2026年开年，晨光电机、邦泽创科两家电器企业接连过会。这一态势延续了2025年四季度以来的审核加 速节奏，2025年11-12月北交所密集审议25家企业，23家企业过会。随着改革深化，北交所上市公司质 量持续提升，打新市场也热度爆棚，业内认为后续审核与发行有望持续保持高速态势。 ● 本报记者 杨洁 两家企业成功过会 北交所"IPO第一审"发生在1月5日，北京证券交易所上市委员会召开2026年第1次审议会议，审议舟山晨 光电机股份有限公司的IPO申请，当晚披露的审议结果显示，晨光电机IPO申请顺利获得通过。紧接着1 月8日，北京证券交易所上市委员会2026年第2次审议会议结果出炉，广东邦泽创科电器股份有限公司也 成功过会。 两家企业均从事电器业务，发展多年，业绩规模较大。晨光电机专业从事微特电机的研发、生产和销 售，产品主要应用于以吸尘器为主的清洁电器领域。2022年、2023年、2024年及2025年上半年，晨光电 机的营业收入分别为4.95亿元、7.12亿元、8.27亿元、4.37亿元；归母净利润分别为5827.28万元、 9933.11万元、7862.6万元、4323.56万元。 邦泽创科主要从事办公电 ...

至信股份本次发行股份总量为5666.67万股，其中，网上发行1813.30万股，申购代码732352，发行市盈 率26.85倍，申购价格21.88元，单一账户申购上限18000股。公司主营汽车冲焊件以及相关模具的开发、 加工、生产和销售。 科马材料申购代码920086，发行市盈率14.20倍，申购价格11.66元，每一个申购单位为100股，网上发行 申购上限94.14万股，申购时需足额缴付申购资金。公司主营业务为干式摩擦片及湿式纸基摩擦片的研 发、生产及销售，并致力于新型摩擦材料的开发应用。（数据宝） 证券时报·数据宝统计显示，今日（1月6日）共有2只新股申购，分别为沪市主板的至信股份，北交所的 科马材料。 1月6日新股发行明细 | 简称 | 申购代码 | 发行总量 | 网上发行量 | 申购价格 | 申购上限所需市值 | 拟募资金额 | | --- | --- | --- | --- | --- | --- | --- | | | | （万股） | （万股） | （元） | （万元） | （亿元） | | 至信股份 | 732352 | 5666.67 | 1813.30 | 21.88 | 18.00 | ...

公司简介： 1995年1月23日,重庆至信实业集团有限公司成立。 2023年8月16日,公司名称由"重庆至信实 业集团有限公司"更名为"重庆至信实业股份有限公司"。 1月6日消息，交易所公告称，至信股份今日申购，申购代码：732352，发行价格：21.88元/股，顶格申 购需配市值18.00万元。科马材料今日申购，申购代码：920086，发行价格：11.66元/股，顶格申购需配 市值1097.67万元。陕西旅游今日在上交所主板上市，公司证券代码：603402，发行市盈率为12.37倍。 【今日申购】 至信股份今日申购 顶格申购需配市值18.00万元 交易所公告，至信股份申购，申购代码：732352，本次公开发行股份5666.67万股，发行价格：21.88元/ 股，单一帐户申购上限1.80万股，顶格申购需配市值18.00万元。 主营业务：汽车冲焊件以及相关模具的开发、加工、生产和销售。 科马材料今日申购 顶格申购需配市值1097.67万元 交易所公告，科马材料申购，申购代码：920086，本次公开发行股份2092.00万股，发行价格：11.66元/ 股，单一帐户申购上限94.14万股，顶格申购需配市值1097. ...

Group 1 - The article discusses the IPO of two companies, including their issuance prices, market capitalizations, and industry comparisons [1][2][3] - The first company, ZhiXin Co., has an issuance price of 21.88 yuan, a total market value of 37.20 billion, and an issuance P/E ratio of 26.85 [2][3] - ZhiXin Co. is a major supplier for leading automotive brands such as Chang'an, Geely, and BYD, with a complete industrial chain and a significant market share in its core products [3] Group 2 - The second company, KeMa Materials, has an issuance price of 11.66 yuan and an industry P/E ratio of 14.2 [4] - KeMa Materials ranks second in the domestic dry friction plate market and has a comprehensive product range with over 8,000 models [4] - The company plans to use the raised funds for upgrading its environmentally friendly clutch friction materials technology [4] Group 3 - Another company mentioned, with an issuance price of 80.44 yuan and a total market value of 62.21 billion, focuses on tourism and cultural performances in Shaanxi province [7] - This company is recognized as a leading tourism destination operator and has a strong connection with local cultural heritage [7] - The controlling shareholder is Shaanxi Tourism Group, marking it as the first company to go public in A-shares in five years [7]

