北交所策略专题报告：“920”代码切换迎新机，历史规律与海外科技映射下的节后小盘股机遇

Group 1 - The report highlights the transition to the "920" code era for the Beijing Stock Exchange (BSE), which is expected to enhance market recognition and attract high-quality innovative small and medium enterprises [2][10][17] - Historical data indicates a significant increase in the performance of small-cap stocks after the National Day holiday, with a winning rate of 70%-80% in the first three trading days post-holiday [2][12][13] - The report emphasizes the alignment of the BSE's focus on "specialized, refined, distinctive, and innovative" companies with recent technological advancements and strong performances in overseas markets, particularly in the AI and high-end manufacturing sectors [2][20][21] Group 2 - The BSE's current market performance shows a decline in the BSE 50 index to 1,528.63 points, with a PE TTM of 71.79X, while the specialized and innovative index dropped to 2,617.83 points with a PE TTM of 80.89X [3][31] - The average PE TTM for various sectors on the BSE includes high-end equipment at 42.42X, information technology at 100.12X, and chemical new materials at 47.99X, indicating a diverse valuation landscape [3][36] - The report suggests focusing on sectors such as technology growth, self-sufficiency, anti-involution, and energy storage for future investment opportunities, particularly in companies that represent new productive forces [3][43]