Core Insights - The A-share new stock market has seen 105 new listings as of May 6, 2023, with 84 stocks rising on their first day, 5 with no change, and 16 experiencing a decline [1][3]. Performance by Market Segment - The main board and the Sci-Tech Innovation Board have shown relatively stable performance, with only 1 stock breaking below its issue price in each segment [4]. - Among the 29 new stocks listed on the Beijing Stock Exchange, 6 have broken below their issue price, and 5 have shown no change; 8 out of 24 new stocks on the ChiNext have also broken below their issue price [5]. Sector Performance - The beauty and personal care sector had the highest average first-day increase, exceeding 100%, although only 1 stock was listed in this category [6]. - The computer sector has performed notably well, with no stocks breaking below their issue price and an average first-day increase of over 77% [6]. Notable Stock Performances - The highest first-day increase was recorded by Zhongdian Port, which rose by 221.55% on its debut [8]. - Sichuan Gold has achieved the highest overall increase this year, with a rise of 498.45% after 13 consecutive days of trading at the opening price [10][11]. - Yutai Microelectronics is identified as the most profitable new stock, with a first-day closing increase of 152.7%, allowing investors to earn up to 70,200 yuan per share [12][13][14]. Upcoming New Listings - A total of 10 new stocks are set to begin subscription from May 8 to May 12, 2023, including companies in various sectors such as financial services, medical devices, and environmental engineering [19][20][21][22][23][24][25][26][27].

Core Viewpoint - Three new stocks are available for subscription next week, including Han Gao Group, Ding Jia Precision, and Han Sang Technology, with specific details on their issuance and financial performance provided [2][3]. Group 1: Han Gao Group - Han Gao Group is a leading domestic home hardware enterprise, focusing on the research, design, production, and sales of home hardware and outdoor furniture [4]. - The subscription code for Han Gao Group is 001221, with an issuance price of 15.43 yuan per share and a price-to-earnings ratio of 11.86, compared to the industry average of 27.73 [5]. - The total issuance quantity is 40.01 million shares, with an online issuance quantity of 10.80 million shares. The maximum subscription limit for investors is 10,500 shares, requiring a market value of 105,000 yuan in the Shenzhen market [5]. - Projected revenues for Han Gao Group from 2022 to 2024 are 1.62 billion yuan, 2.22 billion yuan, and 2.86 billion yuan, respectively, with net profits of 206 million yuan, 333 million yuan, and 531 million yuan [5]. - The management expects revenue for the first half of 2025 to be between 1.39 billion yuan and 1.50 billion yuan, representing a year-on-year growth of 17.04% to 26.77%, with net profits expected to be between 234 million yuan and 263 million yuan, a growth of 18.64% to 33.66% [7]. Group 2: Ding Jia Precision - Ding Jia Precision's subscription code is 920005, with an issuance price of 11.16 yuan per share and a price-to-earnings ratio of 14.73, compared to the industry average of 40.93 [8]. - The total issuance quantity is 20 million shares, with an online issuance quantity of 16 million shares. The maximum subscription limit for investors is 950,000 shares [8]. - Ding Jia Precision specializes in the design, research, production, and sales of functional and protective products for consumer electronics, with clients including major manufacturers like Luxshare Precision and BOE [9]. - Projected revenues for Ding Jia Precision from 2022 to 2024 are 329 million yuan, 367 million yuan, and 408 million yuan, respectively, with net profits of 53.57 million yuan, 51.95 million yuan, and 59.55 million yuan [9]. - The management anticipates revenue for the first half of 2025 to be between 215 million yuan and 230 million yuan, with a year-on-year growth of 18.62% to 26.89%, and net profits expected to be between 38 million yuan and 42 million yuan, a growth of 35.37% to 49.62% [10]. Group 3: Han Sang Technology - Han Sang Technology is a domestic high-end audio solution provider, with a subscription code of 301491. The issuance price and earnings ratio have not yet been disclosed, but the industry average is 41.10 [12]. - The total issuance quantity is 32.25 million shares, with an online issuance quantity of 7.74 million shares. The maximum subscription limit for investors is 7,500 shares [12]. - Projected revenues for Han Sang Technology from 2022 to 2024 are 1.39 billion yuan, 1.03 billion yuan, and 1.45 billion yuan, respectively, with net profits of 190 million yuan, 136 million yuan, and 254 million yuan [16]. - The management expects revenue for the first half of 2025 to be between 650 million yuan and 700 million yuan, with a year-on-year change of -3.14% to 4.31%, and net profits expected to be between 85 million yuan and 90 million yuan, a decline of -24.22% to -19.76% [18].

