Group 1 - The new stock market is experiencing a slight increase in volatility before the holiday, with short-term new stock sectors likely to continue a trend of oscillation and differentiation [1][11] - The average increase of new stocks listed since 2024 is approximately -0.8%, with about 28.5% of new stocks showing positive returns [1][27] - The upcoming National Day holiday is expected to heighten external uncertainty, impacting market sentiment and pricing indicators, which are currently at relatively high historical levels [2][11] Group 2 - Recent new stock issuance has seen an average price-to-earnings ratio of 14.2X, with a low average subscription success rate of 0.0216% [4][21] - The first-day average increase for newly listed stocks was about 207%, indicating stable trading sentiment, while the average increase for the first week was 178.3% [24][25] - The sectors showing the most significant gains include semiconductor equipment and AI application themes, while those with the largest declines are primarily stocks that had previously shown high activity but have recently lost momentum [27][29] Group 3 - Upcoming new stocks include companies like Ruili Kemi and Yunhan Xincheng, with average issuance price-to-earnings ratios for new stocks expected to be around 19.9X [3][31] - The report suggests focusing on sectors with relative value, particularly in new energy, consumption, and non-ferrous metals, as well as long-term themes like robotics and innovative pharmaceuticals [2][11] - The report emphasizes the importance of flexibility in investment strategies due to the anticipated market volatility surrounding the holiday [38]
小长假前波动略有加剧，短周期新股板块或延续震荡分化走势