新股周报：新股首日涨幅维持高位，二级市场空间仍受压缩
Shanxi Securities·2024-10-29 06:23

Investment Rating - The report does not explicitly provide an investment rating for the companies discussed. Core Insights - The new stock market activity has decreased, with the first-day gains of new stocks on the ChiNext board rising compared to September. The overall market has seen a decline in activity, with only 54.29% of newly listed stocks showing positive gains in the past week, down from 81.25% [1][7]. Summary by Sections 1. New Stock Market Activity - In October, the ChiNext board saw significant first-day gains, with new stocks like New Aluminum Era, Suzhou Tianmai, and 6912 all exceeding 800% on their debut. Their opening valuations were 64.36, 119.62, and 184.11 times earnings, respectively [1][11]. - The STAR Market had no new listings in October, but stocks like Hehe Information and Longtu Light Mask recorded weekly gains of over 5% [1][8]. - The main board saw the listing of Qiangbang New Materials, with a first-day gain of 800%, while other stocks like Yongzhen and Ananda also performed well [1][12]. 2. Key New Stocks List - The report highlights several key new stocks that have been listed since January 2023, including Kema Technology (ceramic heaters), Longtu Light Mask (semiconductor masks), and others. These companies are noted for their strong growth potential [2][24]. 3. Valuation Trends - The report indicates that the first-day price-to-earnings (P/E) ratio for new stocks on the STAR Market in October was 19.87 times, up from 18.55 times in September. The ChiNext board's first-day P/E ratio rose to 15.44 times, compared to 13.95 times in September [1][9][11]. - The main board's first-day P/E ratio was 14.59 times in October, slightly down from 14.70 times in September, indicating a mixed valuation trend across different boards [1][13]. 4. Future Coverage - The report lists several companies that have received approval from the China Securities Regulatory Commission (CSRC) and are expected to perform well, including Xingfu Electronics and Sikan Technology, among others [2][21].