Core Viewpoint - Baoji City, as the second largest city in Shaanxi Province and a significant industrial base in the western region, has achieved remarkable progress in economic development and industrial transformation through innovation-driven strategies, particularly in the titanium industry, which is globally leading in scale [1][16]. Group 1: Economic Performance - In 2024, Baoji's GDP grew by 5.6% year-on-year, with the primary industry increasing by 2.7%, the secondary industry by 5.4%, and the tertiary industry by 5.8%, indicating a stable and positive economic trend [4][5]. - The industrial economy maintained strong growth in early 2025, with a 9.4% year-on-year increase in industrial added value, driven significantly by mining (+13.7%) and manufacturing (+10.7%) [8][10]. Group 2: Industrial Development - Baoji has established a modern industrial system characterized by the "45511" framework, focusing on four trillion-level advantageous industries and five hundred billion-level emerging industries [1][16]. - The "Baohan Tian Industrial Mother Machine Cluster" was recognized as a national advanced manufacturing cluster, contributing to Baoji's entry into the "Top 100 Advanced Manufacturing Cities" in China, ranking 84th [1][16]. Group 3: New Quality Productive Forces - The concept of New Quality Productive Forces emphasizes innovation as the main driving force, aiming to break away from traditional economic growth models and enhance productivity with high-tech, high-efficiency, and high-quality characteristics [3][12]. - Baoji's policies have been aligned with the New Quality Productive Forces framework, promoting high-quality development through various measures and initiatives [12][14]. Group 4: Industry Space Layout - Baoji's industrial spatial layout is designed around a "core leading, three belts coordinating, and multi-point supporting" model, integrating urban development with ecological protection and industrial cluster development [18][20]. - The city is focusing on strategic emerging industries such as high-end equipment manufacturing, automotive parts, and new materials, while also enhancing its agricultural and ecological sectors [22][20]. Group 5: Future Development Trends - The future development of Baoji's new quality productive forces will focus on the deep integration of high-end and intelligent manufacturing, enhancing the value chain and core competitiveness [25]. - There is an emphasis on cultivating strategic emerging industries and future industries, such as artificial intelligence and hydrogen energy equipment, to create new economic growth points [26]. - Baoji aims to promote green low-carbon development and strengthen regional cooperation to achieve sustainable economic, social, and environmental development [27].

截至2025年5月18日，北交所挂牌公司共266家，总股本364.98亿股，流通股本230.96亿股。 从成交量上来看，上周（5月12日-5月18日），北交所周成交量为80.72亿股，环比上周增加42.28%；周成交金额为1734.88亿元，环比上周增加39.35%。 | 项目 | 本周 | 比上周增减 (%) | 本年累计 | | --- | --- | --- | --- | | 成交数量(万股) | 807219.98 | 42.28% | 12136510.67 | | 成交金额(万元) | 17348786.06 | 39.35% | 255117957.75 | | 成交均价 (元) | 21.49 | -2.06% | 21.02 | 上周（5月12日-5月18日)，北证50指数周涨3.13%至1422.43点。北证50成分股中，25只上涨，0只平盘，25只下跌。 其中，国航远洋（833171）涨幅居首，上涨89.30%，森萱医药（830946）居次，上涨25.85%。星辰科技（832885）跌幅居首，下跌9.54%，创远信科 （831961）居次，下跌6.38%。 新股发行方面，5月12日-5 ...

2025 年 05 月 19 日 北交所行业研究 天工股份正式上市 ——北交所行业周报 | 行业相对表现 | | | 2025/05/16 | | | --- | --- | --- | --- | --- | | 表现 | | 1M | 3M | 12M | | 北证 | 50 | 8.90% | 15.56% | 79.80% | | 沪深 | 300 | 3.40% | -1.27% | 7.25% | 相关报告 《北交所行业周报：本周北证 50 实现领涨、交投 活跃度明显提升，下周天工股份上市（推荐）*中 小盘*罗琨》——2025-05-12 《北交所行业周报：本周北证 50 小幅回调，下周 天工 股份申购 （推荐）* 中小 盘* 罗琨 》—— 2025-04-28 研究所： 证券分析师： 罗琨 S0350522110003 luok@ghzq.com.cn 联系人 ： 禹露 S0350124070012 yul06@ghzq.com.cn [Table_Title] 本周北证 50 继续领涨，交投活跃度持续上升， 《北交所行业周报：本周北证 50 涨幅延续、交易 放缓，交大铁发提交注册（推荐）*中小 ...

