Investment Rating - The report indicates a cautious outlook on the industry, suggesting a focus on structural opportunities despite recent adjustments in the new energy sector [4]. Core Insights - The market is experiencing a significant structural divergence, with new stocks and specialized sectors showing resilience, while traditional sectors like new energy are under pressure [4]. - The North Exchange is positioned as a key platform for innovative small and medium enterprises, benefiting from ongoing policy support and regional industrial advantages [4]. - Short-term index adjustments are primarily driven by heavyweight sectors, but long-term prospects remain positive for niche leaders with technological barriers [4]. Summary by Sections Market Review - On November 18, the North Exchange A-share trading volume reached 201.0 billion, an increase of 4.2 billion from the previous trading day, with the North 50 Index closing at 1481.82, down 2.92% [2][9]. - Among 283 companies listed, 31 saw gains, 4 remained flat, and 248 experienced declines, with the top gainers being Beikang Detection (295.5%), Meideng Technology (22.8%), and others [2][18]. - The top decliners included Lingge Technology (-9.8%), Luqiao Information (-9.5%), and others [2][19]. Important News - Arm and NVIDIA are collaborating to promote NVLink, aiming to establish industry standards for AI chip interconnectivity [3][20]. - Huawei is set to unveil the Mate 80 series and the new Kirin 9030 chip on November 25 [3][21]. Key Company Announcements - Hanxin Technology received a patent for a digital twin-based optimization method [3][22]. - Ruihua Technology also announced a patent for a dehydration reaction method in BDO refining [3][24].
北交所市场点评：受新能源调整影响，缩量回调，关注冰点反弹机会