北交所周报：2023年报陆续发布，“龙年第二股”热度高中签难

Summary of Key Points Core Viewpoint - The overall market performance is strong, with the North Exchange showing resilience and recovery, as evidenced by 193 stocks rising and the North Exchange 50 Index increasing by approximately 2.7% compared to the opening on Monday, outperforming the market by about 2.0 percentage points [1][2]. Company Performance - Kangpu Chemical reported a record high in 2023, with operating revenue increasing by 26.22% year-on-year and net profit rising by 43.97% [1][3][64]. - The second new stock of the Year of the Dragon, Gebijia, has implemented a public offering with an issue price of 10 yuan per share, corresponding to a PE of 11X, resulting in a total market value of approximately 1.38 billion yuan post-listing [1][39]. - The company Jin Dayu from the New Third Board is expected to apply for listing on the North Exchange soon, following the rapid release of its 2023 annual review report [1][3]. Market Dynamics - The North Exchange's total market capitalization reached 380.95 billion yuan, with a weekly trading volume of 34.23 billion yuan and an average weekly trading amount of 1.4 million yuan, indicating a slight decline in liquidity compared to the previous week [2][27][30]. - The North Exchange's PE (TTM, median) is 22.1 times, which has increased by 0.7 times compared to the previous week [27][36]. Industry Insights - The environmental protection industry performed relatively well, with a median increase of 9.1% in the industry, while the non-ferrous metals sector showed a median decrease of -2.6% [45][46]. - The transportation industry has a median PE (TTM) of 125.4 times, reflecting a 4.6 times increase from the previous week, indicating a significant valuation shift [45][46]. Investment Recommendations - It is suggested to seize the opportunity for sector allocation, focusing on high-growth, undervalued stocks, leading companies in niche markets with valuation advantages, and quality, low-priced new stocks [1].