Core Viewpoint - The A-share market experienced a narrow fluctuation today, with certain sectors such as electricity, CXO, and vitamins showing strength despite the overall market trend [2][6]. Group 1: Market Performance - The A-share market showed a slight decline, with the Shanghai Composite Index down 0.1%, the Shenzhen Component down 0.66%, the North Star 50 Index down 2.8%, and the ChiNext Index down 0.68% [6]. - The electricity sector performed well, with stocks like Huayin Power, Xichang Power, and Chenzhou International reaching their daily limit up [7][8]. - New stocks listed today saw significant gains, with Jiangshun Technology's intraday increase exceeding 120% [3][15]. Group 2: Sector Highlights - The electricity sector saw notable gains, with multiple stocks experiencing significant increases, including Huayin Power at 10% up, Xichang Power at 9.97% up, and Chenzhou International at 9.95% up [8]. - The CXO sector also showed strong performance, with Jin Kai Sheng Ke hitting the daily limit up and other stocks like Hehua Co., Kailai Ying A-shares, and Lingkang Pharmaceutical also reaching their limits [10]. - The vitamin sector demonstrated a clear upward trend, contributing to the overall strength of the market [8]. Group 3: New Stock Listings - Two new stocks were listed today, both experiencing substantial increases, with Jiangshun Technology's stock price rising significantly [14][15]. - Tian You Wei, another new stock, saw its price increase by nearly 50% during the trading session [16]. Group 4: Hong Kong Market - The Hong Kong market experienced a decline, with the Hang Seng Index dropping over 1% [17][19]. - Despite the overall downturn, stocks like New Oriental saw significant gains, with an intraday increase exceeding 6% following the release of their financial results [20].

Market Performance - On April 23, 2025, A-shares showed mixed results with the Shanghai Composite Index down 0.1% at 3296.36 points, while the Shenzhen Component Index rose 0.67% to 9935.8 points and the ChiNext Index increased by 1.08% to 1949.16 points. The total trading volume in the Shanghai and Shenzhen markets was 12,297 billion yuan, an increase of 1,397 billion yuan from the previous trading day [1] - Hong Kong stocks collectively rose, with the Hang Seng Index up 2.37% or 510.30 points, closing at 22,072.62 points, and the Hang Seng Technology Index increasing by 3.07% to 5049.4 points. The total trading volume was 2,606.19 billion HKD [1] - U.S. stock indices also saw gains, with the Dow Jones up 1.07% at 39,606.57 points, the Nasdaq rising 2.50% to 16,708.05 points, and the S&P 500 increasing by 1.67% to 5,375.85 points [1] New Stock Listings - Jiangshun Technology, with a stock code of 001400, was listed at an issuance price of 37.36 billion yuan and a price-to-earnings ratio of 15.32 times. The company specializes in the research, design, production, and sales of aluminum profile extrusion molds and related equipment [3] - Tianyouwei, with a stock code of 603202, was listed at a price of 93.5 yuan per share and a price-to-earnings ratio of 13.5 times. The company focuses on the research, design, production, and sales of automotive instruments and is expanding into the smart cockpit sector [3] Industry Developments - The Greater Bay Area (Dongguan) Artificial Intelligence Alliance was established on April 23, 2025, led by Huawei, OPPO, and vivo, along with 18 other significant entities. The alliance aims to utilize over 10,000P of intelligent computing power by 2027 and develop over 100 AI+ advanced manufacturing demonstration applications [4] - In the first quarter of 2025, the average rent for residential properties in 50 cities in China decreased by 0.44%. The average rent was 35.3 yuan per square meter per month in March, reflecting a year-on-year decline of 3.40% [4] Regulatory Actions - The European Union imposed its first fines under the Digital Markets Act, totaling 700 million euros (approximately 798 million USD) against Apple and Meta for antitrust violations. Apple was fined 500 million euros, while Meta received a 200 million euro fine [5]

