Wind数据显示，截至5月12日，全市场所有北交所主题基金的年内回报率均为正。除了前述两只年内回 报率超60%的主动权益类基金，汇添富北交所创新精选两年定开、万家北交所慧选两年定开的年内回报 率均超过50%。 ● 本报记者 魏昭宇 多只北交所主题基金今年以来表现不俗。Wind数据显示，截至5月12日，年内回报率最高的5只基金 中，有两只为北交所主题基金：中信建投北交所精选两年定开、华夏北交所创新中小企业精选两年定 开，这两只产品的年内回报率均超60%。 有业内人士表示，随着北交所市场的进一步走强，资金正在涌入这一赛道。综合目前上市公司披露的业 绩情况及未来预期，北交所市场不少标的具备中长期投资性价比，可以积极关注北交所主题基金的投资 机会。 主动权益类基金"擒牛" 2025年以来，北交所市场震荡走强。以北证50指数为例，2024年12月31日，该指数收于1037.81点，到 了2025年5月13日，该指数已经涨至1405.80点，年内涨幅超过35%。指数基金方面，易方达基金、华夏 基金、汇添富基金、南方基金等多家公募机构旗下的北证50指数主题基金的年内回报率均超30%。 相较于指数类基金，主动权益类基金在"擒 ...

Investment Rating - The industry investment rating is positive, indicating a favorable outlook for the sector, particularly for the North Exchange market, which has outperformed the Shanghai and Shenzhen indices [34]. Core Insights - The North Exchange 50 Index has shown significant growth, with a 3.62% increase in the week ending May 9, 2025, closing at 1379.31 points. This performance is notably better than the Shanghai 300 Index, which increased by 2.00% during the same period [9][19]. - The average market capitalization of the 265 A-share constituent stocks in the North Exchange is 2.936 billion [9]. - The liquidity in the North Exchange has improved, with an average daily trading volume of 31.119 billion, up 44.96% from the previous week, and a turnover rate of 3.35% [22]. Summary by Sections North Exchange Market Overview - As of May 9, 2025, the North Exchange has 265 A-share constituent stocks, with an average market capitalization of 2.936 billion. The North Exchange 50 Index has increased by 3.62% in the last week, outperforming other indices [9][19]. - The individual stock performance shows that 243 stocks increased, 22 decreased, and none remained flat, resulting in an increase ratio of 91.70%, which is a 37.36 percentage point increase from the previous week [14]. Industry Performance - The top five performing industries in the North Exchange from May 6 to May 9, 2025, are Defense and Military Industry (21.52%), Textile and Apparel (20.65%), Agriculture, Forestry, Animal Husbandry, and Fishery (9.84%), Social Services (8.71%), and Media (7.75%). The bottom five are Food and Beverage (2.94%), Computer (3.29%), Environmental Protection (3.97%), Communication (3.99%), and Pharmaceutical and Biological (4.01%) [19][20]. New Stock Updates - No new stocks were listed this week. One company, Danna Biology, submitted registration, and another, Jiaoda Iron and Steel, completed registration. Next week, one company (Youli Intelligent) will be reviewed, and one company (Tian Gong Co., Ltd.) will be listed [25][26]. Key Companies and Earnings Forecast - Key companies highlighted include: - Tongli Co., Ltd. (Stock Code: 834599.BJ) with a current price of 21.11, projected EPS of 1.99 for 2025, and a buy rating [4]. - Wuxin Tunnel Equipment (Stock Code: 835174.BJ) with a current price of 32.85, projected EPS of 1.64 for 2025, and a buy rating [4]. - Kaide Quartz (Stock Code: 835179.BJ) with a current price of 34.05, projected EPS of 1.03 for 2025, and a hold rating [4]. - Hualing Co., Ltd. (Stock Code: 430139.BJ) with a current price of 25.04, projected EPS of 0.34 for 2025, and a hold rating [4]. - Hengtai Open Source (Stock Code: 834415.BJ) with a current price of 17.38, projected EPS of 0.22 for 2025, and a hold rating [4]. - Tianli Composite (Stock Code: 873576.BJ) with a current price of 31.50, projected EPS of 1.03 for 2025, and a buy rating [4].

Group 1 - In Q1 2025, public fund institutions' heavy positions in the Beijing Stock Exchange reached a record high of 6.743 billion yuan, an increase of 24.45% compared to the end of 2024, accounting for 0.11% of public funds in A-share market [1][9][10] - The number of public fund institutions investing in the Beijing Stock Exchange also hit a record high, with 34 institutions participating, a growth of 17.24% from the end of 2024 [1][10] - The total scale of the North Certificate 50 index fund reached 9.539 billion yuan as of April 30, 2025, reflecting a year-on-year growth of 22.63% [1][14] Group 2 - The average return of 11 thematic funds in the Beijing Stock Exchange reached 33.48% in 2025, with all funds reporting positive returns [1][15][20] - Among the top 20 companies by institutional holdings, six companies saw an increase of over 1 million shares, including Binhang Technology and Audiwei, while three companies experienced a reduction of over 1 million shares [1][20][21] Group 3 - The overall PE ratio of the North Certificate A-shares increased from 45.22X to 46.46X, indicating a rising valuation trend [2][24] - As of April 30, 2025, 132 companies had a PE ratio exceeding 45X, accounting for 50% of the total, with 54 companies exceeding 105X [2][35] - The average PE ratios for key industries such as Information Technology and Chemical New Materials were 95.68X and 36.67X respectively, indicating high valuations in these sectors [2][37][41] Group 4 - The IPO review process saw three new companies accepted and one company terminated its listing as of April 30, 2025 [3][22] - The market performance of the North Certificate 50 index showed a 2.38% increase, closing at 1331.13 points [2][29][33]