Core Insights - The article presents a ranking of the most profitable new stocks since the implementation of the comprehensive irrigation system on February 17, 2023, highlighting their first-day performance [2][3]. Summary by Sections Stock Performance - The top-performing new stock is C沐曦-U, which had an issuance price of 104.66 and closed at 829.90, achieving a closing increase of 692.95% and a peak increase of 755.15% [3]. - The second-ranked stock, 暨尔线程-U, was issued at 114.28 and closed at 600.50, with a closing increase of 425.46% and a peak increase of 502.03% [3]. - 长联科技, ranked third, had an issuance price of 21.12 and closed at 381.00, resulting in a closing increase of 1,703.98% and a peak increase of 1,831.82% [3][4]. - Other notable mentions include 红四方, 诺瓦星云, and 中国瑞林, which also demonstrated significant first-day performance with closing increases ranging from 202.62% to 1,917.42% [4]. Market Trends - The article indicates a trend of substantial returns for new stocks, particularly in the 科创板 and 创业板 segments, suggesting a robust market environment for new listings [2][3][4].

Core Insights - The article discusses the performance of newly listed stocks since February 17, 2023, highlighting the significant price increases on their first trading days [3][4]. Group 1: Stock Performance - The top-performing new stock is C沐園-U, which had an initial price of 104.66 and closed at 829.90, marking a closing increase of 692.95% [4]. - 摩尔线程-U follows with an initial price of 114.28 and a closing price of 600.50, resulting in a 425.46% increase [4]. - 长联科技, with an initial price of 21.12, closed at 381.00, reflecting a remarkable increase of 1,703.98% [4]. - 红四方 saw its stock rise from an initial price of 7.98 to a closing price of 160.99, achieving a closing increase of 1,917.42% [4]. - 中国瑞林's stock increased from 20.52 to 99.90, resulting in a closing increase of 386.84% [5]. Group 2: Trading Volume and Price Fluctuations - The highest intraday price increase was observed in 托普云农, which had a maximum price of 170.00, reflecting an intraday increase of 1,072.41% from its initial price of 14.50 [6]. - The stock with the highest trading volume was C沐園-U, with 395,170 shares traded on its first day [4]. - The stock with the second-highest trading volume was 摩尔线程-U, with 286,860 shares traded [4].

Core Points - The former chairman of the China Securities Regulatory Commission (CSRC), Yi Huiman, is under investigation for serious violations of discipline and law, as announced by the Central Commission for Discipline Inspection and the National Supervisory Commission [2] - Yi Huiman served as the chairman of the CSRC from January 2019 to February 2024, during which he oversaw significant reforms in China's capital markets, including the launch of the Science and Technology Innovation Board and the implementation of a comprehensive registration system [4][5] Background - Yi Huiman began his career at the People's Bank of China and joined the Industrial and Commercial Bank of China (ICBC) in January 1985, where he held various positions for over 30 years before moving to the CSRC [3] - His tenure at ICBC included roles such as Vice President and President, and he served as the Party Secretary and Chairman before transitioning to the CSRC [3][4] Achievements - Under Yi Huiman's leadership, the CSRC implemented the comprehensive registration system, which significantly expanded the A-share market, resulting in over 1,900 new listings during his tenure [5] - The A-share market experienced a mixed performance during his time, with the Shanghai Composite Index rising by 8.76%, the Shenzhen Component Index by 14.65%, and the ChiNext Index by 34.89%, while the Sci-Tech Innovation 50 Index fell by 25.66% [5]