IPO Review and Registration Progress - Three companies were reviewed for IPO last week, with two successfully passing the review, while one, Guangtai Vacuum, had its application postponed [3][4] - Peicheng Technology, focused on lithium battery new energy, reported revenue of 886 million yuan and net profit of 129 million yuan for the first three quarters of 2025, marking year-on-year growth of 76.49% and 114.83% respectively [3][4] - Weitongli, specializing in electrical connection products, achieved revenue of 2.212 billion yuan and net profit of 216 million yuan in the same period [4] Upcoming IPOs - Two companies, Chenguang Electric and Banzhe Chuangke, are set to undergo IPO reviews this week, with Chenguang Electric aiming to raise 399 million yuan [5][6] - Chenguang Electric projects a revenue of 918 million to 928 million yuan for 2025, reflecting a year-on-year growth of 11.05% to 12.26% [5] - Banzhe Chuangke anticipates a revenue of 1.76 billion to 1.82 billion yuan for 2025, with a growth rate of 16.57% to 20.55% [6] Recent IPO Activity - A surge in IPO applications was noted at the end of 2025, with 58 applications accepted, including 40 from the Beijing Stock Exchange [7][9] - Companies like Dachang Technology and Yan'an Pharmaceutical are attempting to reapply for IPOs after previous rejections [7][8] - Dongguan Bank and Nanhai Rural Commercial Bank have resumed their IPO processes after their statuses changed from "suspended" to "accepted" [9] New Stock Listings and Performance - Shaanxi Tourism is set to list on the Shanghai Main Board, with an expected revenue of 951 million to 1.117 billion yuan for 2025, indicating a decline of 24.69% to 11.54% [10] - The stock of Hengdongguang surged by 878.16% on its first trading day, closing at 309 yuan per share [10][11] - Strongyi Co., which focuses on semiconductor testing hardware, saw its stock rise by 165.61% on its debut, closing at 226.01 yuan per share [11] Upcoming New Stock Subscriptions - Two new stocks, Kema Materials and Zhixin Co., are scheduled for subscription, with respective issue prices of 11.66 yuan and 21.88 yuan [12] - Kema Materials expects a revenue of 250 million to 280 million yuan for 2025, while Zhixin Co. anticipates 3.9 billion to 4.05 billion yuan, reflecting growth rates of 0.39% to 12.44% and 26.30% to 31.16% respectively [12]

Group 1 - Major market indices opened higher on the first trading day of 2026, with electronics and media sectors rising over 2%, while pharmaceuticals and non-bank financials also showed strong gains [1] - The brain-computer interface (BCI) concept surged, with the index rising over 10%, leading to a wave of stock price increases, including a 30% limit up for BeiYikang and 20% limit ups for Sanbo Brain Science, Meihao Medical, and Aipeng Medical [2] - Elon Musk announced that his BCI company Neuralink will start large-scale BCI output in 2026, planning to shift towards nearly fully automated surgeries [3] Group 2 - Open Source Securities reported that Neuralink's expectations for scaled production and automated surgical solutions signify a transition from clinical validation to commercial scalability for brain-computer interfaces [4] - Companies with positive earnings forecasts for 2025 have performed well, with C Strong rising over 10% and Salt Lake Shares and Ocean Biological both increasing over 7%. Over 40 companies have released earnings forecasts, with many expecting profit increases, including Transfar Zhilian, Baiao Saitu, and Tianci Materials, all projecting profit growth exceeding 100% [5] - Ocean Biological expects a net profit growth of 50.6% to 72.56 million for 2025 [5] Group 3 - Two new stocks are available for subscription this week, including Zhixin Co., which specializes in automotive welding parts and has become a primary supplier for major automotive manufacturers [7] - Kema Materials focuses on the research, production, and sales of dry friction plates and wet paper-based friction plates, aiming to develop new friction materials [8] Group 4 - As of December 31, 2025, the market's financing balance totaled 2.52 trillion, a decrease of 143.69 billion from the previous trading day [9] - 349 stocks received net financing purchases exceeding 10 million, with 34 stocks having net purchases over 1 billion [10] - China Satellite topped the list with a net purchase of 1.194 billion, followed by Xinwei Communication and Aerospace Electronics with net purchases of 525 million and 499 million, respectively [11]