中国经济网北京5月13日讯今日，江苏天工科技股份有限公司(证券简称：天工股份，证券代码：920068.BJ)在北交所上市。该股开 盘报22.01元，截至收盘报20.17元，涨幅411.93%，成交额10.76亿元，振幅92.89%，换手率80.44%，总市值130.42亿元。 1.请发行人就以下事项进一步完善信息披露：(1)盈利实现数未达盈利预测的补偿承诺及保障措施。(2)2024年上半年线材收入下滑的 具体原因。 审议会议提出问询的主要问题： 1.关于发行人期后收入下滑。请发行人：(1)列示2023年7月至9月和2024年7月至9月线材销量及同比变动情况，说明线材销量变化的 原因，客户对消费电子用线材在ESG方面提出更高要求对线材销售的影响是否持续到2024年下半年。(2)结合客户对ESG方面提出更 高要求、下游消费电子领域市场需求等情况，说明发行人2024年以来线材销量下滑是否为经营环境变化所致。(3)如经营环境发生 变化，说明变化的时间节点、趋势方向及对发行人的具体影响及正在采取或拟采取的改善措施。(4)结合盈利预测情况，说明销量 和收入下滑趋势是否扭转，是否仍存在对持续经营能力产生重大不利影响的事项。 ...

【导读】银行、服饰表现活跃，N天工盘中大涨499% 中国基金报记者晨曦 | 全A | 涨 1714 平 221 | 跌 3475 | A股成交额 | | | --- | --- | --- | --- | --- | | 序号 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | 1 - | 000001 上证指数 | 3371.86 | 2.61 | 0.08% | | വ | 399001 深证成指 | 10276.61 | -24.54 | -0.24% | | 3 | 899050 北证50 | 1413.93 | -5.20 | -0.37% | | 4 | 881001 万得全A | 5128.04 | -8.74 | -0.17% | | ട | 000688 转到20 | 1010.03 | -1.20 | -0.12% | | 6 | 399006 创业板指 | 2059.88 | -4.83 | -0.23% | | 7 | 000300 沪深300 | 3891.63 | 1.02 | 0.03% | | 8 | 000905 中证500 | 5774.99 | -18.69 | -0 ...

A股主要指数涨跌不一多只银行股复权价创历史新高 5月13日，A股三大股指早盘巨震，深证成指、创业板指盘中双双翻绿。截至中午收盘，上证指数上涨0.08%，深证成指下跌0.24%，创业板指下跌0.23%。 行业板块和赛道方面，若按照申万一级行业划分，银行板块领涨，板块盘中涨幅超过1%，浦发银行、上海银行、江苏银行等多只银行股复权价创历史新 高，重庆银行、中信银行、青农商行、苏州银行、成都银行等跟涨。 ■ 分时 1分钟 5分钟 15分钟 30分钟 60分钟 日线 周线 月线 多周期 更多 > 复权 叠加 多股 统计 画线 标记 +自选 返回 浦发银行 600000 L R 300 浦发银行 (日线.前复权) ◎ MA5: 11.71 MA10: 11.29 MA20: 10.92 MA60: 10.52 MA120: 10.23 MA250: 9 12.06 0.35 2.99% 12.00 12.07 买 卖 撤 10.0 12.10 71 载 卖g 12.09 52 12.08 60 型- 8.00 12.07 34 re 10 壶- 12.06 民 12.05 8 6.00 12.04 22 买一 买三 12 ...

5月13日，A股三大股指集体高开，深证成指高开近1%，创业板指涨超1%，盘中深证成指、创业板指双双翻绿，上证指数涨幅亦收窄。 银行板块温和走强，若按照复权价计，多只银行股股价创历史新高。另外，A股市场多只航运股盘中大幅走强。 港股市场今天上午整体走低，医药生物板块逆势大涨，成为上午港股市场主要亮点之一。 A股主要指数涨跌不一多只银行股复权价创历史新高 5月13日，A股三大股指早盘巨震，深证成指、创业板指盘中双双翻绿。截至中午收盘，上证指数上涨0.08%，深证成指下跌0.24%，创业板指下跌0.23%。 | 行情 | 资金净流入 | 涨跌分布 | | --- | --- | --- | | 上证指数 | 深证成指 | 北证50 | | 3371.86 | 10276.61 | 1413.93 | | +2.61 +0.08% -24.54 -0.24% | | -5.20 -0.37% | | 科创50 | 创业板指 | 万得全A | | 1010.03 | 2059.88 | 5128.04 | | -1.20 -0.12% -4.83 -0.23% -8.74 -0.17% | | | | 沪深300 | ...

