][11] Trading Activity - The trading activity in the new stock sector has decreased, with the turnover rate for the new stock index dropping by 5.4974 percentage points and the near-term new stock index by 7.1158 percentage points compared to the previous week [11][12] - The total net active selling in the new stock sector reached 7.26 billion, a significant increase from the previous week [13] Valuation Metrics - As of October 11, the new stock index's PE (TTM) was 52.8X, while the near-term new stock index's PE (TTM) was 40.8X, reflecting a divergence in valuations [8][10] - The latest PB (LF, mainland) for the new stock index and near-term new stock index were 2.9X and 4.5X respectively, with historical percentile levels of 35.0% and 59.7% [10][11] Unlocking Events - In the second week of October, a total of 8 new stocks were unlocked, with a total market value of 2.479 billion, indicating a low unlocking scale [16][17] - The third week of October is expected to see 8 new stocks unlocked, with a projected total market value of 2.557 billion [16][17]