Group 1 - The North Exchange 50 Index and the Specialized and Innovative Index will undergo adjustments on December 15, 2025, with the North Exchange 50 Index experiencing its fourth adjustment and the Specialized and Innovative Index its first adjustment [10][12][15] - The North Exchange 50 Index closed at 1,522.73 points, reflecting a weekly decline of 3.79%, while the Specialized and Innovative Index closed at 2,532.06 points, down 5.43% [31][32] - The report emphasizes the importance of focusing on high-quality stocks and technology growth within the North Exchange 50 components, particularly those that have undergone significant price adjustments [3][42] Group 2 - The report identifies potential new additions to the North Exchange 50 Index, including companies such as Kaifa Technology, Gobika, and Wantong Hydraulic, with a focus on their average market capitalization and trading volume [12][13] - The North Exchange Specialized and Innovative Index is expected to include companies like Star Map Measurement and Senxuan Pharmaceutical, highlighting their market performance and growth potential [15][16] - The report suggests that the North Exchange's valuation structure shows a significant number of companies with high P/E ratios, indicating a potential investment opportunity in undervalued stocks [21][36][41] Group 3 - The report indicates that the average P/E ratio for key sectors such as high-end equipment, information technology, and chemical new materials are 42.83X, 91.31X, and 48.18X respectively, suggesting varying levels of valuation across industries [36][41] - The North Exchange's market performance shows a decline in trading volume, with an average daily turnover of 230.88 billion yuan, down 20.36% from the previous week [26][30] - The report highlights the importance of monitoring companies with strong quarterly performance and reasonable valuations as the North Exchange approaches its index adjustments [42][43]

Core Insights - Recently, a new company named Shabei Future (Shenzhen) Technology Partnership (Limited Partnership) was established with a registered capital of 2 million RMB [1] Company Overview - The company operates in various sectors including wholesale and retail of jewelry and accessories, art and collectibles appraisal services, and internet sales [1] - It also engages in technology services, daily necessities sales, brand management, and market marketing planning [1] Business Scope - The general business scope includes: - Wholesale and retail of jewelry and accessories - Appraisal services for art and collectibles - Retail and wholesale of crafts and artworks (excluding ivory and its products) - Internet sales (excluding items requiring licenses) - Technology services, development, consulting, and promotion [1] - The company has no licensed business projects [1]

Core Viewpoint - Recently, Aoheng Technology (Tengzhou) Co., Ltd. was established with a registered capital of 3 million RMB, indicating a focus on various technology and manufacturing sectors [1] Company Overview - The legal representative of Aoheng Technology is Li Shizhou [1] - The registered capital of the company is 3 million RMB [1] Business Scope - The company operates in several areas including: - Technical services, development, consulting, exchange, transfer, and promotion [1] - New materials technology research and development [1] - Processing of fur products and manufacturing of leather products [1] - Manufacturing and sales of specialized equipment for processing leather and fur [1] - Sales of leather products and leather [1] - Repair services for shoes and leather [1] - Acquisition of livestock and poultry [1] - Sales of industrial animal oil chemicals and primary agricultural products [1] - Operation of centralized fast charging stations and electric vehicle charging infrastructure [1]

Core Viewpoint - Anqing Xinxing Shicheng Technology Co., Ltd. has been established with a registered capital of 100,000 RMB, indicating a new player in the technology and retail sectors [1] Company Overview - The company is represented by Wang Xin as the legal representative [1] - The registered capital is 100,000 RMB [1] Business Scope - The company engages in a wide range of activities including: - Technology services, development, consulting, exchange, transfer, and promotion [1] - Retail of daily necessities, clothing accessories, and various consumer goods [1] - Sales of building materials, plastic products, and outdoor supplies [1] - Retail of musical instruments and related components [1] - Sales of fresh fruits, sports equipment, and pet food [1] - Provision of personal hygiene products and disposable medical supplies [1] - Internet sales and personal business services [1] - Automotive parts wholesale and retail [1]