Group 1: Huazhi Jie - Huazhi Jie is a leading company in the electric tools sector in China, focusing on the research, production, and sales of components for electric tools and consumer electronics [2][4] - The company plans to issue 25 million shares, with 8 million shares available for online subscription, and the maximum subscription limit for investors is 8,000 shares [2] - The global electric tools market was valued at $53.55 billion in 2023 and is projected to reach $98.7 billion by 2030, with China being the largest producer and exporter [2] - Huazhi Jie's revenue and net profit for 2022 to 2024 are projected to be 1.019 billion, 937 million, and 1.230 billion CNY, and 101 million, 121 million, and 154 million CNY respectively [2][11] Group 2: Xin Heng Hui - Xin Heng Hui is a leading enterprise in the smart card industry, involved in the research, production, sales, and testing services of integrated circuits [8][10] - The company plans to issue 59.89 million shares, with 14.37 million shares available for online subscription, and the maximum subscription limit for investors is 14,000 shares [9] - Xin Heng Hui's revenue and net profit for 2022 to 2024 are projected to be 684 million, 767 million, and 842 million CNY, and 110 million, 152 million, and 186 million CNY respectively [11][13] - The management expects the company's revenue for the first half of 2025 to be between 430 million and 465 million CNY, representing a year-on-year growth of 3.80% to 12.25% [14]

Summary of Key Points Core Viewpoint Three new stocks are available for subscription next week in the A-share market, including companies in the electric vehicle charging and intelligent transportation sectors. Group 1: Yoyo Green Energy - Yoyo Green Energy is a leading supplier of charging modules in China, focusing on the research, production, and sales of core components for electric vehicle charging equipment [1][4]. - The subscription code for Yoyo Green Energy is 301590, with an issue price of 89.60 CNY per share and a price-to-earnings ratio of 15.37, compared to the industry average of 19.25 [1][4]. - The company is recognized as a national-level "specialized and innovative" small giant enterprise, with notable clients including NIO and ABB [1][4]. Group 2: Financial Performance of Yoyo Green Energy - Projected revenues for Yoyo Green Energy from 2022 to 2024 are 988 million CNY, 1.376 billion CNY, and 1.497 billion CNY, respectively, with net profits of 196 million CNY, 268 million CNY, and 256 million CNY [2]. - As of December 31, 2024, total assets are expected to reach 1.797 billion CNY, with equity attributable to shareholders at 1.024 billion CNY and a debt-to-asset ratio of 42.89% [3]. - Management forecasts for the first half of 2025 indicate revenues between 750 million CNY and 914 million CNY, with net profits ranging from 118 million CNY to 142 million CNY [5][6]. Group 3: Jiao Da Tie Fa - Jiao Da Tie Fa is a high-tech enterprise specializing in the research, production, and sales of intelligent products and equipment for rail transportation, also recognized as a national-level "specialized and innovative" small giant [7][9]. - The subscription code for Jiao Da Tie Fa is 920027, with an issue price of 8.81 CNY per share and a price-to-earnings ratio of 12.94, significantly lower than the industry average of 34.96 [8][9]. - Projected revenues for Jiao Da Tie Fa from 2022 to 2024 are 235 million CNY, 273 million CNY, and 335 million CNY, with net profits of approximately 33.8 million CNY, 47.7 million CNY, and 53.4 million CNY [9][10]. Group 4: Financial Performance of Jiao Da Tie Fa - As of December 31, 2024, total assets are projected to be approximately 635.9 million CNY, with equity attributable to shareholders at 257.6 million CNY and a debt-to-asset ratio of 58.42% [10]. - Management forecasts for the first half of 2025 suggest revenues between 110 million CNY and 130 million CNY, with net profits ranging from 10.5 million CNY to 14 million CNY [12][13]. Group 5: Ying Shi Innovation - Ying Shi Innovation is a leading provider of intelligent imaging equipment, focusing on the research, production, and sales of panoramic and action cameras [14]. - The subscription code for Ying Shi Innovation is 787775, with the issue price and earnings ratio yet to be disclosed, but the industry average is 38.34 [14]. - Projected revenues for Ying Shi Innovation from 2022 to 2024 are 2.041 billion CNY, 3.636 billion CNY, and 5.574 billion CNY, with net profits of 407 million CNY, 830 million CNY, and 995 million CNY [15][16]. Group 6: Financial Performance of Ying Shi Innovation - As of December 31, 2024, total assets are expected to reach 502.1 million CNY, with equity attributable to shareholders at 318.1 million CNY and a debt-to-asset ratio of 36.16% [16]. - Management forecasts for the first half of 2025 indicate revenues between 3.214 billion CNY and 3.815 billion CNY, with net profits ranging from 494 million CNY to 583 million CNY [17].

