伴随海安集团（001233）于11月25日登陆A股市场，A股年内上市新股再添一只。经统计，截至目前，A股共有97只新股上市，逼近百只。另外，包括近 期"赚足"眼球的摩尔线程在内的4只个股已经启动申购，正在等待上市。从新股上市首日股价表现来看，97股中，85股上市首日股价翻倍，涨幅超100%，占 比近九成。就上市首日打新收益来看，影石创新暂列第一，投资者中一签浮盈达6.49万元。作为年内最贵新股，摩尔线程打新遭到机构投资者抢筹，114.28 元/股的发行价也让市场颇为关注其打新收益。就目前年内12只科创板新股首日平均涨幅来看，若摩尔线程能"跑赢"平均线之上，投资者中一签收益也将近 12万元，成为年内最赚钱新股。 | 广与 | | | | | | --- | --- | --- | --- | --- | | | 证券代码 | ▽ 证券名称 | 27 2 | 上市目期 | | 1 | 001233.SZ | | 海安集团 〜 | 2025-11-25 | | 2 | 920091.BJ | | 大鹏丁√ ツ | 2025-11-21 | | 3 | 920160.BJ | | 北矿检测 | 2025-11-18 ...

今年四季度以来，在A股市场整体涨势趋缓，波动加大的情况下，A股市场上市新股依旧保持了较好的表现，且新股首日平均涨幅较今年前三季度进一步 提升。 值得注意的是，在新股表现较好，且新股中签依旧能维持不错收益的同时，也出现僧多粥少的局面，打新也越来越难中签，四季度以来新股网上中签率整体进一步 走低。 四季度以来新股表现良好：首日平均最大涨幅达334.08% 11月6日，新股大明电子收盘上涨413.55%，盘中一度上涨超过500%。资料显示，大明电子发行价为12.55元，若按照11月6日盘中大明电子的最高价（75.80元）计 算，中一签大明电子新股盘中最大浮盈将达到3.16万元。 上述案例是今年四季度以来A股市场新股良好表现的一个缩影，这期间恰逢A股市场整体涨势趋缓，波动加大。 数据显示，若按照上市日期统计，今年第四季度以来合计已有12只A股新股上市，上述新股在上市首日均录得不错表现，首日收盘平均涨幅达273.75%，其中丹娜生 物、大明电子、超颖电子、道生天合、奥美森上市首日收盘涨幅均超过300%。这里面，丹娜生物、大明电子两只新股上市首日收盘涨幅超过400%。 若从上市首日盘中最大涨幅来看，相关新股首日表现显得更 ...

Core Viewpoint - The article highlights the strong performance of newly listed stocks, particularly N Chao Ying, which saw a significant price increase on its debut, indicating a positive trend in the new stock market and investor sentiment [1][2][5]. Company Overview - N Chao Ying specializes in the research, production, and sales of printed circuit boards (PCBs) and has issued a total of 52.5 million shares at a price of 17.08 yuan per share, with an issuance price-to-earnings ratio of 28.64 times, compared to the industry average of 60.52 times [3]. - The company raised approximately 897 million yuan, which will be used to enhance liquidity, repay bank loans, and fund the second phase of its high-layer and HDI projects, adding 360,000 square meters of production capacity to meet growing market demands [3]. Market Position - According to the China Electronic Circuit Industry Association, N Chao Ying ranks 23rd among PCB companies in China and is among the top ten global suppliers of automotive electronic PCBs, as well as one of the top five in China [3]. Client Relationships - N Chao Ying has established stable partnerships with renowned clients in various sectors, including automotive electronics (e.g., Continental, Valeo, Bosch, and Tesla), display technology (e.g., BOE, LG Group), and storage (e.g., Seagate, Western Digital, SK Hynix) [4]. - The company collaborates with clients for new technology development and has gained recognition for its diverse production processes and one-stop procurement services [4]. New Stock Market Trends - The recent performance of new stocks has been robust, with several companies, including Yunhan Xincheng and Aomeisen, experiencing significant first-day gains, reflecting a recovery in the new stock issuance pace and investor enthusiasm [5][6]. - Statistics show that the average profit from new stock subscriptions for A-class accounts has increased significantly, indicating a favorable environment for new stock investments [6].

Core Viewpoint - The IPO of Super Electronics (603175) on the Shanghai Stock Exchange is characterized by a low issuance price and low valuation, making it an attractive opportunity for investors in the current market environment [1][2]. Group 1: IPO Details - Super Electronics plans to issue 12.6 million shares at an issuance price of 17.08 yuan, significantly below the perceived safe line of 30 yuan [1][2]. - The required market value for the maximum subscription is 125,000 yuan in Shanghai stocks [1][2]. - The company has a dynamic price-to-earnings (P/E) ratio of 23.47, which is lower than the industry average of 60.52 [1][7]. Group 2: Financial Performance - In the first half of the year, Super Electronics achieved a revenue of 2.185 billion yuan, representing a year-on-year growth of 12.61%, while the net profit attributable to shareholders was 159 million yuan, down 11.85% year-on-year [3][4]. - The company's revenue for the past three years was 3.514 billion yuan, 3.656 billion yuan, and 4.124 billion yuan, with a revenue growth rate of 12.78% last year [4]. - The company expects a revenue growth of 4.89% to 11.45% in Q3 2025, but a decline in net profit by 9.49% to 1.19% [4]. Group 3: Fundraising and Use of Proceeds - The total funds raised from the IPO amount to 896 million yuan, exceeding the initial target by 236 million yuan [6]. - The raised funds will be used for the second phase of the high-layer and HDI project, to supplement working capital, and to repay bank loans [5]. Group 4: Market Sentiment - The low subscription price and the ease of participation in the IPO are expected to attract a large number of retail investors, creating a "supply-demand" imbalance [9]. - The favorable market conditions have led to a sentiment where new shares are generally expected to rise on the first trading day, enhancing the attractiveness of this IPO [2][9].

