2026年02月01日 相关研究 证券分析师 刘靖 A0230512070005 liujing@swsresearch.com 王雨晴 A0230522010003 wangyq@swsresearch.com 郑菁华 A0230525060001 zhengjh@swsresearch.com 汪秉涵 A0230525090003 wangbh@swsresearch.com 研究支持 吕靖华 A0230124070002 lvjh@swsresearch.com 联系人 吕靖华 A0230124070002 lvjh@swsresearch.com 天什交易" 影响风偏，北证业 建发布 -北交所策略周报（20260126-20260201） 本周策略观点: 本周市场行情: 北交所新股: 前 一板可除: 请务必仔细阅读正文之后的各项信息披露与声明 本周北证 50 下跌 3.59%，日均成交小幅增长。1）本周北证指数震荡回调，A 股市场板 块轮动明显,前几周涨幅较高的军工、电力设备等板块回调,而石油石化、地产、食品饮 料、通信等前期滞涨品种出现反弹；2）北证本周表现较好的板块主要包括太空光伏(连城 数控+2 ...

Group 1 - The "Walsh trade" is impacting risk preferences, with a notable focus on the potential reversal of the "weak dollar" trade, which could significantly affect global asset allocation and market styles [11][12] - The North Exchange 50 index experienced a decline of 3.59%, while daily trading volume saw a slight increase [11][17] - Key sectors that performed well this week include space photovoltaic, seed industry, non-ferrous metals, and optical communication, with notable stock performances from companies like Liancheng CNC and Gongbika [11][12] Group 2 - New stock issuances have accelerated, with five new stocks launched in January 2026, and over 120 companies releasing performance forecasts [13][27] - As of January 30, 2026, 123 companies on the North Exchange have issued performance forecasts, with a median net profit forecast exceeding 80 million yuan [13] - The report suggests that the North Exchange needs to expand its number of companies and improve the quality of new stock issuances in 2026 [13] Group 3 - The North Exchange's PE (TTM) average is 83.89 times, with a median of 41.26 times, indicating a decline in valuation metrics [23][24] - The trading volume for the North Exchange reached 5.961 billion shares, with a trading value of 143.655 billion yuan, reflecting an increase of 9.27% and 8.82% respectively [26][29] - The report highlights the performance of individual stocks, with 43 stocks rising and 249 falling, resulting in a rise-to-fall ratio of 0.17 [36]