企业成长的背后，是杭州深厚的产业底蕴与战略支持。这座城市为企业提供了产业链配套、技术人 才等先天优势，而在中策橡胶关键转型期，杭州国资的战略入股、产业政策的精准扶持，更为其突破发 展瓶颈注入强劲动力。未来，企业依托现有的品牌、技术、市场、人才等方面的优势，通过增加投资、 技术创新和资源整合，还会进一步扩大其在国内市场和国际市场的份额。 向"新"要发展 新质生产力激活发展动能 6月5日上午，杭企中策橡胶集团股份有限公司（下称"中策橡胶"）在上海证券交易所上市。本次上 市，中策橡胶的发行价为46.50元/股，发行数量为8744.8560万股，预计募资总额约40.66亿元。该股开 盘报57.00元，截至收盘报49.68元，总市值434.44亿元。 这是今年截至目前，A股市场最大规模的IPO项目。这场资本盛宴不仅是企业发展的重要里程碑， 也证明了传统制造业在创新驱动下的无限潜力，展现了杭州这座城市在产业转型中的战略定力与创新智 慧。 67年风雨历程 企业与城市共成长 中策橡胶的发展史，就是一部杭州工业的奋斗史。中策橡胶是国内最早从事轮胎制造的企业之一， 其前身为1958年创建的杭州海潮橡胶厂，经过67年的发展，企业已 ...

Core Viewpoint - The recent IPO of Zhongce Rubber has generated significant interest among investors, with a strong opening price that exceeded the issue price, reflecting the prevailing belief in the resilience of new stocks in the A-share market [1][3]. Group 1: IPO Performance - Zhongce Rubber's opening price was set at 57 yuan, which is 22.58% higher than the issue price of 46.50 yuan [1]. - Despite the initial surge, the stock price fluctuated throughout the day, closing with a gain of only 6.84%, indicating that the opening price was the peak for the day [3]. - Investors who sold at the opening could have realized a profit of 5,250 yuan per 500 shares, which is still considered a satisfactory return given the high issue price [3][5]. Group 2: Investor Behavior - A total of 60.7264 million shares were subscribed by online investors, while 487,500 shares were abandoned, amounting to 22.6722 million yuan in forfeited funds [5]. - The trend of abandoning subscriptions highlights a growing caution among investors, despite the strong belief in the "new stock invincibility" narrative [7]. - The abandonment of shares has led to disappointment among observers and serves as a reminder that perceived easy profits in the stock market can be elusive [7].

Group 1: New Stock Performance - On June 5, two new stocks were listed in the A-share market: Youyou Green Energy and Zhongce Rubber, with Youyou Green Energy's closing price at 151.10 CNY, a 75.64% increase from its issue price of 89.60 CNY, resulting in a profit of 33,885 CNY per lot [1] - Zhongce Rubber's closing price was 49.68 CNY, an 11.57% increase from its issue price of 46.50 CNY, yielding a profit of 2,690 CNY per lot [1] - The performance of these two new stocks was below the average of 43 new stocks listed earlier this year, which saw an average first-day increase of nearly 300% [2] Group 2: Company Profiles - Youyou Green Energy is a leading domestic charging module company, recognized as a core supplier for new energy vehicle charging modules, with partnerships with major firms like ABB and NIO [1] - The projected revenue for Youyou Green Energy from 2022 to 2024 is 9.88 billion CNY, 13.76 billion CNY, and 14.97 billion CNY, with net profits of 1.96 billion CNY, 2.68 billion CNY, and 2.56 billion CNY respectively [1] - Zhongce Rubber is a leading tire manufacturer in China, supplying to well-known automotive brands and ranking among the top ten global tire manufacturers [2] - The projected revenue for Zhongce Rubber from 2022 to 2024 is 318.89 billion CNY, 352.52 billion CNY, and 392.55 billion CNY, with net profits of 12.25 billion CNY, 26.38 billion CNY, and 37.87 billion CNY respectively [2] Group 3: Market Conditions and Challenges - The underperformance of the two new stocks is attributed to three main factors: market competition in their respective industries, high issue prices, and declining profitability forecasts [3] - Youyou Green Energy's net profit for 2024 is expected to decrease by 12 million CNY compared to 2023 [3] - Zhongce Rubber's net profit for the first half of 2025 is projected to decline by 24.79% to 13.38 billion CNY [3]

