北交所策略专题报告：2025H1北交所公募配置金额数量双创新高，主题基金平均收益率51.72%，机构化进程加速

Group 1 - In the first half of 2025, the number of public funds heavily invested in North Exchange companies reached a record high of 39 [10][11] - The total amount of public fund investments in North Exchange companies in the first half of 2025 reached 9.892 billion yuan, with a heavy investment ratio of 0.17% [11][12] - The average return of 11 theme funds in the North Exchange was 51.72% as of July 25, 2025, with all funds achieving positive returns [18][21] Group 2 - The top ten companies by market value held by public funds in the North Exchange include Jinbo Biological, Tongli Co., Naconoer, Better Ray, and others [22][23] - The top ten companies with increased holdings by public funds include Tongli Co., Naconoer, and Better Ray, indicating a trend of increasing investment in these firms [25][26] - The top ten companies with reduced holdings include Audiwei, Lusi Co., and Wuxin Tunnel, reflecting a shift in investment strategy [27][28] Group 3 - The North Exchange 50 Index reported a weekly increase of 2.85%, reaching 1458.98 points, with a PE TTM of 68.42X [33][35] - The overall PE of North Exchange A-shares increased from 50.83X to 52.17X, indicating a rising valuation trend [30][32] - The daily average trading volume of North Exchange A-shares reached 31.082 billion yuan, up 42.03% from the previous week [32][34]