Core Viewpoint - Chengdu Yaoxian Bo Cai Technology Co., Ltd. has been established with a registered capital of 3 million RMB, indicating a focus on technology services and automotive components manufacturing [1] Company Overview - The legal representative of the company is Zhu Yiming [1] - The registered capital of the company is 3 million RMB [1] Business Scope - The company operates in various sectors including: - Technology services, development, consulting, exchange, transfer, and promotion [1] - Manufacturing of automotive parts and general components [1] - Processing and sales of mechanical parts and components [1] - Automotive sales and motorcycle parts retail [1] - Information technology consulting and system maintenance services [1] - Retail of daily necessities and hardware products [1] - Motor vehicle repair and maintenance [1] - Business agency and electronic product sales [1]

Core Viewpoint - Tangshan Erkun Technology Co., Ltd. has been established with a registered capital of 100,000 RMB, focusing on various technology services and sales in the construction materials sector [1] Group 1: Company Overview - The legal representative of Tangshan Erkun Technology Co., Ltd. is Zhang Hongying [1] - The company has a registered capital of 100,000 RMB [1] Group 2: Business Scope - The business scope includes technology services, development, consulting, exchange, transfer, and promotion [1] - The company is involved in the sales of various construction materials, including lightweight building materials, building blocks, and ceramic products [1] - Additional sales activities include insulation materials, refractory materials, cement products, and metal ores [1] - The company also engages in the retail of daily necessities, office equipment, and hardware products [1]

Core Viewpoint - A new company, Tangshan Fengnan District Senxu Technology Co., Ltd., has been established with a registered capital of 800,000 RMB, focusing on various technical services and sales in multiple sectors [1] Company Summary - The legal representative of the newly established company is Zhao Guohui [1] - The registered capital of the company is 800,000 RMB [1] - The company’s business scope includes general projects such as technical services, development, consulting, and sales of valves, machinery, hardware products, and various materials [1] Industry Summary - The company operates in diverse sectors including environmental protection equipment, chemical products (excluding licensed chemicals), textiles, metal and non-metal materials, construction materials, and electrical equipment [1] - The company is also involved in construction engineering, which requires approval from relevant authorities before operations can commence [1]

Core Viewpoint - Shanghai Yizhi Technology Development Co., Ltd. has been established with a registered capital of 2 million RMB, focusing on various technology and automotive services [1] Company Overview - The legal representative of the company is Shao Qianfen [1] - The registered capital of the company is 2 million RMB [1] Business Scope - The company engages in a wide range of activities including technology services, development, consulting, and transfer [1] - It is involved in import and export activities, including technology and goods [1] - The company also focuses on automotive-related services such as wholesale of auto parts, sales of new energy vehicles, and automotive decoration products [1] - Additional services include sales of electronic components, mechanical equipment, and various materials [1] - The company provides internet data services, digital cultural creative content applications, and professional design services [1] - It is authorized to conduct second-class value-added telecommunications business and internet live broadcast technology services, subject to approval [1]

Core Viewpoint - Heilongjiang Yupan Technology Co., Ltd. has been established with a registered capital of 100,000 RMB, indicating a new player in the food and technology sectors [1] Company Overview - The legal representative of the company is Wang Feng [1] - The company is involved in various business activities including food sales, alcohol sales, and road cargo transportation (excluding hazardous goods) [1] Business Scope - The company’s licensed projects include food sales and alcohol management, which require approval from relevant authorities before operations can commence [1] - General business activities encompass technology services, development, consulting, and promotion, as well as various sales including pre-packaged food, agricultural products, and daily necessities [1] - Specific sales activities include wholesale and retail of fresh vegetables and fruits, grain acquisition, and electronic product sales [1]

Core Viewpoint - Fengcheng Youze Footwear Co., Ltd. has been established with a registered capital of 30,000 RMB, indicating a new player in the footwear and related retail market [1] Company Overview - The legal representative of Fengcheng Youze Footwear Co., Ltd. is Zhu Guihong [1] - The company is registered with a capital of 30,000 RMB [1] Business Scope - The business scope includes general projects such as internet sales (excluding goods requiring permits), wholesale and retail of footwear and hats, and sales of clothing accessories [1] - Additional services include information consulting (excluding licensed consulting services), technical services, development, consulting, exchange, transfer, and promotion [1] - The company also engages in wholesale and retail of cosmetics, daily miscellaneous goods, electronic products, bicycles and spare parts, daily household appliances, pet food and supplies, stationery, sports goods and equipment, bags, office supplies, and maternal and infant products [1]