—次新市场周报（2025年12月第4周）：商业火箭企业IPO指引发布，当周上市健信超导涨幅亮眼-20251230

Group 1: IPO Guidelines and Market Trends - The Shanghai Stock Exchange released IPO guidelines for commercial rocket companies on December 26, 2025, enhancing the adaptability and inclusiveness of the listing standards[6] - Eight commercial aerospace companies have filed for IPO guidance, with Blue Arrow Aerospace expected to be the first to list after passing recent evaluations[9] - The overall market showed strong upward movement in the fourth week of December, with the ChiNext Index and the Sci-Tech 50 Index rising by 3.90% and 2.85%, respectively[11] Group 2: New Stock Performance - Four new stocks listed during the week, with an average first-day increase of approximately 200%, including gains of 255.09% for Jianxin Superconductor and 231.48% for Nabai Chuan[4] - A/B class investors earned returns of 30.35 and 28.27 thousand yuan per account from these new stocks, translating to a yield increase of 0.61‰ and 0.57‰ for a 500 million yuan account size[4] - The new stock index experienced a slight decline of 0.02%, while the near-term new stock index rose by 0.22%[11] Group 3: Market Dynamics and Risks - The new stock market showed signs of a slight pullback, with an average decline of 0.79% across 37 new stocks, indicating mixed performance[4] - There is a risk of reduced subscription rates for new stock purchases and compliance risks related to internal systems for offline investors[4] - The net active selling in the new stock sector amounted to 59.21 billion yuan, a decrease of 7.63 billion yuan from the previous week, with institutional investors contributing to this reduction[28]