北交所周观察第三十一期：2025年北交所打新火爆申购资金均值近5000亿，单周受理10家企业IPO

Group 1 - The core viewpoint of the report indicates that the IPO market on the Beijing Stock Exchange (BSE) is experiencing a significant surge, with subscription funds exceeding 500 billion and the number of subscription accounts reaching a historical high of 517,000 [1][4][6] - The report highlights that on June 20, 2025, Guangxin Technology completed its issuance, with 82,500 accounts participating in the online subscription, resulting in a total frozen capital of over 55 billion yuan [1][4][5] - The average frozen capital for online offerings in May 2025 was close to 500 billion yuan, with an average subscription account number exceeding 460,000 and an average winning rate of 0.06% [1][4][6] Group 2 - The BSE 50 index has been in a correction phase for one month, with a weekly decline of 2.55%, and the average daily trading volume has decreased to 28.8 billion yuan [1][6][10] - The report suggests that institutional investors in the BSE market should adopt a cautious approach and look for entry points during deeper corrections, while also focusing on companies expected to exceed Q2 performance expectations [1][6][10] - The report maintains an optimistic outlook for the overall market throughout the year, emphasizing the alignment of the BSE's focus on specialized and innovative companies with national policies promoting self-sufficiency and innovation-driven development [1][6][10] Group 3 - The overall price-to-earnings (PE) ratio for BSE A-shares has decreased to 48X, with the average daily trading volume for the week at 28.8 billion yuan [1][9][12] - The report notes that the PE ratios for the Sci-Tech Innovation Board and the Growth Enterprise Market have also declined, indicating a broader market trend [1][9][12] - The BSE 50 index reported a value of 1,347.46 points, reflecting a weekly decline of 2.55%, while other major indices such as the CSI 300 and the ChiNext also experienced declines [1][10][12] Group 4 - In the week of June 16 to June 20, 2025, three companies passed the review process, and ten companies are currently under review for IPO applications [1][24][25] - The report indicates that the BSE's IPO issuance is in a normalized process, with a focus on maintaining a steady flow of new listings [1][24][25] - The report provides a detailed update on the status of various companies in the IPO pipeline, including those that have passed the review and those that are under inquiry [1][24][25]