Summary of Key Points Core Viewpoint - In the first three quarters of this year, the A-share market saw 78 new stocks listed, raising a total of 77.302 billion yuan, with an impressive average first-day closing increase of 242.33% for these IPOs, indicating a strong market sentiment and profitability from new stock investments [1][3]. Group 1: IPO Performance - A total of 78 new stocks were listed in the A-share market this year, with the ChiNext board having the highest number at 29, followed by the Main Board with 26, the Sci-Tech Innovation Board with 8, and the Beijing Stock Exchange with 15, making the combined share of the ChiNext and other innovative boards 47% [3]. - Notable first-day performances include Sanxie Electric, Jiangnan New Materials, and Guangxin Technology, with first-day increases of 785.62%, 606.83%, and 500% respectively [3][4]. - Among the 22 stocks that saw first-day increases exceeding 300%, 7 were from the Main Board, 7 from the ChiNext, and 1 from the Sci-Tech Innovation Board [3]. Group 2: Specific Stock Highlights - Sanxie Electric debuted on the Beijing Stock Exchange on September 8, with an opening increase of 681.43%, peaking at 862.63% during trading, and closing at a 785.62% increase [4]. - The average first-day increase for 18 new stocks priced below 10 yuan was 344.44%, with the lowest priced stocks, Huadian New Energy, Tiangong Co., and Saifen Technology, seeing first-day closing increases of 125.79%, 411.93%, and 379.17% respectively [4]. - Ying Shi Innovation, listed on June 11, achieved a first-day increase of 274.44%, with potential profits of 64,900 yuan for a single subscription of 500 shares, marking it as the largest profit opportunity of the year [4][6]. Group 3: Industry Trends - The trend of high first-day returns is particularly pronounced among lower-priced stocks, indicating a potential investor preference for affordable entry points in the current market environment [4]. - The overall positive sentiment in the A-share market is reflected in the strong performance of new listings, suggesting a robust recovery and investor confidence [1][3].

Core Viewpoint - In the first three quarters of this year, the A-share market saw a total of 78 new IPOs, raising a total of 77.302 billion yuan, with an impressive average first-day closing gain of 242.33% for these new stocks [1][2]. Group 1: IPO Performance - The A-share IPO market has experienced a significant increase in profitability, with no new stock breaking below its issue price on the first day of trading [2]. - The ChiNext board had the highest number of new listings, totaling 29, while the Main Board, Sci-Tech Innovation Board, and Beijing Stock Exchange had 26, 8, and 15 listings respectively, with the dual innovation boards accounting for 47% of the total [2]. - The top three performers on their first trading day were Sanxie Electric, Jiangnan New Materials, and Guangxin Technology, with gains of 785.62%, 606.83%, and 500% respectively [2]. Group 2: Notable IPOs - Sanxie Electric, which focuses on control motors, had a first-day opening increase of 681.43%, peaking at 862.63% during trading, and closing at a gain of 785.62% [3]. - The average first-day gain for new stocks priced below 10 yuan was 344.44%, with notable performers including Huadian New Energy, Tiangong Co., and Saifen Technology, which had closing gains of 125.79%, 411.93%, and 379.17% respectively [3]. - Ying Shi Innovation, listed on June 11, achieved a first-day gain of 274.44%, resulting in a potential profit of 64,900 yuan for a single subscription of 500 shares, marking it as the largest "meat ticket" of the year [3][4]. Group 3: Other High-Performing New Stocks - Other new stocks this year, such as Hongjing Optoelectronics, Tongyu New Materials, and Xidian Co., also reported single subscription profits exceeding 50,000 yuan [5].

