央视网消息：从10月9日起，北京证券交易所全面启用新的证券代码，股票的辨识度显著提升。 北交所启用独立代码号段工作总共历时两年多完成。业内人士表示，统一代码有助于强化北交所"专精特新"特色与着重培育创新型中小企业等特点，与 沪深交易所形成差异化竞争。 北交所代码切换工作分阶段、分步骤实施。先切换增量，再切换存量。2023年9月1日，证监会发布《关于高质量建设北京证券交易所的意见》，提 出"启用北交所独立代码号段，提高股票辨识度"。 2024年4月起，北交所已在新上市企业中启用"920"代码，截至目前，已有29只新发行的股票完成代码切换。 今年5月6日，6只存量股票试点完成代码切换。10月9日，剩余242只存量股票完成代码切换，这标志着北交所全面完成代码切换工作。 在这之前，北交所部分存量股票前三位仍沿用新三板时期的43、83、87等老代码，相比沪深交易所上市公司代码，存在辨识度较低等问题，连资深投资 者都容易混淆，需要经常频繁核对资料。 多家券商已发布公告提醒，投资者对存量股票的交易委托、行情查询等均使用切换后的新代码。新旧代码切换不涉及交易规则调整，买卖方式、涨跌幅 限制、交易时间等均不变。 北交所全面启用 ...

● 本报记者 杨洁 10月9日起，北交所所有股票将全部切换为920新代码号段，投资者对存量股票的交易委托、行情查询， 市场主体对存量股票的业务办理等均使用切换后的证券代码。投资者可通过北交所官网"服务—新旧代 码对照表"栏目查询新旧代码对应关系。 多家券商发文表示已对交易终端进行了优化，建议投资者使用最新版本交易终端。 光大证券表示，对于北交所存量切换代码股票，投资者需要输入新代码方能委托成功，输入旧代码时系 统将提示报错无法委托。 2025年以来，北交所上市公司存量代码切换工作节奏加快。北交所介绍，存量代码的切换工作采用 了"一体推进、试点先行"的思路。2025年9月12日，北交所发布《关于北交所存量上市公司代码切换上 线的通知》称，北交所存量上市公司代码切换工作总体准备就绪，自2025年10月9日起，北交所将为存 量股票启用新证券代码。 提高北交所公司辨识度 券商提示投资者代码切换 北交所上市公司股票代码切换后，主体身份的连续性、投资者权益及相关业务办理的连续性不受影响。 自代码切换生效日起，券商向客户提供的电脑客户端、手机App、电话委托、现场委托等各委托渠道， 均需支持用新代码交易北交所上市公司股票。 ...

2023年11月17日，北交所启动为上市公司股票使用"920新代码号段"的相关准备工作。按照稳妥起步、 简单先行的工作思路，北交所拟定了"分阶段切换、分步骤实施"的工作安排，"先切换增量，再切换存 量"。 ● 本报记者 杨洁 10月9日起，北交所所有股票将全部切换为920新代码号段，投资者对存量股票的交易委托、行情查询， 市场主体对存量股票的业务办理等均使用切换后的证券代码。投资者可通过北交所官网"服务—新旧代 码对照表"栏目查询新旧代码对应关系。 多家券商发文表示已对交易终端进行了优化，建议投资者使用最新版本交易终端。 提高北交所公司辨识度 北交所设立之初，为实现平稳起步和顺畅衔接，上市公司股票沿用在新三板挂牌时的证券代码。沿用新 三板挂牌时期代码可能会造成投资者混淆。北交所全面启动920代码号段，统一了新三板代码400、 430、830多个开头造成的模糊感，将920代码与北交所标识绑定，有效提高北交所上市公司辨识度，提 高板块认同感。 开源证券北交所研究中心总经理诸海滨表示，统一的920代码有助于强化北交所"专精特新"特色与着重 培育创新型中小企业等特点，吸引相应特点优质企业加入板块。 2023年9月1日 ...

北交所迎来新篇章！ 当时，北交所表示，考虑到与存量上市公司切换920代码号段的工作衔接，北交所将在本次为新上市公 司启用920代码号段功能上线时，按照后三位不变方式为存量上市公司预留证券代码，后三位重复的， 对后上市公司按照上市时间先后顺序逐家对第四位代码做递进处理，直至与已预留的证券代码不重复。 2024年4月22日后新上市的公司将在剔除预留号码的代码区间内确定股票代码。 2024年12月，北交所发布了《关于做好北京证券交易所存量上市公司证券代码切换准备工作的通知》， 存量上市公司代码的切换工作开始准备。期间经过了多轮的系统测试准备。直到今年的9月12日，北交 所宣布10月9日存量上市公司正式切换。 对投资者影响大吗？ 与此同时，多家券商也发布公告称，公司已就此对交易终端进行了优化，建议投资者使用最新版本交易 终端。投资者对北交所存量股票的交易委托、行情查询等均使用切换后的新代码。投资者使用新旧代码 均可查询股票自上市以来（含原精选层挂牌期间）的完整交易记录。新旧代码切换不涉及交易规则调 整，买卖方式、涨跌幅限制、交易时间等均不变。 248只存量股票切换920代码 9月12日，北交所发布了《关于北交所存量上 ...

