Investment Rating - The report maintains an "Accumulate" rating for the industry, indicating a positive outlook for the next 6 to 12 months [1]. Core Insights - The North Exchange has shown a strong performance with the North 50 Index increasing by 6.84% to close at 1439.63 points as of June 28, 2025, outperforming other major indices such as the Shanghai Composite and ChiNext [4][12]. - The total market capitalization of the industry reached 846.65 billion yuan, with an average market value of 3.14 billion yuan per listed company [4][12]. - A significant 94% of the 268 listed companies on the North Exchange experienced price increases during the week, with 252 stocks rising and only 16 declining [20]. Summary by Sections North Exchange Market Overview - As of June 28, 2025, the North Exchange comprises 268 constituent stocks, with an average market capitalization of 3.14 billion yuan. The North 50 Index has risen by 6.84%, while the Shanghai Composite, ChiNext, and Sci-Tech 50 indices have seen increases of 1.95%, 5.69%, and 3.17%, respectively [4][12]. - The top five performing sectors in the A-share market this week were Computer, Defense Industry, Non-Bank Financials, Communication, and Electronic Equipment/Nonferrous Metals, with gains of 7.70%, 6.90%, 6.66%, 5.53%, and 5.11%, respectively [18]. New Listings on the North Exchange - Guangxin Technology officially listed on the North Exchange on June 26, 2025, becoming the 268th listed company, and saw a remarkable first-day increase of 500% [6][26]. Key News from the North Exchange - The North 50 Index has accumulated a 38.72% increase year-to-date, leading all major A-share indices, surpassing the Hang Seng Index's 21.06% increase [33]. - A total of 26 stocks have doubled in value this year, primarily driven by technology innovation companies [33]. Investment Strategy for the North Exchange - The report suggests focusing on high-quality development in the North Exchange for 2025, with specific attention to sectors such as Data Centers, Robotics, Semiconductors, Consumer Goods, and Military Information Technology [31].
北交所周报（6.23-6.28）：本周整体表现承压，新股上市首秀亮眼-20250704