Core Insights - Multiple North Exchange 50 index funds have recently announced the suspension of large subscriptions to control capital inflow and maintain market stability [1][2][3] - The North Exchange 50 index has shown strong performance, with a year-to-date increase of 34.67% as of May 28, 2023, leading the overall market [2][3] Fund Actions - ICBC Credit Suisse Fund announced a suspension of large subscriptions for its North Exchange 50 index fund, limiting daily purchases to 50,000 yuan, with a fund size of 517 million yuan and a year-to-date return of 31.3% [1] - Dongcai North Exchange 50 index fund also suspended large subscriptions, with a limit of 200,000 yuan and a fund size of 782 million yuan, achieving a year-to-date return of 31.84% [1] - Other funds, such as E Fund and Pengyang, have implemented subscription limits ranging from 3,000 yuan to 50,000 yuan [2] Market Context - The North Exchange has established a unique position in the multi-tiered capital market, focusing on supporting innovative small and medium-sized enterprises [2][3] - The index includes key stocks from various sectors, such as healthcare, materials, information technology, and industrials, indicating a diversified investment approach [2] Long-term Outlook - The North Exchange is expected to provide unique investment value due to its focus on early-stage high-growth companies and the ongoing policy support for "specialized, refined, distinctive, and innovative" enterprises [3] - The market's small size and limited liquidity of certain constituent stocks may lead to significant price volatility, prompting the need for subscription limits to prevent excessive speculation and ensure market health [3]

文/Ronald 浙江志高机械股份有限公司（874450）北交所IPO于2024年6月28日获得受理。公司本次IPO拟募资3.95亿元。 | 代码 | 874450 | 简称 | 志高机械 | | --- | --- | --- | --- | | 公司全称 | 浙江志高机械股份有限公司 | 受理目期 | 2024-06-28 | | 审核状态 | 已问询 | 更新日期 | 2025-05-23 | | 保荐机构 | 东方证券股份有限公司 | 保存代表人 | 陈华明,刘俊清 | 公司前身衢州志高机械有限公司成立于2003年8月，2015年9月整体变更为股份公司。2024年6月24日公司股票挂牌新三板。目前注册资本6444.4463万 元。公司控股股东为衢州志高掘进控股有限公司，持有公司股份比例45.90%。实际控制人为1971年8月出生的谢存先生，谢存直接持有发行人 18.08%股 份，合计直接和间接持有发行人 55.62%股份，同时谢存担任公司董事长、总经理。 一、主要产品为钻机、螺杆机，广泛应用于矿山开采、基础设施建设、房地产建设等行业，工业螺杆机收入持续下降。分销商受到特别关注 公司是一家专业从事凿岩设 ...

中金科技不仅构建了完善的产业发展优势，更在科技创新和产业创新融合发展的道路上迈出了坚实 的步伐。 在高性能粉体材料领域，无汞电池锌合金产品更是成为了公司的明星产品。该产品通过自主创新， 填补了国内高性能碱性锌锰电池用无汞锌合金产品主要依赖进口的空白。 在深圳这座充满创新活力的城市，新材料产业正如一颗璀璨的新星，照亮着科技革命和产业变革的 道路。在这片热土上，国家级专精特新"小巨人"企业，深圳市中金岭南有色金属股份有限公司所属深圳 市中金岭南科技有限公司（下称"中金科技"）凭借其卓越的创新能力和深厚的行业积淀正闪闪发光。 作为广晟控股集团的重要成员，中金科技在发展过程中深入践行广晟控股集团FAITH经营理念，在 科技创新、人才培育等方面取得显著成就，加速向世界一流新材料制造商的目标迈进。 深耕细作，以"专"淬底蕴 广晟控股集团FAITH经营理念强调"聚焦主业"。中金科技牢记国企使命，以国家战略需求为导向， 深耕有色金属先进材料领域，致力于解决"卡脖子"技术难题。 自成立以来，中金科技始终专注于高性能粉体材料、热双金属、电池储能材料和复合金属材料的研 发制造。通过23年的深耕细作，公司在电池锌合金、冲孔镀镍钢带等 ...

