Group 1 - The core viewpoint of the report highlights the significant increase in market sentiment, with the North Exchange 50 index rising by 2.79% and trading volume increasing by 40.57% week-on-week. The proportion of strong stocks has rebounded from below 10% to 15.1% [10][13][24] - The report emphasizes the anticipated "market value allocation" policy, which is expected to alleviate the pressure of "frozen funds" and potentially boost low-volatility, low-valuation stocks. The necessity for this policy is increasing as the amount of frozen funds approaches one trillion [12][10] - The report suggests that the introduction of the North Exchange 50 ETF and the resumption of offline inquiries will have a more significant impact than the market value allocation itself. This is crucial for attracting technology companies and enhancing institutional investors' pricing power [12][10] Group 2 - The North Exchange saw 204 stocks rise and 79 fall, resulting in a rise-to-fall ratio of 2.58. The top gainers included Tianli Composite and Dapeng Industrial, while the biggest losers were Guangdao Tui and Hongxi Technology [34][36] - The average PE (TTM) for the North Exchange is reported at 84.41 times, with a median of 40.73 times, indicating a competitive valuation landscape compared to other exchanges [24][13] - The trading volume for the North Exchange reached 4.28 billion shares, with a total trading value of 97.53 billion yuan, reflecting a significant increase in market activity [24][13] Group 3 - This week, three new stocks, including Yuelong Technology, Yuanli Digital, and Meiya Technology, passed the review process, while no new stocks were listed on the North Exchange [26][30] - The report notes that the North Exchange currently has 286 companies listed for trading, indicating a stable growth in the number of listed entities [26][30] - The upcoming week is expected to see one stock available for subscription and two stocks scheduled for review, maintaining a steady flow of new investment opportunities [31][30] Group 4 - The report indicates that the new three-board market saw six new listings and eight delistings, with a total of 5,991 companies currently listed. The week’s financing activities included a planned fundraising of 0.84 billion yuan and completed financing of 1.31 billion yuan [44][46] - The report highlights that there were no companies planning to raise over 1 billion yuan this week, reflecting a cautious approach in the new three-board market [46][49]
北交所策略周报：市值配售改革受关注，原力数字等三新股过会-20251214