Core Viewpoint - The article discusses the upcoming IPOs of three companies in the A-share market, highlighting their business models, market positions, and financial projections. Group 1: Hanbang Technology - Hanbang Technology is a leading supplier of chromatography separation and purification equipment in China, particularly in the production-grade small molecule drug separation market [2][3] - The company has a diverse product matrix, including small and large molecule drug separation equipment, and has established a strong customer base with over 2,000 clients, including major pharmaceutical companies [4] - Financial projections indicate revenues of 482 million yuan, 619 million yuan, and 691 million yuan for 2022, 2023, and 2024 respectively, with net profits of 39 million yuan, 51 million yuan, and 79 million yuan [4] Group 2: Weigao Blood Purification - Weigao Blood Purification focuses on the research, production, and sales of medical products for blood purification, with a comprehensive product line including hemodialysis devices and peritoneal dialysis solutions [6][7] - The company holds significant market shares in various segments, including 32.5% in hemodialysis devices and 31.8% in hemodialysis tubing, ranking first in the industry [6][7] - Revenue projections for Weigao indicate 3.426 billion yuan, 3.532 billion yuan, and 3.604 billion yuan for 2022, 2023, and 2024 respectively, with net profits of 315 million yuan, 442 million yuan, and 449 million yuan [7] Group 3: Taili Technology - Taili Technology specializes in new materials and vacuum technology applications, being the exclusive supplier of aerospace vacuum compression bags in China [8][9] - The company has implemented a multi-channel sales strategy, transitioning to a primarily online sales model while maintaining partnerships with major retailers globally [9] - Financial forecasts show revenues of 638 million yuan, 835 million yuan, and 1.02 billion yuan for 2022, 2023, and 2024 respectively, with net profits of 59 million yuan, 85 million yuan, and 88 million yuan [10]

朋友们，今天可真是见证了股市的奇迹。某家新股——强邦新材，上市的第一天竟然暴涨了整整24倍！这股市里的意外惊喜，仿佛一颗重磅炸弹，狠狠地撼 动了我们的心脏。咱们都知道，申购新股如果能中签，简直是像一夜之间变富一样，财富的涨幅让人目瞪口呆。比如说，这次强邦新材的中签，500股就能 赚到接近11万元，真是让人眼红得不行！ 不过，朋友们，想要轻松坐享其成，光靠一双手指头点击几下可不行，打新股也得有点技巧才行。今天，我们就来深度探讨一下如何提高新股申购的中签 率，让你也能在股市的红利中分一杯羹。 首先，要知道，新股申购其实是一个很简单的过程，简单到就像填写一张申请表，但实际操作起来，得有些规矩。A股市场上有个不成文的"铁律"，那就是 一旦你能够中签新股，基本上就能赚到一笔不小的财富。这是因为新股在刚上市时，由于供给稀缺，加之市场的疯狂炒作，股价往往会有一段时间的疯涨。 于是，打新股便成了许多投资者的首选，谁不想轻松赚到这笔钱呢？ 开通这些权限并不复杂，通常在券商的APP上操作几下就可以完成。只不过，在开通之前，你需要满足一定的条件，比如资金量、交易经验等，做好这些准 备，才能更好地提升你的申购机会。 第三招：参与网下 ...

就在高价新股天有为即将敲响上市钟声的前夜，那些幸运中签并决定缴款的股民们心中想必充满了激动与期待。这只股票的发行价高达93.50元，这是今年 新股发行的新高点。之前，不少新股在首日上市时都曾创下惊人的涨幅，仿佛每一次打新都是财富增长的捷径。然而，天有为的到来带来了前所未有的考验 ——它那令人高仰的高价标签，在市场中的表现依旧是个未知数。 对于这些投资者来说，面对如此高的发行价，心中既有对未来的憧憬，也有着难以避免的担忧。毕竟，在股市这个变幻莫测的战场上，过去的经验虽能提供 一些指引，却无法保证未来的结果。特别是当涉及到像天有为这样价格达到历史新高的新股时，其上市后的表现将是对市场承受能力的一次大考。 随着天有为开盘钟声的敲响，那令人揪心的担忧和无尽的忧虑瞬间随风飘散。天有为以140元的高价开盘，较之93.50元的发行价高开了49.73%，这一表现无 疑给所有中签并选择缴款的股民们送上了一份惊喜大礼。假设这些幸运儿在开盘时果断卖出，那么他们的打新收益将达23250元，超过2万元的新股利润，在 任何投资者眼中都应该是一笔相当不错的收入吧？ 对于那些参与了此次打新的股民来说，这不仅仅是数字上的胜利，更是一次心灵上的 ...

