多空博弈拉扯或仍将较为剧烈，适度布局事件或成长催化的局部方向

Group 1 - The new stock market is experiencing a slight recovery, with an average increase of 1.2% for new stocks listed since 2025, and approximately 46.0% of these stocks achieving positive returns [1][12][28] - The upcoming Nvidia GTC conference and expectations for reforms in the ChiNext board are anticipated to boost local trading activity, despite overall market risk appetite being constrained by complex overseas situations [2][12] - The focus remains on sectors with long-term growth potential, such as AI computing, commercial aerospace, and energy exports, while also considering sectors like innovative pharmaceuticals and new consumption for potential rotation based on expected catalysts [3][12] Group 2 - Last week, there were two new stocks available for online subscription, both from the North Exchange, with an average issuance price-earnings ratio of 15.0X and a subscription success rate of 0.0292% [4][23] - The average first-day increase for newly listed stocks on the North Exchange was approximately 92%, indicating a slight decrease in trading enthusiasm compared to the previous week [4][25] - The upcoming week will see two new stocks from the North Exchange ready for listing, with an expected issuance price-earnings ratio of 12.1X, and six new stocks set to open for subscription [7][34][35] Group 3 - The report suggests monitoring specific stocks such as Fengbei Biological, Heyuan Biological-U, Hengkun New Materials, Hanhai Group, and Qiangyi Co., which are expected to show structural highlights despite the overall market's risk aversion [8][41] - For mid-term investments, stocks like Jundingda, Maijia Xincai, Duopule, Hehe Information, Sikan Technology, and Guoke Tianceng are recommended for potential investment opportunities [8][41]