Market Performance - The new stock index and the near-term new stock index fell by 1.38% and 3.62% respectively in the fourth week of May 2025[5] - Nearly 90% of the near-term new stock index constituents declined, with some stocks like Taili Technology and Honggong Technology dropping over 10%[5] - The overall average increase of 46 newly listed stocks was -2.27%, indicating a continued decline in the new stock sector[46] New Stock Issuance - New stock issuance included 5,989,000 shares from Xinhenghui (301678.SZ) and 2,500,000 shares from Huazhijie (603400.SH)[1] - The average first-day increase for the newly listed stock Guxi Rongcai was 170.76%, a recovery compared to the previous two weeks' average of around 100%[39] Trading Activity - The trading activity in the new stock sector continued to decline, with turnover rates for the new stock index and near-term new stock index decreasing by 1.08 percentage points and 3.30 percentage points respectively[18] - The net active selling in the new stock sector reached 3.045 billion yuan, an increase of 6.92 billion yuan from the previous week[24] Valuation Metrics - The price-to-earnings (PE) ratio for the new stock index increased by 0.62 to 51.7X, while the near-term new stock index PE decreased by 0.05 to 33.5X[13] - The price-to-book (PB) ratio for the new stock index was 3.9X, corresponding to a historical percentile of 68.2%[17]
次新市场周报（2025年5月第4周）：次新交易持续降温，新股首日涨幅回暖-20250604