近日，记者跟随广州市工业和信息化局走进增城区、黄埔区、海珠区、白云区进行民营企业走访，调研《广州市支持民营经济发展条例》一周 年落实情况，今年一季度，全市民营经济增加值为3279.4亿元，同比增长4.6%，拉动全市地区生产总值增长2.1%，占地区生产总值比重为 43.5%，占比创近5年新高。 中小企业创出成批"首次""第一" 政策赋能懂企业又懂行业 这些民营企业的"科创力"，正是广州制造实力的底气。广州为何能汇聚如此多的优质中小企业？ "广州各种政策的支持力度、落实程度都很好，像我们现在用地的帮扶政策叫20年弹性出让土地，园区土地租赁价格很便宜。"广州维德实业有 限公司总经理高翔告诉记者，白云的区位属于"承上启下"，距离机场和高铁站都很近，发货很方便，用地政策帮企业大大降低了经营成本。 今年4月，《广州城市创新指数报告（2024）》给出一组数据，广州高新技术企业、科技型中小企业分别增至1.3万家和2.1万家；广州新增专精 特新"小巨人"企业125家、实现翻倍增长，入选全球独角兽企业22家，增量全国第一；高新技术企业认定数首次突破5000家，科技型中小企业 增量居全国第一。 "我们的核心产品是防火电缆，能够耐高 ...

另一方面，打破壁垒，增强创新。各级园区要破除传统招投标、资质审批等领域的隐性壁垒，鼓励搭建 更多应用场景，为新技术、新产品落地提供更多机会。进一步搭建"天使—创投—私募—银行—资本市 场"的多元化接力式金融服务体系，壮大耐心资本，做企业最可信赖的陪跑人。创新型中小企业需要各 级园区寓管理于服务，增强企业长期发展动力和应对挑战的信心。还应提供定制化服务，实现有事上 门、承诺即办。加强数字化便利化支撑，探索"容缺审批"，实现监管服务无处不在、无事不扰，推动柔 性监管落地落实。 一段时间以来，江苏、湖南、安徽等多地加强优质中小企业梯度培育，建立"创新型中小企业—专精特 新中小企业—专精特新'小巨人'企业—制造业单项冠军企业"梯度培育体系，形成梯度培育库，引导企 业逐步走上专精特新发展之路。 不过，创新型中小企业由于兼具创新企业和中小企业的双重特点，成长的烦恼、面临的困难更多更繁 杂，尤其是在政策适用、要素支撑、公平规范、营商环境等方面有更强诉求。例如，中小企业服务机构 还存在专业性不强、服务精准度不够的问题，部分企业持续稳定经营存在困难，等等。未来，要因地制 宜，打造支持创新型中小企业蓬勃发展的优质生态。 一方面， ...

Group 1 - The event held on May 23 aimed to meet the financing needs of quality small and medium-sized enterprises (SMEs) and promote financial policies and application guidelines for these enterprises, while enhancing cooperation between government, banks, and businesses to support market expansion and increase financial support for the environmental industry chain [1][3] - Postal Savings Bank's Linyi Luozhuang District branch presented specialized financial products for the environmental sector, including exclusive policies for innovative enterprises and personal financing services, emphasizing customized financial services as a foundation for deep cooperation [3][5] - The establishment of a specialized board in the regional equity market aims to support the development of SMEs, with financial institutions committed to addressing practical issues and needs to safeguard the development of enterprises [5] Group 2 - Local government officials encouraged enterprises in the environmental sector to actively pursue honors such as "Gazelle Enterprises," "Unicorns," and "Manufacturing Single Champions," contributing to local financial development [5] - The Postal Savings Bank's branch plans to leverage this event to explore new service models between government, enterprises, and banks, focusing on solving financing difficulties for small and micro enterprises and supporting high-quality economic and social development in the region [5]

Core Viewpoint - The company Jiao Da Tie Fa (920027.BJ) is set to be listed on the Beijing Stock Exchange, focusing on the research, production, and sales of intelligent products and equipment for rail transit, along with providing specialized technical services [1][4]. Group 1: Company Overview - Jiao Da Tie Fa specializes in rail transit intelligent products and equipment, including safety monitoring products, railway information systems, new materials, intelligent equipment, surveying services, and operation and maintenance services [1]. - The company has participated in the development of the "High-speed Railway Earthquake Early Warning System" in collaboration with the China Earthquake Administration and is one of the three certified suppliers for this product [4]. - Jiao Da Tie Fa's products are widely used in various rail systems, including high-speed railways and urban transit systems, with major clients being state-owned enterprises related to railways [4]. Group 2: Financial Information - The initial offering price for Jiao Da Tie Fa is set at 8.81 yuan per share, with an issuance price-to-earnings (P/E) ratio of 12.94, significantly lower than the industry average P/E ratio of 34.96 [2]. - The company plans to allocate raised funds for several projects, including 0.60 billion yuan (35.39%) for a new production project, 0.51 billion yuan (30.21%) for a research center, 0.25 billion yuan (14.79%) for marketing and after-sales service network construction, and 0.33 billion yuan (19.60%) for working capital [2]. Group 3: Management and Control - The actual controller of Jiao Da Tie Fa is Wang Pengxiang, who holds 13.99% of the shares directly and controls a total of 41.05% of the voting rights through various agreements [5]. - Wang Pengxiang has extensive experience within the Southwest Jiaotong University system and has transitioned to full-time work at the company after obtaining leave for entrepreneurship [5]. Group 4: Market Position and Strategy - The company aims to enhance its operational strength and pursue a national development strategy as a key future goal [6]. - The median TTM P/E ratio of comparable companies is noted to be 37.7X, indicating a potential investment interest in Jiao Da Tie Fa [6].

