Today, Tesla and BYD's "little partners" have arrived!

Recently, the performance of new stocks on the Beijing Stock Exchange has remained active. This week, the average first-day increase of two newly listed stocks on the Beijing Stock Exchange was 273.61%.

Institutions have noted that, influenced by overseas situations, risk aversion has increased recently, causing the secondary new stock sector to experience intense volatility again. However, it is worth noting that some individual new stocks have also shown relatively strong, phased activity, and structural highlights in the secondary new stock sector may still be evident. It is recommended to cautiously seek potential structural opportunities while managing risks.

According to current arrangements, three new stocks will be available for subscription next week. On Monday, March 23, Longyuan Co., Ltd., a “small giant” in automotive precision casting, is scheduled for subscription. It has a client structure of “globally renowned auto parts suppliers + vehicle manufacturers.” The company has established long-term stable cooperation with major clients, and its products are widely used by well-known global car brands, including Ford, General Motors, Tesla, NIO, Leapmotor, Xiaomi, BYD, Geely, GAC, Renault, Volkswagen, Audi, Changan, Great Wall, Hyundai, Toyota, BMW, Mercedes-Benz, and Chery.

On Friday, March 27, Hongban Technology, which focuses on R&D, production, and sales of printed circuit boards (PCBs), is scheduled for subscription. The company’s products in mobile phone HDI mainboards have leading coverage and market share in the industry. It is one of the top ten global smartphone brands’ main HDI PCB suppliers, serving brands such as OPPO, vivo, Honor, Xiaomi, Samsung, Transsion, Huawei, and Motorola.

Also on the same day, Sanrui Intelligent, a leading manufacturer of drone and robot power systems, will be available for subscription. Its downstream direct sales clients include aerospace electronics, Zongheng Co., Ltd., Huace Navigation, NTT Japan, and other well-known drone industry clients. According to industry research by Frost & Sullivan, based on 2024 sales, the company ranks second globally in the civil drone electric power system industry (excluding power batteries), just behind DJI Innovation.

Outlook: Overview of next week’s new stocks’ fundamentals

According to current arrangements, barring any changes, three new stocks will be available for subscription next week (March 23-27): one on the ChiNext, one on the Shanghai Main Board, and one on the Beijing Stock Exchange.

Monday

Longyuan Co., Ltd.:

The company specializes in R&D, production, and sales of aluminum alloy precision castings. With extensive experience in mold design and manufacturing, product casting, and precision processing, it has developed a product system centered on automotive aluminum alloy precision castings. Its products are mainly used in key areas such as automotive engine systems, new energy vehicle three-electric systems, steering systems, and thermal management systems.

According to the prospectus, Longyuan Co., Ltd. expects to achieve operating revenue of 1.026 billion yuan in 2025, an 18.05% increase year-over-year; net profit attributable to shareholders of the parent company is expected to be 143 million yuan, an 11.33% increase.

Friday

Hongban Technology:

The company focuses on R&D, production, and sales of printed circuit boards, targeting mid-to-high-end applications. Its products feature high precision, high density, and high reliability, making it one of the industry’s companies with a high proportion of HDI board revenue capable of mass production of any interconnect HDI boards and IC substrates. The company has a complete product structure, including HDI boards, rigid boards, flexible boards, rigid-flex boards, quasi-substrate boards, and IC substrates, widely used in consumer electronics, automotive electronics, high-end displays, and communication electronics.

Hongban Technology’s prospectus states that it expects to achieve a net profit of 120 million to 125 million yuan in the first quarter of 2026, representing a year-over-year increase of 10.85% to 15.47%.

Sanrui Intelligent:

The company is a leading manufacturer of drone and robot power systems, mainly engaged in R&D, production, and sales of electric power systems for drones and robots. It is actively developing eVTOL (electric vertical takeoff and landing) aircraft power systems. Since 2019, the company has been expanding into eVTOL power systems, providing scaled-down models and prototype R&D electric power systems.

Sanrui Intelligent’s prospectus states that it expects to achieve a net profit of 100 million to 118 million yuan in the first quarter of 2026, a year-over-year increase of 20.91% to 42.68%.

Author: Li Yuqi