Core Viewpoint - C Zhongce (603049) experienced a first-day increase of 6.84% with a turnover rate of 61.51%, resulting in a transaction volume of 2.707 billion yuan [2] Group 1: Company Overview - The company specializes in the research, production, and sales of various tire products, including full steel tires, semi-steel tires, and bias tires [3] - On its first trading day, the stock saw a net inflow of 431 million yuan from major funds, with large orders contributing 256 million yuan and extra-large orders contributing 174 million yuan [3] Group 2: Financing and Trading Details - The stock's first-day financing purchase amounted to 154 million yuan, accounting for 5.69% of the total trading volume, with a latest financing balance of 135 million yuan, representing 3.20% of the circulating market value [2][3] - The top five trading departments on the stock's first day had a combined transaction volume of 530 million yuan, with a net sell of 177 million yuan, where five institutional special seats accounted for a net sell of 354 million yuan [3]

Core Points - C Youyou (301590) experienced a significant increase of 68.64% on its first trading day, with a turnover rate of 79.54% and a transaction volume of 1.022 billion yuan [1] - The stock's first-day margin trading saw a buy amount of 54.9874 million yuan, accounting for 5.38% of the total trading volume, with a latest margin balance of 48.6913 million yuan, representing 3.95% of the circulating market value [1] - The company specializes in the research, production, and sales of core components for direct current charging equipment for electric vehicles, with its main products being charging modules of various power levels [1] Fund Flow - On its debut, C Youyou attracted a net inflow of 343 million yuan from major funds, with large orders contributing 167 million yuan and 176 million yuan respectively [1] - The top five trading departments on the stock's first day had a combined transaction volume of 116 million yuan, with a net purchase of 67.0808 million yuan after accounting for sales [1] - One institutional special seat was listed, with a total net sell of 7.7741 million yuan [1]

Group 1 - Zhongce Rubber Group Co., Ltd. officially listed on the Shanghai Stock Exchange on June 5, 2023, with a market value approaching 50 billion yuan, marking the largest IPO in the A-share market this year [2] - The company issued 87.44 million new shares at a price of 46.5 yuan per share, raising approximately 4.06 billion yuan in net funds, which will primarily be used for high-performance tire production projects [2] - Zhongce Rubber has a history dating back to 1958, evolving from producing rubber shoes to becoming a major player in the tire industry, with brands like Chaoyang and others under its umbrella [3] Group 2 - The company sells 200 million tires annually and ranks among the top 10 global tire manufacturers, providing tire products to major automotive manufacturers such as FAW Jiefang, BAIC Foton, and BYD [4] - Zhongce Rubber has established six R&D centers and 12 manufacturing bases globally, with an annual R&D investment exceeding 1.3 billion yuan, and has created an industrial internet platform to enhance production efficiency [4] - The successful listing of Zhongce Rubber reflects the growth of enterprises in Hangzhou, with local initiatives aimed at promoting quality company listings and facilitating a positive cycle between enterprises, capital, and industry [4]

| 名称 | 涨跌幅 | 龙虎榜净买 | 净买额占 | 换手率 | | --- | --- | --- | --- | --- | | | | 额(万元) | 总成交比 | | | 四方精创 | 10.74% | -51253 | 8.52% | 40.25% | | 中科金财 | 3.79% | -23467 | 6.13% | 41.05% | | 中策橡胶 | 6.84% | -17700 | 6.54% | 61.51% | | 菜细通灵 | -9.97% | -11233 | 11.34% | 23.34% | | 锡装股份 | -10% | -7688 | 25.44% | 29.26% | | 润本股份 | -9.82% | -4540 | 13.02% | 8.58% | | 翠微股份 | 10.01% | -4374 | 1.81% | 28.22% | | 合兴股份 | -5.75% | -4362 | 5.67% | 8.2% | | 启迪环境 | -9.5% | -4101 | 6% | 21.21% | | 锦涨集团 | 9.66% | 3944 | 3.44% | 25.59% | ...

Core Viewpoint - The A-share IPO market is undergoing a significant transformation, with a notable decrease in the number of IPO terminations and an increase in the total financing amount, reflecting a shift from "quantity expansion" to "quality priority" in capital markets [2][4][5]. Group 1: IPO Termination Trends - As of June 4, 2025, 64 IPOs have been terminated this year, a decline of over 60% compared to 186 in the same period of 2024, with 58 of these being voluntary withdrawals [4][5]. - Monthly termination data shows a downward trend from January to May 2025, with 27, 14, 10, 5, and 8 terminations respectively [4]. - The reduction in IPO terminations is attributed to structural optimization in the market and regulatory policies, leading to an overall improvement in the quality of remaining IPO candidates [4][5]. Group 2: IPO Financing Growth - In 2025, 45 IPO companies have raised a total of 33.209 billion yuan, marking a year-on-year increase of 15.38% and 20.80% [6]. - The financing amounts from various stock exchanges include 13.555 billion yuan from the Shanghai Main Board, 3.12 billion yuan from the Shenzhen Main Board, 3.681 billion yuan from the Sci-Tech Innovation Board, 11.065 billion yuan from the Growth Enterprise Market, and 1.788 billion yuan from the Beijing Stock Exchange, with respective changes of 28.95%, 6.9%, -55.84%, 26.87%, and -10.87% [6]. - Eight companies raised over 1 billion yuan in their IPOs, with Zhongce Rubber leading at 4.066 billion yuan [6]. Group 3: Regulatory Environment - The new "National Nine Articles" has significantly raised the review standards, leading many companies with inadequate conditions to withdraw their applications voluntarily [5][8]. - The regulatory body has intensified accountability for companies attempting to bypass standards, as seen in recent disciplinary actions against companies like Zhongding Hengsheng and Fanyuan Technology for various compliance issues [9]. - Companies are advised to establish a comprehensive compliance system to adapt to the increasingly stringent IPO regulations and market conditions [9].