Core Viewpoint - The article highlights the continued success of new stock subscriptions in the current volatile global environment, providing investors with a seemingly risk-free opportunity to profit from new listings [2][5]. Group 1: New Stock Performance - Three new stocks listed recently achieved impressive gains, with all showing increases of over 230%, and an average profit of over 15,000 yuan per subscription [5][9]. - China Ruilin, listed on April 8, had an initial price of 20.52 yuan per share, closing at 99.90 yuan on the first day, resulting in a first-day gain of 237.07% and a potential profit of 24,325 yuan per subscription [5][6]. - The highest intraday price for China Ruilin reached 165 yuan, allowing for a maximum profit of 72,200 yuan if sold at that peak [6]. Group 2: Upcoming New Stocks - Three companies are set to go public from April 14 to April 18, with investors anticipating potential gains [3]. - Tianyouwei, a company focused on automotive instrument development, will open for subscription on April 14, with a high customer concentration, particularly with Hyundai [12][13]. - The company has maintained a gross profit margin above 30% over the past three years, significantly higher than industry peers [14]. Group 3: Financial Performance of Companies - Tianyouwei's projected revenues for 2022 to 2024 are approximately 1.972 billion yuan, 3.437 billion yuan, and 4.465 billion yuan, with year-on-year growth rates of 68.93%, 74.27%, and 29.90% respectively [16]. - Another automotive parts company, Zhongjie Automotive, will open for subscription on April 15, with a high percentage of overseas sales [19]. - Zhongjie Automotive's revenue growth from 2022 to 2024 is expected to be 20.20%, 15.25%, and 19.00%, with net profits growing at 60.25%, 5.35%, and 15.45% respectively [22]. Group 4: Challenges and Concerns - Jiangshun Technology, set to list on April 15, has faced scrutiny regarding its financial practices, including high dividend payouts while maintaining a high debt ratio [25][26]. - The company has reported gross profit margins of 38.63%, 38.99%, and 39.09% from 2022 to 2024, but has indicated risks associated with sustaining these margins [26].

一、证券市场回顾 南财金融终端数据显示，上周(4月7日-4月11日,下同)，上证综指周内下跌3.11%，收于3238.23点，最高 3249.85点；深证成指周内下跌5.13%，收于9834.44点，最高9909.56点；创业板指周内下跌6.73%，收于 1926.37点，最高1944.1点。在全球市场中，主要指数有涨有跌。纳斯达克综指上涨7.29%，道琼斯工业 指数上涨4.95%，标普500上涨5.7%。亚太地区，恒生指数下跌8.47%，日经225指数下跌0.58%。 二、新股申购情况 上周有2只新股发行,详情见下表： | | | 申购日期 | | --- | --- | --- | | 301662.SZ | 宏工科技 | 20250408 | | 603120.SH | 肯特催化 | 20250407 | 三、融资融券情况 沪深两市的融资融券余额为18040.95亿元，其中融资余额17930.83亿元，融券余额110.13亿元。两市融 资融券余额较前一周减少935.89亿元。分市场来看，沪市两融余额为9257.79亿元，相较前一周减少 405.59亿元；深市两融余额8783.16亿元，相较前一周减少53 ...