Investment Rating - The report indicates a positive outlook for the industry, with the North Exchange 50 Index closing up 0.63% at 1617.13 points, reflecting a strong market activity level [4][8]. Core Insights - The North Exchange market continues to rise, with a trading volume of 25.9 billion yuan on September 16, 2025, despite a slight decrease from the previous trading day [4][8]. - The automotive parts sector is leading the market, showing significant capital accumulation effects, as funds shift from high-position themes to industries with strong performance certainty, such as the automotive supply chain and high-end manufacturing [4]. - The upcoming "920" code switching policy on October 9 is expected to enhance market standardization and improve long-term liquidity [4]. - The report highlights a structural differentiation in the market, with 122 stocks rising and 148 falling among the 275 companies listed on the North Exchange [4][18]. Summary by Sections Market Review - On September 16, the North Exchange A-shares trading volume reached 25.9 billion yuan, a decrease of 0.11 billion yuan from the previous day, with the North Exchange 50 Index closing at 1617.13, up 0.63% [8][4]. - The North Exchange specialized index closed at 2809.54, increasing by 1.57% [8]. Stock Performance - Among the 275 companies, 122 stocks increased, 5 remained flat, and 148 declined. The top five gainers were: - Kaiter Co., Ltd. (14.8%) - Huaguang Source Sea (14.3%) - Bond Co., Ltd. (12.5%) - Huayuan Co., Ltd. (11.9%) - Meizhigao (10.7%) - The top five decliners were: - Chicheng Co., Ltd. (-7.8%) - Hongyu Packaging (-5.4%) - Guoyi Bidding (-4.7%) - Gaisi Food (-4.5%) - Kexin New Materials (-4.5%) [18][20]. Important News - The Ministry of Commerce and nine other departments issued policies to expand service consumption, proposing 19 measures to stimulate economic growth [2]. - Tencent Cloud announced full adaptation to mainstream domestic chips, with its international customer base doubling within a year [2][22]. Key Company Announcements - Tongxin Transmission plans to increase the registered capital of its subsidiary by 2 million yuan, with the company contributing 1.02 million yuan [3]. - Yeguangming announced the use of 4.3 million yuan of its own funds to purchase fixed-income financial products from Taizhou Bank, with an expected annual yield of 3.61% [3][24].

Core Viewpoint - The Beijing Stock Exchange (BSE) has announced the completion of preparations for the stock code switching of existing listed companies, which will take effect on October 9, 2025, marking a significant adjustment in the market's foundational system and reinforcing BSE's independent status as China's third-largest stock exchange [1] Group 1: Code Switching Process - The code switching initiative began on November 17, 2023, to implement the China Securities Regulatory Commission's "Deep Reform 19 Articles" and aimed to standardize the stock codes to the "920 code segment" [2] - The BSE adopted a phased approach, first switching new listings to the "920 code" on April 22, 2024, with the first stock, Wanda Bearing, listed under this new code shortly thereafter [2] - A total of six pilot stocks were selected for the code switch, chosen for their long listing history and high market recognition, ensuring efficient switching without triggering adjustment mechanisms [2] Group 2: Testing and Implementation - The BSE conducted extensive network testing, with four tests carried out in April 2025, involving various market participants to ensure smooth participation in the BSE [3] - The testing covered the entire business chain, facilitating a seamless transition for institutional investors to engage with the BSE [3] Group 3: Market Identity and Valuation System - The introduction of the "920 code" will create a distinct three-digit code structure among China's stock exchanges, enhancing BSE's market identity [4] - Experts highlight that the new code signifies a critical milestone in BSE's market development, improving the recognition of listed companies and aiding investors in making informed decisions [4] - The transition from "New Third Board" to "BSE listed companies" will further reshape the valuation system, with the "920 code" serving as a unique identifier [5] Group 4: Market Performance - The recognition of new stocks on the BSE has been increasing, with average first-day price changes of 218% in 2024 and 268% in 2025 [5] - As of April 2025, 58.11% of BSE-listed companies are classified as specialized, refined, distinctive, and innovative "little giants," with 69.57% of new listings in 2024 falling into this category [5]

