北交所策略周报：结构性行情占主导，再解北证beta和“跷跷板效应”-20250831

Group 1 - The report indicates that the North Exchange 50 Index decreased by 1.63% this week, with a trading volume of 6.655 billion shares, representing a 17.89% decrease week-on-week. The total trading amount was 164.497 billion yuan, down 21.11% from the previous week [2][19][24]. - The report highlights a structural market trend where growth sectors such as computing power and solid-state batteries are outperforming, despite the overall weakness of the North Exchange beta. Notable performers include Rongyi Precision (+64.38%) and Gebijia (+16.22%) [11][12][37]. - The report suggests that the structural market conditions will favor institutional investors, allowing them to widen the investment return gap, which is expected to dominate the North Exchange in the second half of the year [12][13]. Group 2 - The report notes that there was one new stock listing this week, Balanshi, which saw a first-day price increase of 205.13% and a turnover rate of 80.09%. As of August 29, 2025, there are 274 companies listed on the North Exchange [31][32]. - The report provides insights into the performance of individual stocks, with 63 stocks rising and 208 falling, resulting in a rise-fall ratio of 0.30. The top gainers were Rongyi Precision and Jiezong Technology, while the biggest losers included Jinsai Technology and Hanxin Technology [37][38]. - The report mentions that the North Exchange's PE (TTM) average is 97.42 times, with a median of 50.31 times, indicating a decline in valuation metrics compared to previous periods [23][30]. Group 3 - The report discusses the dynamics of the New Third Board, noting that six companies were newly listed and six were delisted this week, with a planned financing amount of 0.21 billion yuan and completed financing of 0.90 billion yuan [47][49]. - The report highlights the importance of understanding the recent performance of the North Exchange in the context of the overall market dynamics, particularly the impact of institutional investment strategies and sector rotations [12][13].