Summary of New IPOs in A-Share Market - This week, three new stocks will be available for subscription in the A-share market, including Tianyouwei, Jiangshun Technology, and Zhongjie Automotive [1] - Tianyouwei has the highest IPO price of the year at 93.5 yuan per share, with a subscription limit of 12,500 shares per account [1] - Jiangshun Technology's IPO price is set at 37.36 yuan per share, with a subscription limit of 15,000 shares [3] - Zhongjie Automotive's IPO price is 16.5 yuan per share, with a subscription limit of 7,000 shares [4] Company Profiles Tianyouwei - Tianyouwei is a leading supplier of automotive instrument panels, serving clients such as BYD, Changan Automobile, and FAW [1][2] - The company focuses on the research, design, production, and sales of automotive instruments, with plans to expand into the smart cockpit sector [1] - Projected revenues for 2022 to 2024 are 1.972 billion yuan, 3.437 billion yuan, and 4.465 billion yuan, respectively, with net profits of 397 million yuan, 842 million yuan, and 1.136 billion yuan [2] Jiangshun Technology - Jiangshun Technology specializes in aluminum profile extrusion molds and related equipment, having established long-term partnerships with major manufacturers [3][4] - The company has projected revenues of 892 million yuan, 1.043 billion yuan, and 1.136 billion yuan from 2022 to 2024, with net profits of 139 million yuan, 146 million yuan, and 155 million yuan [4] Zhongjie Automotive - Zhongjie Automotive focuses on precision components for automotive thermal management systems, with a product range that includes heat exchangers and cooling systems [4][5] - The company has over 3,000 product models and an annual shipment volume exceeding 100 million units, serving major global automotive brands [5][6] - Projected revenues for 2022 to 2024 are 713 million yuan, 822 million yuan, and 978 million yuan, with net profits of 78 million yuan, 83 million yuan, and 95 million yuan [6]

Group 1: New IPOs - This week, three new stocks are available for subscription: Tianyouwei, Jiangshun Technology, and Zhongjie Automobile, with Tianyouwei and Zhongjie Automobile being suppliers to BYD [1][11] - Tianyouwei's subscription code is 732202, with an issue price of 93.50 CNY per share and a P/E ratio of 13.50, compared to the industry average of 27.16 [3] - Jiangshun Technology's subscription code is 001400, with an issue price of 37.36 CNY per share and a P/E ratio of 15.32, compared to the industry average of 29.52 [8] Group 2: Tianyouwei Company Overview - Tianyouwei specializes in the research, design, production, and sales of automotive instruments, with a focus on smart cockpit development [3] - The company has a total issuance of 40 million shares, with 12.8 million shares available for online subscription [3] - Revenue projections for Tianyouwei from 2022 to 2024 are 1.972 billion CNY, 3.437 billion CNY, and 4.465 billion CNY, respectively, with net profits of 397 million CNY, 842 million CNY, and 1.136 billion CNY [4] Group 3: Jiangshun Technology Company Overview - Jiangshun Technology is recognized as a national-level specialized "little giant" enterprise, focusing on aluminum profile extrusion molds and related equipment [7][8] - The company has a total issuance of 15 million shares, all available for online subscription [8] - Revenue projections for Jiangshun Technology from 2022 to 2024 are 892 million CNY, 1.043 billion CNY, and 1.136 billion CNY, with net profits of 139 million CNY, 146 million CNY, and 155 million CNY [9] Group 4: Zhongjie Automobile Company Overview - Zhongjie Automobile engages in the R&D, production, and sales of automotive thermal management system components, and has established direct business relationships with Tesla and BYD [11][12] - The company has a total issuance of 30.4 million shares, with 7.3 million shares available for online subscription [12] - Revenue projections for Zhongjie Automobile from 2022 to 2024 are 713 million CNY, 822 million CNY, and 978 million CNY, with net profits of 78.31 million CNY, 82.55 million CNY, and 95.39 million CNY [12]

