Core Viewpoint - The article discusses the recent surge in IPO activities on the Beijing Stock Exchange (北交所), highlighting the rapid pace of new stock listings and the strong market performance of newly listed companies, indicating a positive trend for investors and the market overall [3][4][6]. Group 1: IPO Activities - Three listing committee meetings and two new stock listings occurred within a week, with Aisheren (爱舍伦) debuting on January 21, 2026, and experiencing a significant first-day increase of 175.59%, closing at 44.04 yuan per share [3][4]. - Aisheren's IPO details include an issuance price of 15.98 yuan per share, a price-to-earnings ratio of 14.99, and total funds raised amounting to 270 million yuan [4]. - The upcoming listing of Guoliang New Materials (国亮新材) is set for January 22, 2026, contributing to a total of three new stocks listed in January [5]. Group 2: Market Performance - In 2025, the Beijing Stock Exchange had 26 new stocks listed, averaging about two per month, with some months seeing up to five listings [6]. - The average first-day increase for new stocks in 2025 was approximately 368%, with notable performers like Dapeng Industrial (大鹏工业) achieving a 1211.11% increase [6][8]. - The strong performance of new stocks has led to a significant market expectation for continued high returns, with no stocks experiencing a first-day drop in 2025 [6][8]. Group 3: Listing Review Acceleration - The listing review process on the Beijing Stock Exchange has accelerated, with six committee meetings held in January 2026 alone, indicating a trend of increased efficiency in the IPO process [7][8]. - Analysts note that the review process for specialized and innovative companies has become notably quicker, with some companies moving from application to approval in just a few months [8]. - The focus of the listing reviews appears to be on high-tech and advanced manufacturing sectors, reflecting a strategic support for these industries [8]. Group 4: Subscription and Frozen Capital - The subscription for new stocks has seen a significant increase, with frozen capital exceeding 800 billion yuan for several recent IPOs, indicating strong investor interest [9][12]. - Aisheren attracted 695,800 participants in its subscription, with a total frozen capital of 8789.21 million yuan [14]. - The upcoming IPOs of Nongda Technology (农大科技) and Meidel (美德乐) are expected to further increase the frozen capital, reflecting ongoing investor enthusiasm for new listings [16].

Group 1 - The core point of the article highlights the significant initial surge in the stock price of Shichang Co., which opened at 48.22 yuan, a 342.4% increase from the issue price of 10.90 yuan, before closing at 40.50 yuan, reflecting a 271.56% gain on its first trading day [1] - The stock's total market capitalization reached 2.348 billion yuan, indicating strong initial interest from investors despite subsequent price fluctuations [1] - The cash subscription system of the Beijing Stock Exchange requires substantial capital, with a minimum of 2 to 3 million yuan needed to secure a chance at 100 shares, making it challenging for retail investors to participate [1][3] Group 2 - Despite the high entry cost, there is a persistent enthusiasm for new stocks on the Beijing Stock Exchange, driven by large institutional investors rather than retail participants, who are often excluded from the lucrative opportunities [3] - The market has seen a continuous inflow of capital, with trading volumes exceeding 2 trillion yuan for 28 consecutive trading days, indicating a robust and active market environment [5] - The consistent high trading volume is viewed as a strong signal of market vitality, suggesting that as long as capital continues to flow, the market's upward momentum is likely to persist [5]