政策红利与市场信心共振，推动北交所估值逻辑重构。市场层面，北证50指数年内表现亮眼，成交额与 估值中枢稳步上移。中国小康建设研究会专家余伟表示，北交所上市公司价值正被长期资本挖掘，"政 策引导+企业成长"双轮驱动下，行情仍有上升空间，但投资者需警惕波动风险。 专家建议，融资端需吸引更多优质企业上市，投资端应引入多元资金，审核端则需优化规则防范风险。 随着沪深北市场联动加强，北交所"小而美"企业的成长弹性与制度红利，或将成为资金配置的新蓝海。 （文章来源：上海证券报） 5月以来，随着年度业绩说明会密集召开，多家北交所上市公司迎来机构"组团"调研，其技术创新能 力、市场拓展战略及政策改革红利下的发展潜力，吸引了公募基金、外资机构等长期资本的深度参与。 以硬科技与新兴消费领域为代表的企业成为机构关注的焦点。武汉蓝电公告显示，近日汇添富基金、天 弘基金、红杉中国等30余家机构对其展开调研，重点关注电池测试设备的市场格局及大功率产品的前 景。公司表示，随着新能源汽车及储能产业快速发展，大功率设备需求有望持续增长。同期，农业科技 与健康消费赛道也热度不减。一致魔芋通过"线上+线下"形式接待了中金公司、摩根士丹利等多家海内 ...

Group 1 - The application window for the seventh batch of "specialized, refined, distinctive, and innovative" small giant enterprises has opened, accelerating the development of small and medium-sized enterprises (SMEs) towards this path [1] - The Beijing Municipal Bureau of Economy and Information Technology and Beijing State-owned Assets Company are guiding the initiative, with Guorong Industrial Development providing a three-dimensional service system to support innovative SMEs in upgrading to key "small giant" enterprises and manufacturing champions [1] - Guorong Industrial Development operates a public service platform for SMEs in Beijing, utilizing AI algorithms to analyze nearly 30,000 policies, creating personalized "enterprise profiles" for rapid policy matching [1] Group 2 - The "Qianyi Changrong" financing service platform, operated by Guorong Industrial Development, collaborates with various financial institutions to provide low-threshold, high-efficiency, and full-cycle financial solutions for specialized and innovative enterprises [2] - As of now, the "Qianyi Changrong" platform has connected with over 7,000 SMEs, including more than 700 specialized and innovative enterprises, disbursing nearly 540 million yuan in loans [2] - The "Maker Beijing" competition, an important brand event for promoting innovation and entrepreneurship among SMEs, has attracted over 5,791 projects in its 2024 edition, with participation from over 3,000 projects across various fields [2]

◎记者 林超 创办20周年之际，全钢巨胎龙头企业海安橡胶集团股份公司（下称"海安橡胶"）即将迎来5月30日的IPO 上会时刻。 历经20年淬炼，一条轮胎被海安橡胶越做越"大"：产品之大——仅轮毂直径最大可达63英寸，近一人 高；规模之大——年产量列全球第四，2024年净利润超6亿元；舞台之大——产品打破国际垄断，远销 秘鲁、智利、澳大利亚、俄罗斯、塞尔维亚、印度尼西亚等国家。 作为重型矿用卡车的关键配套产品，全钢巨胎不仅能承载100吨以上的矿车之重，也承载着我国采矿装 备安全之重。生产一条全钢巨胎难在哪儿？海安橡胶如何助力我国全钢巨胎产业不再被"卡脖子"，进而 走向国际？上海证券报记者近日走进海安橡胶厂区寻找答案。 以"中国第一胎"破国际垄断 福建省莆田市仙游经济开发区枫亭工业园区，海安橡胶厂房内，机器轰鸣。厂房一侧，摆放着一排各种 尺寸的成品巨型轮胎。正中间的一条轮胎上，"中国第一胎"几个大字格外醒目。 "最大的轮胎高可达4米，重6吨，价值数十万元。制造这样一条轮胎全流程得耗时五六天。"一位现场技 术人员自豪地介绍道，"最关键的是，有了这些轮胎，我们的重型矿山卡车就不用看国外轮胎厂商的脸 色了。" 海安橡胶 ...