银河证券北交所日报-20260106

Core Insights - The North Exchange 50 index increased by 1.82% to close at 1,493.04 points on January 6, 2026, with a trading volume of 259.89 billion yuan and a turnover rate of 3.97% [3][4][6] - The overall valuation of the North Exchange is at 47.74 times earnings, which is higher than the valuations of the ChiNext and STAR Market [3][10] - The sectors that performed well include non-ferrous metals (+11.1%), home appliances (+4.5%), computers (+4.4%), and machinery (+3.0%), while the pharmaceutical sector saw a decline of 0.5% [3][4] Trading Performance - On January 6, 2026, the North Exchange had a total market capitalization of 903.76 billion yuan, with 396.77 billion shares listed, of which 253.49 billion shares were tradable [3][4] - The average daily trading volume for the previous week was 194.04 billion yuan, indicating a recovery in trading levels on January 6 [3][4] Stock Performance - Among the 287 listed companies, 264 saw an increase in stock prices, while 21 experienced declines. Notable gainers included Hanxin Technology (+29.99%) and Tianli Composite (+29.99%), while Jin Hao Medical saw a significant drop of 14.57% [3][8][9] - The top ten stocks by market performance on January 6 included Hanxin Technology, Tianli Composite, and Beiyikang, with respective market capitalizations of 30.35 billion yuan, 95.63 billion yuan, and 39.80 billion yuan [8][9] Valuation Analysis - The average price-to-earnings (P/E) ratio for companies on the North Exchange is 47.74 times, with the highest sector being non-ferrous metals at 126.1 times, followed by home appliances at 92.8 times and food and beverage at 81.7 times [3][10] - The valuation of the North Exchange continues to be higher than that of the ChiNext, which has a P/E ratio of 44.85 times [3][10] Sector Performance - The non-ferrous metals sector showed the highest increase in stock prices, reflecting strong market interest and potential growth opportunities [3][4] - The pharmaceutical sector, in contrast, faced challenges, as indicated by the decline in stock prices, suggesting potential issues within the industry [3][4][9]