Core Viewpoint - The Beijing Stock Exchange (BSE) has completed the preparation for the stock code switching of existing listed companies, marking a significant adjustment in its market infrastructure and reinforcing its status as China's third-largest stock exchange [1][6]. Group 1: Code Switching Process - The code switching process began on November 17, 2023, to implement the China Securities Regulatory Commission's "Deep Reform 19 Articles" policy, transitioning to the "920 code segment" for listed companies [3]. - The BSE adopted a phased approach, first switching new listings to the "920 code" on April 22, 2024, with the first stock, Wanda Bearing, listed under this new code shortly after [3][5]. - A total of 248 existing stocks will have their codes switched starting October 9, 2025, requiring investors to use the new codes for trading and inquiries [1][3]. Group 2: Market Identity and Valuation System - The adoption of the "920 code" will create a distinct three-code structure among China's stock exchanges, enhancing the BSE's market identity [7]. - The new code signifies a critical milestone in the BSE's market development, improving the recognition of listed companies and facilitating investor engagement [7][8]. - The transition from "New Third Board" to "BSE listed companies" will help reshape the valuation system, with 58.11% of BSE-listed companies classified as "specialized, refined, distinctive, and innovative" by April 2025 [8].

Core Viewpoint - The Beijing Stock Exchange (BSE) is set to implement a significant adjustment by switching the stock codes of 248 existing listed companies to a new "920" code starting from October 9, 2025, which solidifies its independent status as China's third-largest stock exchange [1][4]. Group 1: Code Switching Process - The code switching initiative began on November 17, 2023, to address confusion caused by multiple initial code formats (400, 430, 830) used by companies listed on the New Third Board [2]. - The BSE adopted a phased approach, first switching new listings to the "920" code on April 22, 2024, with the first company, Wanda Bearing, listed under this new code shortly thereafter [2]. - A large-scale network testing was conducted in April 2025, involving various market participants to ensure a smooth transition for investors [3]. Group 2: Market Identity and Valuation System - The introduction of the "920" code will create a distinct three-code structure (6-0-9) among China's stock exchanges, enhancing the BSE's market identity [4]. - Experts indicate that the new code will improve the recognition of BSE-listed companies, facilitating better investor understanding and decision-making [4]. - The transition from New Third Board to BSE will allow companies to establish new trading dynamics and information disclosures, differentiating them from their previous listings [4]. Group 3: Market Performance and Composition - The recognition of new stocks on the BSE has been increasing, with average first-day price changes of 218% in 2024 and 268% in 2025 [5]. - As of April 2025, 58.11% of BSE-listed companies are classified as specialized, high-tech "little giants," with 69.57% of new listings in 2024 falling into this category [5]. - The code switch is expected to facilitate the transformation of companies from "New Third Board enterprises" to "BSE-listed companies," further driving the reformation of the valuation system [5].

Group 1 - The core point of the article is that the Beijing Stock Exchange (BSE) is officially switching to new securities codes for its existing listed companies starting October 9, 2025, marking a significant adjustment in its market infrastructure [1][3] - The code switch involves 248 existing stocks and is part of a broader strategy to enhance the BSE's independent status as China's third-largest stock exchange [1][2] - The transition to the new "920 code segment" began on November 17, 2023, and was implemented in phases to ensure a smooth transition for investors [1][2] Group 2 - The first stock to use the new "920 code" was Wanda Bearings, which listed on the BSE on April 11, 2025, indicating the operational readiness of the new code segment [2] - A total of six pilot stocks were selected for the initial testing phase, chosen for their high market recognition and the absence of code duplication, ensuring efficient switching [2] - The BSE conducted extensive network testing in April 2025, involving various market participants to ensure seamless participation in the new system [2] Group 3 - The introduction of the "920 code" enhances the identification of BSE-listed companies, making it easier for investors to track and analyze these companies separately from their previous listings on the New Third Board [3] - The BSE has experienced three market cycles since its establishment, with the valuation gap compared to the Shanghai and Shenzhen markets gradually narrowing [4] - As of April 2025, 58.11% of BSE-listed companies are classified as "specialized, refined, distinctive, and innovative" small giants, with a significant portion of new listings in 2024 also falling into this category [5]

Group 1 - The Beijing Stock Exchange (BSE) announced the implementation of new stock codes for existing listed companies, set to take effect on October 9, 2025 [1] - A total of 248 existing stocks will switch to new codes, and the corresponding old-new code mapping can be found on the BSE's official website [1] - The BSE emphasized the importance of companies preparing adequately for the transition to minimize operational risks during the code switch [1]