北交所周报：北证交易持续活跃，并购重组或不断涌现

Core Insights - The North Exchange 50 Index experienced a weekly decline of 1.03%, with 137 out of 259 listed companies showing positive weekly growth. The top gainers included Shengye Electric (+405.92%), Meizhigao (+73.69%), and Zhejiang Dano (+69.57%), while the largest decline was seen in Painuo Technology (-18.08%) [2][17]. - The overall trading activity on the North Exchange remains high, with an average daily trading volume of approximately 32.82 billion yuan, down from 40.53 billion yuan the previous week. The total trading volume for the week was 164.08 billion yuan, with a turnover rate of 58.10%, significantly higher than that of the Sci-Tech Innovation Board and other major boards [2][10][12]. - The North Exchange's overall price-to-earnings (P/E) ratio is around 43.3 times, which has increased compared to the previous week. The media industry has the highest average P/E ratio at 2222.1 times, followed by light industry manufacturing (262.8 times) and basic chemicals (202.9 times) [3][36]. Company Activities - Wuxin Tunnel Equipment announced plans to issue shares to acquire 100% of Wuxin Heavy Industry and Xiongzhong Technology, marking the first project initiated under the new merger and acquisition policies. This move is expected to enhance the activity level of mergers and acquisitions on the North Exchange [2][66]. - Important announcements from North Exchange companies this week included external investments, guarantees, credit applications, project delays, and equity incentives. Companies such as Yishi Precision, Gebijia, and Biyang Technology engaged in external investments, while others like Yujin Co. and Guohang Ocean applied for credit [4][41]. Investment Strategy - The North Exchange is characterized by high trading activity and investor interest. The report suggests focusing on four main investment directions for Q4 2024: 1) Companies with high growth rates and strong R&D investment; 2) State-owned enterprises with high return on equity and low operational risks; 3) Companies benefiting from capacity release and external acquisitions; 4) Companies with high dividend yields [5][39].