Group 1 - The report emphasizes the normalization of the Beijing Stock Exchange (BSE) issuance, focusing on seven key indicators and a five-dimensional quantitative model to identify high-quality stocks for investment opportunities [3][11][19] - The seven indicators include net assets, market capitalization, net profit attributable to the parent company, return on equity (ROE), revenue growth rate, R&D investment, and revenue proportion, which cover aspects of scale, profitability, growth, and innovation [3][12][20] - The five-dimensional model assesses industry prosperity, company competitiveness, financial health, market scarcity, and risk controllability to filter for "high growth, high barrier, and high scarcity" companies on the BSE [19][20] Group 2 - As of October 10, 2025, a total of 39 new stocks have been successfully listed on the BSE since 2024, with an average net asset of 619 million yuan and an average first-day market capitalization of 3.573 billion yuan [11][12] - The average revenue for these companies in 2024 was 743 million yuan, with an average net profit of 92 million yuan and an average ROE of 17.89% [12][13] - The report identifies seven high-quality companies currently in the second round of inquiries and not yet approved for listing, including JieLi Technology, JinTai Co., MiRui Technology, DingLi Technology, YuanLi Digital, ShangHang Technology, and HaiFeiMan [3][21][24] Group 3 - The BSE 50 Index closed at 1,506.91 points with a TTM PE of 70.79X, while the specialized and innovative index reported 2,596.13 points with a TTM PE of 80.25X [4][31][36] - The average daily trading volume for BSE A-shares reached 19.338 billion yuan, reflecting a 16.39% increase from the previous week, with a daily turnover rate of 4.21% [4][28][30] - The report highlights the performance of various sectors, indicating that high-end equipment, information technology, new chemical materials, consumer services, and pharmaceutical biology sectors have varying TTM PEs, suggesting a focus on technology growth and undervalued stocks [4][26][31]

Core Viewpoint - The company, Chaoyang Jinda Titanium Industry Co., Ltd. (referred to as "Jintai Co."), has received a second round inquiry letter from the Beijing Stock Exchange regarding its application for public stock issuance and listing, raising concerns about revenue verification, performance decline risks, and other operational aspects [1] Group 1: Company Overview - Jintai Co. is primarily engaged in the research, production, and sales of sponge titanium series products, positioning itself as a high-tech enterprise [1] - The company has over a decade of experience in high-end sponge titanium products and has established itself as a leading domestic and internationally recognized production base in this sector [1] - Jintai Co. is a core member of the titanium industry supply chain in China [1] Group 2: Regulatory Concerns - The inquiry letter from the Beijing Stock Exchange addresses several issues, including the sufficiency of revenue verification and risks associated with declining performance [1] - Additional concerns include the verification of significant fixed asset additions, accuracy of cost accounting, and the lack of a hazardous chemical safety production license [1] - The company is also required to clarify its capacity utilization and the impact of fixed asset depreciation, as well as the accuracy of research and development expense accounting and the differences in gross margin compared to peer companies [1]