新股周报：11月份科创板新股开板估值上升，首日涨幅高位回落

Investment Rating - The report does not explicitly provide an investment rating for the companies discussed [1]. Core Insights - The new stock market activity has increased, with the first-day gains of new stocks in the dual innovation board decreasing compared to October [1]. - In November, the first-day listing of Jin Tian Titanium Industry on the Sci-Tech Innovation Board saw a surge of 416.90%, with a first-day opening valuation of 101.11 times [1][18]. - The report highlights the performance of various newly listed stocks across different boards, indicating a mixed trend in weekly gains and losses [1][29][31]. Summary by Sections New Stock Market Activity - The new stock market has seen an increase in activity, with 7 stocks (17.95% of newly listed stocks) recording positive weekly gains, up from 16.22% previously [1][15]. - The total number of new stocks listed in 2023 reached 303, raising a total of 384.25 billion yuan [1][15]. Sci-Tech Innovation Board - Jin Tian Titanium Industry's first-day gain was 416.90%, with a high opening valuation of 101.11 times [1][18]. - Da Meng Data recorded a weekly gain of over 10%, while Jin Tian Titanium Industry, Hehe Information, and Yi Nuo Si experienced weekly declines of approximately -5% [1][18]. Growth Enterprise Board - The first-day gain of Yi Lian Technology was 180.86%, with an opening valuation of 50.22 times [1][29]. - Liu Jiu Yi Er recorded a weekly gain of over 20%, while Green Union Technology and Wireless Media saw declines exceeding -10% [1][29]. Main Board - No new stocks were listed on the main board during the week, but An Nai Da and Zhong Xin Shares recorded positive weekly gains [1][31]. - The first-day gain of Jian Er Kang was 452.90%, with an opening valuation of 72.75 times [1][31]. Key Upcoming Stocks - The report lists several key upcoming stocks that have received approval from the China Securities Regulatory Commission, including Huangshan Gujie and Junwei Electronics [1][45]. - Notable stocks that have been issued and are awaiting listing include Lianyun Technology, Jiachih Technology, and Xianfeng Precision [1][50]. Market Valuation Trends - The report notes that the TTM-PE (trailing twelve months price-to-earnings ratio) for newly listed stocks on the Sci-Tech Innovation Board increased to 24.72 times in November, compared to 19.87 times in October [1][22]. - The TTM-PE for the Growth Enterprise Board also saw an increase to 20.35 times in November, up from 15.44 times in October [1][31]. Conclusion - The report indicates a dynamic new stock market environment with varying performance across different boards, highlighting significant first-day gains for some stocks while others faced declines. The overall trend suggests a cautious optimism in the market as new listings continue to emerge [1][15][29].