Group 1 - The A-share IPO market is gradually recovering, with two new stocks listed on June 5, and significant progress made by previously stalled IPOs [1] - In May, the three major exchanges in China received 16 IPO applications, surpassing the total of the previous four months combined, marking a new monthly high for the year [2] - The current trend in A-share IPOs reflects increased confidence among companies, with a notable acceleration in the review process and a decrease in terminated projects [2][3] Group 2 - As of this year, a total of 28 companies have submitted IPO applications, with the North Exchange receiving the most applications, accounting for over 67% [2] - The average time from application to the first round of inquiries is 18 days for the Shenzhen Main Board and 30 days for the North Exchange, indicating varying efficiency across exchanges [3] - The number of companies under review has decreased significantly, with only 185 companies currently in the pipeline, down nearly 60% from the previous year [3] Group 3 - The increase in IPO applications is attributed to both accelerated review processes and a high termination rate, with 64 companies withdrawing their applications this year [3] - June is traditionally a peak month for IPO applications, as many companies aim to submit materials based on the previous year's financials by the end of June [3] Group 4 - Regulatory bodies are emphasizing support for technology innovation, aiming to enhance the inclusivity and adaptability of the IPO system for high-quality, unprofitable tech companies [4][5] - Among the 28 companies currently under review, 25 are manufacturing firms, with a significant representation from specialized equipment manufacturing [5] Group 5 - The first batch of IPO projects on the ChiNext board this year represents strategic emerging industries, showcasing the integration of technology innovation and industrial development [6] - Notable companies include Sanrui Intelligent, which ranks second globally in the civil drone electric propulsion system market, and Hongming Electronics, which specializes in electronic components for defense applications [6] Group 6 - The North Exchange has seen an improvement in the quality of companies applying for listing, with many demonstrating strong profitability [8][9] - The average revenue for companies applying to the North Exchange in 2024 is projected to exceed 10.13 billion, with 12 companies reporting net profits over 100 million [8] - The increase in quality is attributed to better performance of new companies listed on the New Third Board and enhanced resource allocation by investment banks [9]

Group 1 - Zhongce Rubber Group Co., Ltd. officially listed on the Shanghai Stock Exchange, marking a new development journey for the company [1] - The company has a rich history dating back to 1958 and has become a leading player in the tire manufacturing industry, ranking first in the "2024 China Tire Enterprise Ranking" by the China Rubber Industry Association [3][4] - Zhongce Rubber has a strong brand matrix with well-known brands such as "Chaoyang," "Goodride," and "West Lake," and has been recognized as one of the top ten global tire manufacturers by Tire Business magazine [3][4] Group 2 - The company has shown continuous innovation and growth through technology advancements, structural optimization, smart manufacturing, brand enhancement, and international expansion [4] - Zhongce Rubber's tire products are widely distributed across China and exported to various regions including Europe, North America, Africa, Southeast Asia, and the Middle East, establishing deep partnerships with major automotive manufacturers [7] - The company has demonstrated strong performance with revenue growth from 17.99 billion yuan in 2021 to 39.52 billion yuan in 2024, and net profit increasing from 1.03 billion yuan to 3.79 billion yuan during the same period [7][8] Group 3 - The global tire market sales were approximately 177.5 billion USD in 2021, 186.8 billion USD in 2022, and 192 billion USD in 2023, with Zhongce Rubber's market share fluctuating around 2.54% to 2.58% [8] - The automotive aftermarket in China is projected to grow from 660 billion yuan in 2014 to 1.74 trillion yuan by 2025, with a compound annual growth rate of 9.21% [8] - The company plans to use the funds raised from its IPO for projects that will enhance production capacity and market share, including a green 5G digital factory for high-performance tires [10]