北交所策略专题报告 2025 年 04 月 06 日 诸海滨（分析师） zhuhaibin@kysec.cn 证书编号：S0790522080007 专题：关注 2025 战配大年机会，2024 年北交所新股打新+战配高收益 2025 年 1-3 月北交所共上市 3 家企业，从发行节奏上来看，预计 2025Q2 开始上 市节奏有望加速。2024 年全年北交所共上市 23 只新股，从实际上市时间点看， 2024 年新股上市的时间集中于 1-3 月以及 10-12 月。从新股市盈率角度来看，2024 年和 2025 年 1-3 月北交所首发市盈率均值为 14.99X 和 13.02X 低于行业市盈率， 安全边际较高。从新股中签率来看，北交所 2024 年中签率均值为 0.11%，较 2023 年全年下滑 1.90pcts；2025 年 1-3 月网上中签率均值为 0.08%，较 2024 年全年下 滑 0.03pcts。从冻结资金角度来看， 2024 年-2025 年 1-3 月的 26 只新股中网上 冻结资金在 1000 亿元以下的仅占 3.85%，冻结金额规模在 3000 亿以上公司占比 最大，占比 34.6 ...

New IPOs - In March 2025, 14 new stocks were issued in the A-share market, raising a total of 7.9 billion yuan, a month-on-month increase of 104.6%[6] - The average fundraising rate for new stocks was 85%, up 6 percentage points from the previous month[7] - The average first-day increase for new stocks was 227%, with a 2 billion yuan allocation yielding a profit of 1.468 million yuan[45] REITs - In March 2025, there were 2 REITs issued, with an average of 93 institutions participating in the offline inquiry, resulting in an average subscription multiple of 128.8 times, a record high since 2024[2] - The average pricing level for REITs rose to the 78th percentile of the inquiry range, an increase of 14 percentage points month-on-month[2] - The first-day average increase for REITs was 27.3% in the first quarter of 2025, with no instances of "zero break" on the first day of listing[2] Market Trends - The average initial PE ratio for new stocks in March 2025 was 21 times, a month-on-month increase of 22%, with a 46% discount compared to comparable companies[16] - The number of offline inquiry participants increased, with the average number of participants for the Sci-Tech Innovation Board and the Growth Enterprise Market reaching 5,767 and 6,530, respectively, both hitting new highs for the year[21] Risk Factors - Potential risks include changes in the pace of IPO reviews, adjustments to issuance systems, fluctuations in investor participation, and the quality and quantity of declared projects[2]

Group 1 - The new stock market shows a significant recovery in "profit-making effect," with an average first-day increase of 318% for four new stocks this week [1] - Hongjing Optoelectronics saw a first-day increase of 282.03%, with a single subscription profit close to 60,000 yuan, while Jiangnan New Materials surged 606.83%, marking the highest first-day increase for new stocks this year, with a single subscription profit of approximately 32,000 yuan [1] - Next week, three new stocks are scheduled for subscription, including Shihang New Energy, which is a leading global supplier of photovoltaic inverters [1][4] Group 2 - Shihang New Energy focuses on the research, production, sales, and service of new energy power equipment, specializing in solar energy conversion, storage, and management [5] - The company’s core products include string photovoltaic grid-connected inverters, photovoltaic energy storage inverters, storage batteries, and photovoltaic system accessories [5] - Shihang New Energy expects a net profit of 49 million to 55 million yuan for Q1 2025, with a year-on-year change of -0.10% to 12.14% [6] Group 3 - China Ruilin, established in 1957, is a key design unit in the non-ferrous metal industry, providing engineering design consulting and total contracting services [9] - The company serves major state-owned enterprises and large corporate groups in China, including China Nonferrous Mining, State Power Investment, and China Copper [1] - China Ruilin anticipates a net profit of 8.5 million to 11 million yuan for Q1 2025, with a year-on-year change of -0.16% to 29.21% [10] Group 4 - Taihong Wanli has over 20 years of experience in the automotive parts sector and has become a first-tier supplier for several well-known domestic and international automotive manufacturers [2] - The company actively collaborates with leading companies in the new energy vehicle sector, including NIO, Li Auto, and Xpeng Motors, and is a partner of major component suppliers like CATL [2] - Taihong Wanli projects a net profit of 38.8 million to 43.5 million yuan for Q1 2025, reflecting a year-on-year growth of 2.89% to 15.35% [11]