Core Viewpoint - The article highlights the continued success of new stock subscriptions in the current volatile global environment, providing investors with a seemingly risk-free opportunity to profit from new listings [2][5]. Group 1: New Stock Performance - Three new stocks listed recently achieved impressive gains, with all showing increases of over 230%, and an average profit of over 15,000 yuan per subscription [5][9]. - China Ruilin, listed on April 8, had an initial price of 20.52 yuan per share, closing at 99.90 yuan on the first day, resulting in a first-day gain of 237.07% and a potential profit of 24,325 yuan per subscription [5][6]. - The highest intraday price for China Ruilin reached 165 yuan, allowing for a maximum profit of 72,200 yuan if sold at that peak [6]. Group 2: Upcoming New Stocks - Three companies are set to go public from April 14 to April 18, with investors anticipating potential gains [3]. - Tianyouwei, a company focused on automotive instrument development, will open for subscription on April 14, with a high customer concentration, particularly with Hyundai [12][13]. - The company has maintained a gross profit margin above 30% over the past three years, significantly higher than industry peers [14]. Group 3: Financial Performance of Companies - Tianyouwei's projected revenues for 2022 to 2024 are approximately 1.972 billion yuan, 3.437 billion yuan, and 4.465 billion yuan, with year-on-year growth rates of 68.93%, 74.27%, and 29.90% respectively [16]. - Another automotive parts company, Zhongjie Automotive, will open for subscription on April 15, with a high percentage of overseas sales [19]. - Zhongjie Automotive's revenue growth from 2022 to 2024 is expected to be 20.20%, 15.25%, and 19.00%, with net profits growing at 60.25%, 5.35%, and 15.45% respectively [22]. Group 4: Challenges and Concerns - Jiangshun Technology, set to list on April 15, has faced scrutiny regarding its financial practices, including high dividend payouts while maintaining a high debt ratio [25][26]. - The company has reported gross profit margins of 38.63%, 38.99%, and 39.09% from 2022 to 2024, but has indicated risks associated with sustaining these margins [26].

本周将有3只新股申购。 本周（4月14日—4月18日），A股市场将有3只新股申购，为沪市主板的天有为、深市主板的江顺科技 和创业板的众捷汽车，3股分别将于本周一和周二开启申购。值得注意的是，天有为发行价高达93.5元/ 股，为目前A股市场年内发行价最高的新股。 资料显示，天有为是业内领先的汽车仪表盘供应商，公司客户包括比亚迪、长安汽车、一汽奔腾、奇瑞 集团等；江顺科技是国内铝型材挤压模具及挤压配套设备行业内的领先企业，众捷汽车是全球领先的汽 车热管理系统精密加工零部件供应商。 公司通过长期业务发展，具备了为汽车整车厂商同步研发及批量供货能力，积累了多家国内外知名汽车 整车厂商及汽车零部件供应商客户，主要包括现代汽车集团（包括其下属现代汽车、起亚汽车、现代摩 比斯等）、比亚迪、长安汽车、一汽奔腾、奇瑞集团、上汽通用五菱、HyolimXE、长信科技、吉利集 团、北京现代、悦达起亚、宝腾汽车、鑫源汽车、福田汽车、庆铃汽车、江淮汽车、神龙汽车、凯翼汽 车等。 2022年度—2024年度，公司实现营业收入分别为19.72亿元、34.37亿元、44.65亿元，归属于母公司股东 的净利润分别为3.97亿元、8.42亿元、1 ...

【导读】本周有3只新股可申购，天有为、众捷汽车均是比亚迪供应商 中国基金报记者闻言 A股打新投资者注意啦！ 根据目前发行安排，本周有3只新股可申购。具体来看，4月14日可申购上交所主板新股天有为，4月15日可分别申购深交所主板新股江 顺科技、创业板新股众捷汽车。 天有为客户包含比亚迪 天有为的申购代码为732202，发行价为93.50元/股，发行市盈率为13.50倍，参考行业市盈率为27.16倍。 天有为此次总发行数量为4000万股，包含网上发行数量为1280万股。投资者参与网上申购天有为，申购数量上限为1.25万股，顶格申购 需配沪市市值为12.50万元。 天有为主要从事汽车仪表的研发设计、生产、销售和服务，并逐步向智能座舱领域拓展，主要产品包括电子式组合仪表、全液晶组合仪 表、双联屏仪表及其他汽车电子产品与服务。 目前，天有为具备为汽车整车厂商同步研发及批量供货的能力，国内外知名车企和汽车零部件供应商客户包含现代汽车集团、比亚迪、 长安汽车、一汽奔腾、奇瑞集团、上汽通用五菱、吉利集团、北京现代、江淮汽车等。 2022年至2024年，天有为的营业收入分别为19.72亿元、34.37亿元、44.65亿元，归母 ...