北交所定期报告：两会聚焦未来产业与标准建设，重视北交所“硬科技”属性

Market Overview - The Shanghai Composite Index decreased by 0.44%, while the North Exchange A-share Index fell by 3.95%, underperforming the Shanghai Composite by 3.52 percentage points[12] - The North Exchange 50 Index dropped by 6.57%, lagging behind the Shanghai Composite by 6.13 percentage points[12] - The average daily trading volume for North Exchange A-shares was 236.87 billion CNY, up 31.9% compared to the previous period[14] Liquidity and Valuation - The total trading volume for North Exchange A-shares was 1184.36 billion CNY, with the North Exchange 50 accounting for 30.29% of this total[14] - As of March 6, 2026, the median price-to-earnings (PE) ratio for North Exchange A-shares was 45.03X, compared to 37.34X for the Sci-Tech Innovation Board and 37.39X for the ChiNext Board[14] Individual Stock Performance - As of March 6, 2026, there were 297 companies listed on the North Exchange, with notable gainers including Teris, Keli Co., and Changjiang Energy Technology[18] - The top two newly listed companies this week, Tongling Technology and Haifiman, saw first-day gains of 41.42% and 170.42%, respectively[20] Industry Dynamics - The government work report emphasized the development of emerging industries such as aerospace, artificial intelligence, and quantum technology, marking a significant policy shift[3] - The Ministry of Industry and Information Technology announced plans to promote AI and manufacturing integration, targeting advancements in AI products and technologies[3] Investment Recommendations - Investors are advised to focus on companies with core technological advantages and stable performance, particularly in robotics, new energy, and commercial aerospace sectors[8] - The North Exchange is expected to attract more capital as its index system improves, making it a favorable environment for investment in fundamentally sound companies[8] Risk Factors - Potential risks include lower-than-expected market demand, intensified industry competition, geopolitical risks, and delays in policy implementation and R&D progress[9]