北交所日报-20251231

Core Insights - The North Exchange 50 index experienced a decline of 0.70%, closing at 1,440.43 points on December 31, 2025, with a trading volume of 206.88 billion yuan and a turnover rate of 3.00% [1][2][5] - The overall valuation of companies listed on the North Exchange is approximately 45.86 times earnings, which is higher than the valuations of companies on the ChiNext and Sci-Tech Innovation Board [1][8][9] - The most significant gainers in the North Exchange included companies in the communication sector, with a notable increase of 878.16% for the new stock Hengtong Light [1][6][7] Industry Summary - The North Exchange saw mixed performance across various industries, with the communication sector leading gains at +176.1%, while the oil and petrochemical sector faced the largest decline at -3.6% [1][2][10] - The average price-to-earnings (P/E) ratio for the non-ferrous metals industry was the highest at 111.4 times, followed by food and beverage at 78.6 times and communication at 77.8 times [1][8][9] - The trading activity was notably high for stocks such as Hengtong Light and Tianli Composite, which had significant turnover rates of 53.79% and 39.78%, respectively [1][6][7] Company Performance - Among the top gainers, Hengtong Light (878.16%), Tianming Technology (29.96%), and Lifan Holdings (24.94%) showed remarkable increases in stock prices [1][6] - Conversely, the largest decliners included Guandao Retreat (-21.82%), Dapeng Industry (-12.57%), and Fengguang Precision (-10.52%) [1][7] - The market capitalization of Hengtong Light reached 210.34 billion yuan, with a P/E ratio of 77.47 times, indicating strong investor interest [1][6]