北交所双周报：北交所现金分红创新高，年度审计工作提示发布

Market Overview - The Beijing Stock Exchange (BSE) underperformed during the period from December 30, 2024, to January 10, 2025, with the BSE 50 Index declining by 6.2% compared to the opening value on December 30, 2024 [6][16] - The total market capitalization of the BSE was 5359.4 billion yuan as of January 10, 2025, with 263 constituent stocks, of which 43 stocks rose, 0 remained flat, and 220 declined [6][16] - The average market capitalization of BSE A-shares was 20.4 billion yuan, significantly lower than the average market capitalization of 84.6 billion yuan for ChiNext and 110.3 billion yuan for the STAR Market [10][11] - The trading volume of the BSE during this period was 1261.3 billion yuan, with an average weekly trading volume of 4.8 billion yuan and a turnover rate of 48.9%, indicating improved liquidity compared to the previous period [10][11] New Listings and IPO Dynamics - One new stock, Xingtu CeKong (920116.BJ), was listed on the BSE during this period, with a significant first-day increase of 407.2% [13] - Xingtu CeKong, operating in the computer industry, specializes in aerospace measurement and control management and digital simulation, with a market capitalization of 5.39 billion yuan as of January 10, 2025 [13] - During this period, 34 companies updated their IPO review status, with 6 companies under inquiry, 1 company approved by the listing committee, 1 company registered, 5 companies terminated, 1 company submitted for registration, and 20 companies accepted [50][51] Sector Performance - The automotive sector performed relatively well, with a median sector increase of 2.5%, an improvement of 11.6 percentage points compared to the previous period [26] - The utilities sector underperformed, with a median sector decline of 8.0%, a decrease of 4.0 percentage points compared to the previous period [26] - The media sector had the highest median P/E (TTM) of 1464.4x, a decrease of 104.6x from the previous period, while the defense sector had a negative median P/E (TTM) of -2.6x, an increase of 9.8x from the previous period [26] Fund Performance - BSE-themed funds underperformed during this period, with the best-performing fund, ChinaAMC BSE Innovation SME Selection Two-Year Regular Open Hybrid Fund, declining by 0.3%, underperforming the broader fund index by 0.8 percentage points [27][28] - BSE index funds also underperformed, with the best-performing fund, GF BSE 50 Index Fund C, declining by 2.1% [27][28] Corporate Announcements - Kaide Quartz (835179) reported strong growth in its semiconductor business, with significant orders for compound semiconductor quartz products and ongoing capacity expansion projects [33] - Fujitsu (835640) highlighted its competitive advantages in the satellite sector, including deep technical expertise and cost control capabilities, with expectations of significant growth in commercial satellite launches in 2025 [34] - Ruiqi Zhizao (833781) addressed capacity bottlenecks, with new production facilities under construction and a focus on expanding its nuclear energy market [35] - Suzhou Bearing (430418) noted minimal impact from the shift to new energy vehicles on its needle roller bearing business, with production lines operating at full capacity [36] - Zhongcao Spices (920016) emphasized its focus on the domestic market, with new production facilities expected to contribute to future growth [37] - Parallel Technology (839493) reported high GPU utilization rates of 80%-90% and ongoing optimization of its DeepSeek-V3 model [38] - Kerun Intelligent Control (834062) discussed its strategy for international expansion, particularly in Southeast Asia, Europe, and the US, with a focus on cost advantages and market diversification [39] - Minshida (833394) highlighted growth opportunities in the honeycomb core material sector and plans to expand its overseas market presence [40] - Huifeng Diamond (839725) reported strong performance in its diamond micro-powder business, with significant revenue contributions from the photovoltaic and semiconductor sectors [41] - Xunan Technology (834950) emphasized its leading position in the personal protective equipment market and its partnerships with international manufacturers [42] - Guangsha Huanneng (873703) discussed the impact of the "reduce oil, increase chemicals" trend on its business and its participation in clean energy markets [43] - Haosheng Electronics (838701) reported a 24.7% year-on-year revenue increase, driven by recovery in the consumer electronics sector and increased sales to major customers [44]