Releases
1.1 Number of Issuances
At the end of the first half of 2024, a total of 1,348 companies were listed and traded on the GEM. According to the statistics of the date of online IPO, 15 companies were successfully issued on the GEM in the first half of the year, a year-on-year decrease of 75% from 60 in the first half of 2023. Among them, 6 companies were issued in the second quarter, down 33.3% from 9 in the first quarter, declining for four consecutive quarters.
1.2 Industry distribution
The 15 GEM companies issued in the first half of 2024 are distributed among the five Wind first-tier industries, with the industrial sector ranking first with 5, followed by the materials and information technology industries with 4 issuances.
1.3 Listing Criteria
The 15 GEM companies issued in the first half of 2024 are all listed on Standard 1. That is, the net profit in the last two years is positive, and the cumulative net profit is not less than RMB 50 million.
1.4 Regional distribution
The GEM companies issued in the first half of 2024 are mainly concentrated in Guangdong, Zhejiang and Jiangsu, with 4, 3 and 3 issuances, in addition to 1 each in Shaanxi, Sichuan and Hebei.
1.5 Distribution of IPO financing amount
In the first half of 2024, the total amount of IPO financing of GEM companies was 8.721 billion yuan, a year-on-year decrease of 88.0%. 1 raised more than 1 billion yuan, and 5 raised between 5 and 1 billion yuan. The largest number of companies with financing of less than 1 billion yuan, a total of 9, accounting for 60%.
1.6 IPO financing
In the first half of 2024, Nova Nebula's IPO raised 1.629 billion yuan, ranking first, and the financing scale of 5 companies, Aidite, Zhongrui Co., Ltd., Zhonglong New Materials, Xingchen Technology and Jundingda, was more than 500 million yuan.
Market Sector
2.1 Changes in total market capitalization
At the end of the first half of 2024, the total market value of the GEM was 9.51 trillion yuan, a decrease of 0.97 trillion yuan, or 9.24%, compared with the total market value at the end of the first quarter of 2024, which was lower than that of the Beijing Stock Exchange and higher than that of the Science and Technology Innovation Board and the main boards of Shanghai and Shenzhen.
2.250 Index Rise and Fall Comparison
In the first half of 2024, the performance of the index was mixed across market sectors, with the ChiNext 50 Index falling 9.09%, better than the STAR 50 and the BSE 50 Index.
2.3 Comparison of turnover
In the first half of 2024, the total turnover of the GEM will reach 24.09 trillion yuan, and the average turnover of a single stock will be 17.872 billion yuan, which is higher than that of the Science and Technology Innovation Board and the Beijing Stock Exchange.
2.4 Comparison of average daily turnover rate
In the first half of 2024, the average daily turnover rate of ChiNext will be 4.83%, and capital transactions will be active, which is higher than that of the Shanghai and Shenzhen main boards and the Science and Technology Innovation Board.
2.5 P/E ratio comparison
At the end of the first half of 2024, the price-to-earnings ratio of ChiNext was 41.68 times, which is higher than the main board of the Shanghai Stock Exchange, the main board of the Shenzhen Stock Exchange and the Beijing Stock Exchange, and lower than the Science and Technology Innovation Board.
2.6 Price-to-book ratio comparison
At the end of the first half of 2024, the price-to-book ratio of ChiNext was 2.58 times, higher than that of the Shanghai and Shenzhen main boards and lower than that of the Science and Technology Innovation Board.
2.7 Changes in margin balances
At the end of the first half of 2024, the balance of GEM financing was 220.772 billion yuan, a decrease of 22.375 billion yuan from the beginning of the year, and the scale of leveraged capital purchase was still large.
At the end of the first half of 2024, the balance of securities lending and borrowing on the ChiNext Board was 3.808 billion yuan, a decrease of 4.395 billion yuan from the beginning of the year, and the volume of securities lending and selling continued to decrease in the first half of the year.
Market stocks
3.1 Market capitalization of individual stocks
At the end of the first half of 2024, CATL ranked first with a total market value of 791.917 billion yuan, and seven companies, including Mindray Medical and Oriental Fortune, all had a total market value of more than 100 billion yuan.
3.2 Stocks gained
In the first half of 2024, 140 GEM stocks rose (excluding the increase on the first day of listing), accounting for 10.4%. Zhengdan shares ranked first with a surge of 371.77%, and 13 companies such as Xinyisheng, Jiayi and Jindun rose by more than 50%.
3.3 Financing balance of individual shares
At the end of the first half of 2024, the financing balance of Oriental Wealth reached 12.015 billion yuan, ranking first, and the financing balance of 7 companies, including CATL and Kunlun Wanwei, exceeded 2 billion yuan.
3.4 Balance of individual stock borrowing and lending
At the end of the first half of 2024, the balance of Aimeike's securities lending and borrowing was 359 million yuan, and the three securities lending and selling of Aier Ophthalmology, Kunlun Wanwei and Xinyisheng also exceeded 100 million yuan.
3.5 Northbound positions of individual stocks
At the end of the first half of 2024, northbound funds held 708 GEM companies, of which CATL held the largest position, reaching 89.721 billion yuan. Mindray Medical, Inovance Technology, Zhongji InnoLight and Sungrow followed, with the market value of the four stocks exceeding 10 billion yuan.
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