Core Viewpoint - Jiangsu Tiangong Technology Co., Ltd. (Tiangong Co.) has become the first company to list on the Beijing Stock Exchange (BSE) as a "H-share A-share" company and has the lowest issuance price of new shares this year, with a significant opening price increase of 458.63% on its first trading day [1][2]. Group 1: Company Overview - Tiangong Co. specializes in the research, production, and sales of titanium and titanium alloy materials, utilizing sponge titanium and other metal elements through various processing techniques to create high-performance products [5]. - The company raised funds primarily for the construction of a production line with an annual capacity of 3,000 tons of high-end titanium and titanium alloy rods and wires to meet market demands in consumer electronics, aerospace, and medical devices [5]. Group 2: Financial Performance - In 2023, Tiangong Co. achieved a revenue of 1.035 billion yuan, a year-on-year increase of 170.05%, and a net profit attributable to shareholders of 170 million yuan, up 142.57% [5]. - However, in 2024, the company experienced revenue fluctuations, reporting 801 million yuan, a year-on-year decrease of 22.59%, while the net profit attributable to shareholders was 172 million yuan, a slight increase of 1.57% [5]. - For the first quarter of 2025, Tiangong Co. reported an unaudited revenue of 192 million yuan, a year-on-year increase of 4.35% [5]. Group 3: Market Context and Strategic Placement - The issuance price of Tiangong Co. was 3.94 yuan per share, with a price-to-earnings ratio of 14.98, marking it as the lowest issuance price for new shares this year [2]. - The public offering attracted 425,400 participants, with 117,500 ultimately receiving allocations, resulting in a total allocation of 51 million shares and an investment amount of 201 million yuan [2]. - The strategic placement involved 12 investors, with a lock-up period exceeding the minimum requirement, indicating strong institutional confidence in the company's long-term prospects [2][3].

5月13日，江苏天工科技股份有限公司（以下简称"天工股份"）登陆北交所，成为2025年江苏首家新增 北交所上市公司，同时还是港股公司"H拆A"登陆北交所第一股。 天工股份董事长、"80后"朱泽峰在接受上海证券报记者采访时表示，天工股份从天工国际母公司拆分上 市，将重点围绕钛及钛合金材料进行研发、生产、销售。与母公司生产钢球、钢粉、钢刀等不同，天工 股份主营的钛金属产品更具科技含量。"钛及钛合金材料行业是支持各种高端技术装备发展和尖端科技 进步的重要原材料产业，是我国的战略性产业，对于国防和民用科技发展具有战略意义。"朱泽峰说。 目前，钛金属材料广泛应用于化工及制盐、航空航天以及消费电子产品领域。天工股份本次登陆北交 所，拟募集资金投建年产3000吨高端钛及钛合金棒、丝材生产线项目，加大科研投入和工艺优化，助力 公司钛及钛合金材料提质增能。 钛材行业向高端升级 钛，在化学元素周期表中位于第4周期第四族，属于过渡金属元素。钛很坚硬，它耐高温、耐低温、防 腐蚀；钛也很"好看"，浑身散发着有光泽的银白色；钛的性状又特别"讨喜"，高强度、低密度，方便制 作成合金材料。 具有如此优良特性的钛金属，一直是工业制造备选材料的 ...

证券研究报告 | 北交所定期报告 | | --- | hyzqdatemark 2025 年 05 月 11 日 证券分析师 赵昊 SAC：S1350524110004 zhaohao@huayuanstock.com 万枭 SAC：S1350524100001 wanxiao@huayuanstock.com 北交所即将迎来 2025 年第四家公司上市，10 余家公司已过会待发行 ——北交所周观察第二十五期（20250511） 投资要点： 风险提示：宏观经济环境变动风险、市场竞争风险、资料统计误差风险 请务必仔细阅读正文之后的评级说明和重要声明 图表目录 | 图表 | 1： | 战略配售发行数量为 | 万股 | 1,800.00 | 4 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 图表 | 2： | 部分使用了钛合金的消费电子产品 4 | | | | | | | | | | | | | | | ...