Core Viewpoint - Yi Huiman has had a long career in the banking and regulatory sectors, transitioning from a senior role at the Industrial and Commercial Bank of China (ICBC) to the Chairman of the China Securities Regulatory Commission (CSRC), where he has implemented significant reforms in the capital market, including the introduction of a comprehensive registration system for A-shares [4]. Group 1: Career at ICBC - Yi Huiman joined ICBC in January 1985 and held various positions within the bank for over 30 years, including Vice President and President [2][3]. - His roles included leadership positions in multiple branches, such as Hangzhou, Zhejiang, and Jiangsu, before moving to the head office [2]. Group 2: Tenure at CSRC - Yi Huiman became the Chairman of CSRC in January 2019, with his term set to end in February 2024 [4]. - He described his transition from market participant to regulator as a significant challenge, stating he felt like a "newcomer" in the regulatory role [4]. - Under his leadership, the CSRC implemented major reforms, notably the introduction of the registration system for A-shares, which began with the Sci-Tech Innovation Board in July 2019 and was followed by the ChiNext reform in August 2020 [4]. - During his tenure, over 1900 new companies were listed on the A-share market, approaching 2000 [4]. Group 3: Market Performance - The A-share market experienced a "rise and fall" trend during Yi Huiman's leadership at CSRC, with the Shanghai Composite Index increasing by 8.76%, the Shenzhen Component Index by 14.65%, and the ChiNext Index by 34.89% from January 2019 to February 2024 [4]. - In contrast, the Sci-Tech 50 Index saw a decline of 25.66% during the same period [4].

Core Viewpoint - Yi Huiman, the Vice Chairman of the Economic Committee of the 14th National Committee of the Chinese People's Political Consultative Conference, is under investigation for serious violations of discipline and law by the Central Commission for Discipline Inspection and the National Supervisory Commission [1]. Group 1: Career Background - Yi Huiman has over 30 years of experience within the Industrial and Commercial Bank of China (ICBC), starting his career at the People's Bank of China in Hangzhou before joining ICBC in January 1985 [3]. - Throughout his tenure at ICBC, Yi held various positions, including Deputy Director of the Planning Department, Vice President of the Hangzhou Branch, and eventually President and Party Secretary of ICBC [3]. - In January 2019, Yi transitioned to the China Securities Regulatory Commission (CSRC) as Party Secretary and Chairman, with his term set to end in February 2024 [4]. Group 2: Regulatory Impact - During his leadership at the CSRC, Yi emphasized the challenges of transitioning from market participant to regulator, describing his experience as "walking on thin ice" [4]. - Yi was instrumental in implementing reforms in China's capital markets, notably the full registration system for A-shares, which began with the launch of the Sci-Tech Innovation Board in July 2019 and the ChiNext reform in August 2020 [4]. - Under Yi's tenure, the number of new A-share listings exceeded 1,900, approaching 2,000, significantly contributing to the expansion of the A-share market [4]. Group 3: Market Performance - The A-share market experienced a "rise and fall" trend during Yi's leadership at the CSRC, with the Shanghai Composite Index increasing by 8.76%, the Shenzhen Component Index by 14.65%, and the ChiNext Index by 34.89% from January 26, 2019, to February 7, 2024 [5]. - In contrast, the Sci-Tech 50 Index saw a decline of 25.66% during the same period, indicating varied performance across different market segments [5].

Group 1 - The core viewpoint of the news is the emphasis on the comprehensive implementation of the stock issuance registration system to promote the stable and healthy development of the capital market [1][5]. - The government work report presented at the National People's Congress highlights the need to improve the bond financing support mechanism for private enterprises and to fully implement the stock issuance registration system [1]. - The China Securities Regulatory Commission (CSRC) is actively working on the registration system reform, with plans to evaluate pilot programs and summarize experiences to advance the comprehensive registration system and related institutional reforms [1][2]. Group 2 - The CSRC's 2022 work meeting emphasized the importance of the registration system reform as a main line for deepening capital market reforms, focusing on enhancing information disclosure and ensuring a favorable market ecosystem for the reform [2]. - The CSRC has released guidelines to improve the quality of prospectus information disclosure, indicating a long-term commitment to enhancing the registration system's foundation [3]. - The upcoming comprehensive registration system is expected to significantly change the capital market, reflecting confidence and courage in deepening reforms [5].