新股周报：新股市场活跃度下降，11月份科创板发行PE较10月明显提升

Investment Rating - The report does not explicitly provide an investment rating for the companies discussed [1]. Core Insights - The new stock market activity has decreased, with the issuance price-to-earnings (PE) ratio for the dual innovation board increasing in November compared to October [1][14]. - In November, there were no new stocks listed on the Sci-Tech Innovation Board or the Growth Enterprise Market, while the main board saw the listing of Jian Er Kang [1][28]. - The report highlights a significant drop in the number of stocks with positive weekly returns, with only 6 out of 37 stocks (16.22%) showing positive growth, down from 87.18% in the previous period [1][14]. Summary by Sections New Stock Market Activity - The new stock market has seen a decline in activity, with 301 new stocks listed since the beginning of 2023, raising a total of 382.39 billion yuan [1][14]. - The issuance PE for the Sci-Tech Innovation Board in November was 95.70 times, up from 19.87 times in October, indicating a rising valuation trend [20]. - The Growth Enterprise Market's issuance PE increased to 19.06 times in November from 15.44 times in October, while the main board's issuance PE decreased to 10.62 times from 14.59 times [24][32]. Key Newly Listed Stocks - Notable newly listed stocks include Longtu Guangzhao (semiconductor mask), Kema Technology (ceramic heater), and Jian Er Kang (medical consumables) [59]. - The report emphasizes the importance of monitoring stocks like Lianyun Technology and Jiachih Technology, which are awaiting listing approval [44][52]. Upcoming IPOs - Lianyun Technology plans to raise 1.612 billion yuan, with projected revenues for 2024 between 1.11 billion and 1.21 billion yuan, reflecting a growth of 7.38% to 17.05% [45]. - Jiachih Technology aims to raise 1.332 billion yuan, with expected revenues for 2024 between 1.02 billion and 1.15 billion yuan, indicating a growth of 3.99% to 17.25% [52]. Market Trends - The report notes that the Wind near-term new stock index valuation has increased compared to the Growth Enterprise Market, indicating a premium status [36]. - The report also highlights the competitive landscape in the SSD controller chip market, where Lianyun Technology ranks second globally with a market share of 22% [50]. Industry Insights - The demand for data storage chips is expected to grow significantly, driven by the expansion of the PC, server, and mobile phone markets, as well as advancements in 5G and AI technologies [47]. - The report discusses the increasing importance of stealth materials in military applications, with a projected growth in the market for electromagnetic compatibility materials due to their applications in consumer electronics and automotive sectors [56].