Core Viewpoint - The recent listing of new stocks in the Shenzhen and Shanghai markets has shown significant profitability, with some stocks yielding over 30,000 yuan per lot, highlighting strong investor interest and market performance [1]. Group 1: New Stock Listings - In the past three months, 18 new stocks have been listed in the Shenzhen and Shanghai markets, excluding the Beijing Stock Exchange [1]. - N Yunhan (301563) was listed today, achieving a maximum increase of 425.93% and closing at 116.80 yuan, representing a rise of 332.59% [1]. - The stock had a turnover rate of 81.95% and a total trading volume of 1.429 billion yuan [1]. - Investors could earn a maximum profit of 57,500 yuan per lot based on the highest price during the day, or 44,900 yuan based on the closing price [1]. Group 2: Company Financials and Projects - N Yunhan's total issuance was 16.279 million shares, with an online issuance of 7.095 million shares at a price of 27.00 yuan, resulting in a price-to-earnings ratio of 20.91 [2]. - The online issuance had a final winning rate of 0.0143369671%, with 14,190 winning numbers and a total of 7.063 million shares subscribed by online investors, while 32,000 shares were abandoned [1][2]. - The company raised 440 million yuan, primarily for working capital, upgrading its big data center and component trading platform, building an electronic industry collaborative manufacturing service platform, and establishing smart shared warehousing [2]. - Projected net profits for 2022 to 2024 are 136 million yuan, 78.6126 million yuan, and 88.2728 million yuan, reflecting year-on-year changes of -15.86%, -42.04%, and 12.29% respectively [2]. - For the first half of 2025, the company expects a revenue of 1.44 billion yuan, a year-on-year increase of 17.82%, and a net profit of 53.9204 million yuan, up 40.65% year-on-year [2].

Core Viewpoint - The initial public offering (IPO) of Shanda Electric (301609) on the ChiNext board features a low issuance price of 14.66 yuan, significantly below the perceived safe line of 30 yuan, and a price-to-earnings (P/E) ratio of 19.57, which is lower than the industry average of 20.25 [1][2]. Group 1: IPO Details - Shanda Electric plans to issue 10.38 million shares, requiring a minimum investment of 100,000 yuan in Shenzhen stock [1][2]. - The company has a total issuance of 40.72 million shares, raising approximately 596 million yuan, exceeding its fundraising target [7]. - The stock's total market capitalization post-IPO is 2.387 billion yuan, with a static P/E ratio of 18.79, compared to higher valuations of similar companies [7]. Group 2: Financial Performance - In Q1, Shanda Electric reported revenue of 111 million yuan, a year-on-year increase of 12.02%, and a net profit attributable to shareholders of 17.32 million yuan, up 15.91% year-on-year [3][4]. - The company’s revenue for the past three years was 478 million yuan, 549 million yuan, and 658 million yuan, with a growth rate of 19.85% last year [4]. - The projected revenue growth for the first half of 2025 is between 13.55% and 21.66%, with net profit growth expected between 14.87% and 24.65% [4]. Group 3: Business Overview - Shanda Electric specializes in the research and development of intelligent products related to power systems, with key products including smart monitoring and new energy products [2]. - The company plans to use the raised funds for projects including the production of intelligent equipment for power grid fault analysis and smart charging stations for new energy vehicles [5][6].

Group 1 - The overall performance of newly listed stocks in the A-share market since 2025 has been strong, with over 60% of new stocks having a minimum price that has doubled compared to their issue price, and over 90% having at least once reached a price that doubled their issue price [1][2][3] - As of now, there have been 45 new stocks listed this year, all of which have seen price increases on their first trading day, with 38 stocks closing with gains exceeding 100%, accounting for over 80% of the total [2][3] - Notably, no new stocks have experienced a decline below their issue price this year, with only a few stocks showing minimal increases of less than 10% from their issue prices [2][3] Group 2 - The average maximum price increase for newly listed stocks has reached 352.06%, with 41 stocks showing maximum increases exceeding 100%, representing 91.11% of the new listings [3] - Specific stocks such as Xingtou Measurement Control and Tianhe Magnetic Materials have shown maximum price increases exceeding 500%, with Xingtou Measurement Control peaking at 139.99 yuan, reflecting a staggering increase of 1922.98% from its issue price [3][4] Group 3 - The overall online subscription rate for new stocks has decreased, making it more challenging for investors to secure shares. The average online subscription rate for newly listed mainboard stocks in 2025 is 0.0299%, down from 0.0470% in 2024 [12] - Similarly, the average online subscription rate for newly listed ChiNext stocks has also declined, from 0.0241% in 2024 to 0.0182% in 2025, indicating a trend of increasing difficulty in obtaining shares [12]

Core Viewpoint - The recent IPO of Zhongce Rubber has generated significant interest among investors, with a strong opening price that exceeded the issue price, reflecting the prevailing belief in the resilience of new stocks in the A-share market [1][3]. Group 1: IPO Performance - Zhongce Rubber's opening price was set at 57 yuan, which is 22.58% higher than the issue price of 46.50 yuan [1]. - Despite the initial surge, the stock price fluctuated throughout the day, closing with a gain of only 6.84%, indicating that the opening price was the peak for the day [3]. - Investors who sold at the opening could have realized a profit of 5,250 yuan per 500 shares, which is still considered a satisfactory return given the high issue price [3][5]. Group 2: Investor Behavior - A total of 60.7264 million shares were subscribed by online investors, while 487,500 shares were abandoned, amounting to 22.6722 million yuan in forfeited funds [5]. - The trend of abandoning subscriptions highlights a growing caution among investors, despite the strong belief in the "new stock invincibility" narrative [7]. - The abandonment of shares has led to disappointment among observers and serves as a reminder that perceived easy profits in the stock market can be elusive [7].