Summary of Key Points Core Viewpoint - This week, three new stocks are available for subscription in the A-share market, including Hanbang Technology, Weigao Blood Purification, and Taili Technology [1][2]. Group 1: Hanbang Technology - Hanbang Technology is a leading company in chromatography equipment in China, with a subscription code of 787755 and an issue price of 22.77 yuan per share, with a P/E ratio of 26.35 times [3][6]. - The total number of shares issued is 22 million, with 5.28 million shares available for online subscription. The maximum subscription limit for investors is 5,000 shares, requiring a market value of 50,000 yuan in the Shanghai market [3][6]. - The company’s revenue is projected to grow from 482 million yuan in 2022 to 691 million yuan in 2024, with net profits increasing from 38.56 million yuan to 79.34 million yuan during the same period [7][10]. - Major clients include domestic pharmaceutical companies and international clients such as INTECH ANALYTICAL INSTRUMENTS and REETEC AS [7]. Group 2: Weigao Blood Purification - Weigao Blood Purification is a manufacturer of medical products for blood purification, with a subscription code of 732014. The total number of shares issued is 41.14 million, with 11.11 million shares available for online subscription [12][14]. - The company’s revenue is expected to rise from 3.426 billion yuan in 2022 to 3.604 billion yuan in 2024, with net profits increasing from 315.00 million yuan to 449.39 million yuan [12][14]. - Key clients include major pharmaceutical groups such as China National Pharmaceutical Group and China Resources Group [12]. Group 3: Taili Technology - Taili Technology focuses on new material research and vacuum technology applications, with a subscription code of 301595. The total number of shares issued is 27.07 million, with 6.90 million shares available for online subscription [17]. - The company’s revenue is projected to grow from 638 million yuan in 2022 to 1.020 billion yuan in 2024, with net profits increasing from 58.84 million yuan to 87.64 million yuan [17][18]. - Major clients include international retailers such as IKEA and Walmart, with Taili Technology being the exclusive supplier of vacuum bags for China's aerospace applications [17].

Group 1: ZERUN New Energy - ZERUN New Energy specializes in photovoltaic module junction boxes, with over 94% of its revenue derived from this segment during the reporting period [4][6][9] - The company has a significant reliance on a single customer, with over 50% of its gross profit coming from Customer A during the reporting period [8][9] - ZERUN's revenue for the years 2022, 2023, and 2024 was approximately 522 million, 844 million, and 876 million CNY, respectively, with a declining gross margin trend [9] Group 2: TIANGONG Co., Ltd. - TIANGONG Co., Ltd. focuses on the production, research, and sales of titanium and titanium alloy materials, with a significant portion of its revenue coming from wire products [11][13] - The company's revenue for the years 2022, 2023, and 2024 was approximately 383 million, 1.035 billion, and 801 million CNY, respectively, with a notable spike in 2023 due to the application of titanium in consumer electronics [15] - TIANGONG faces substantial customer dependency risks, with a significant portion of its revenue derived from a few major clients, particularly in the consumer electronics sector [15][16]