Huajin Securities: Still prioritizing scarcity and fund preference as important directions for selecting new stock targets

Jinshi data news on November 3rd, Huajin Securities stated that the new stock zone continued to show structural active differentiation last week, but the volatility intensified; assuming a comparison of the new stock zone listed since 2023, the average weekly increase of the new stock zone last week was about -4.9%, with approximately 16.4% achieving positive returns within the week. Although the overly enthusiastic investment sentiment and excessively extreme immediate new stock pricing have seen consecutive declines, the actual activity of new stock funds has significantly increased since the end of September. As some new stocks return to the reasonable pricing area again, there have been slight signs of Long in the latter half of last week, which may be worth observing carefully. In terms of specific directions, continue along the clues of policies, industries, performance, and regulatory guidance, scarcity and fund preferences are still the most important directions for our new stock zone, with appropriate consideration of valuation price ratios on this basis; overall recommendations are moderately positive, flexible, and cautious.