2026年A股第一批新股来了！ 根据发行安排，本周（1月5日—1月9日），A股市场将有2只新股申购，为沪市主板的至信股份和北交 所的科马材料，两股均将于本周二开启申购。 资料显示，至信股份深耕汽车冲焊件领域，公司是比亚迪、长城汽车、零跑汽车等知名整车制造厂商的 一级供应商；科马材料深耕传动摩擦材料行业，公司干式摩擦片国内市场份额排名第二位。 具体来看，至信股份单一账户申购上限为18000股，顶格申购需持沪市市值18万元。 2022年度—2024年度，公司实现营业收入分别为2.02亿元、1.99亿元、2.49亿元，归属于母公司所有者 的净利润为0.42亿元、0.5亿元、0.72亿元。 招股书显示，至信股份成立于1995年，总部位于重庆市，在全国建有10余家生产制造基地。经过三十余 年的发展，公司已成为我国西南地区生产规模较大、综合竞争实力较强的民营汽车零部件生产企业，业 务范围涵盖汽车冲焊件以及相关模具的开发、加工、生产和销售。公司拥有资深研发团队，旗下拥有专 业从事模具开发制造的全资子公司大江至信和专业从事工业机器人智能制造解决方案的全资子公司衍数 自动化，从始端的模具开发、到生产线自动化集成，公司实现了研发 ...

2026年A股第一批新股来了！ 根据发行安排，本周（1月5日—1月9日），A股市场将有2只新股申购，为沪市主板的至信 股份和北交所的科马材料，两股均将于本周二开启申购。 资料显示，至信股份深耕汽车冲焊件领域，公司是比亚迪、长城汽车、零跑汽车等知名整车 制造厂商的一级供应商；科马材料深耕传动摩擦材料行业，公司干式摩擦片国内市场份额排 名第二位。 具体来看，至信股份单一账户申购上限为18000股，顶格申购需持沪市市值18万元。 招股书显示，至信股份成立于1995年，总部位于重庆市，在全国建有10余家生产制造基地。 经过三十余年的发展，公司已成为我国西南地区生产规模较大、综合竞争实力较强的民营汽 车零部件生产企业，业务范围涵盖汽车冲焊件以及相关模具的开发、加工、生产和销售。公 司拥有资深研发团队，旗下拥有专业从事模具开发制造的全资子公司大江至信和专业从事工 业机器人智能制造解决方案的全资子公司衍数自动化，从始端的模具开发、到生产线自动化 集成，公司实现了研发制造的完整产业链建设。通过多年积累，公司在市场上形成了产品优 势，已成为长安汽车、吉利汽车、长安福特、蔚来汽车、理想汽车、比亚迪、长城汽车、零 跑汽车等知名整车 ...

申 购 策 略 证 券 研 究 报 告 证券分析师 刘靖 A0230512070005 liujing@swsresearch.com 郑菁华 A0230525060001 zhengjh@swsresearch.com 研究支持 郑菁华 A0230525060001 zhengjh@swsresearch.com 联系人 郑菁华 A0230525060001 zhengjh@swsresearch.com 本研究报告仅通过邮件提供给 博时基金 博时基金管理有限公司(researchreport@bosera.com) 使用。1 2026 年 01 月 04 日 科马材料（920086）：干式摩擦片 "小巨人" ——北交所新股申购策略报告之一百五十四 策 略 研 究 请务必仔细阅读正文之后的各项信息披露与声明 相关研究 - ⚫ 基本面：干式摩擦片"小巨人"。公司 2002 年成立，总部位于浙江丽水，主要从事干式 摩擦片及湿式纸基摩擦片的研发、生产及销售，主要产品为干式摩擦片及湿式纸基摩擦 片。坚持自主研发，积极推进技术创新。公司始终坚持自主研发和技术创新，长期致力于 传动摩擦材料的研发，不断增强技术实力。公司 ...

Group 1: New IPOs Overview - Two new stocks are set to be available for subscription next week, including a major supplier in the automotive welding parts sector and a "hidden champion" in dry friction materials [1][3] - The upcoming IPOs are expected to attract investor interest due to ongoing market catalysts and the approaching annual report forecast season, which may enhance buying momentum [1] Group 2: Company Profiles Zhixin Co., Ltd. - Zhixin Co., Ltd. is a significant private manufacturer of automotive welding parts in Southwest China, with a strong competitive position and a rich project reserve [1][5] - Major clients include well-known automotive manufacturers such as Changan Automobile, Geely, NIO, and BYD, as well as parts manufacturers like CATL and Valeo [1] - The company anticipates a net profit of between 255 million to 265 million yuan for 2025, representing a year-on-year growth of 25.02% to 29.92% [5][6] Koma Materials - Koma Materials specializes in the research, production, and sales of dry friction plates and has established long-term partnerships with major clutch manufacturers [2][8] - The company is expanding its market presence in the new energy hybrid vehicle sector, with its products already integrated into several well-known hybrid models [2] - Koma Materials projects a net profit of 82 million to 96 million yuan for 2025, with a year-on-year growth of 14.63% to 34.21% [8]