2023年IPO市场回顾及2024年打新策略展望：重量更重质，展望IPO新常态

wangsiqi026737@gtjas.com021-38038671 S0880122070055 3566.25 1 2 3 313 5 4 2 /CONTENTS 01 02 03 04 05 3 4 01 01 2023 2023 4A 212172410A 2023 A2023Q2IPO ≠  2023 12023IPO 2023/1/7 2023/2/12023/2/17 2023/4/1010 2023/8/2132 2023/8/27IPO 2023/9/15≠ 2023/9/1 2023/10/87—2023 2023/10/1480%100%) 2023/11/8 2023/11/10 5 01 02 2023 2023 2023Q4 Q42023 100%1231A/B/C20231306.88/1283.67/1003.47 32 827IPO9Q432023Q4 Q42023 2024 时间 主板（万元） A类B类C类 创业板（万元） A类B类C类 科创板（万元） A类B类C类 合计（万元） A类B类C类 2022Q1 29.85 11.81 5.50 144.27 119.06 77.24 35.98 36.56 25.32 210.10167.43108.06 2022Q2 68.89 43.17 9.93 132.98 101.06 77.05 317.92 314.80 295.31 519.79459.03382.29 2022Q3 23.26 13.71 7.56 241.39 211.34 154.57 379.70 370.14 327.73 644.35595.19489.86 2022Q4 17.06 10.43 4.81 110.05 96.61 79.15 139.36 125.55 118.21 266.46232.58202.18 2022年全年 139.06 79.12 27.79 628.69 528.06 388.02 872.95 847.05 766.58 1640.711454.231182.38 2023年全年 196.24 187.77 133.86 593.70 585.43 423.72 516.94 510.47 445.89 1306.881283.671003.47 2023Q1 24.29 16.53 7.92 93.24 84.98 79.37 138.08 131.61 110.29 255.62233.11197.59 2023Q2 90.92 90.92 67.49 41.25 41.25 28.31 316.55 316.55 295.34 448.72448.72391.14 2023Q3 11.96 11.96 9.76 330.39 330.39 240.25 31.94 31.94 16.61 374.29374.29266.62 2023Q4 69.06 68.36 48.68 128.81 128.81 75.79 30.37 30.37 23.65 228.25 227.54 148.12 10月 12.67 12.67 7.29 21.49 21.49 14.44 -1.45 -1.45 -1.25 32.70 32.70 20.48 11月 18.71 18.01 12.26 10.59 10.59 7.06 26.26 26.26 21.17 55.56 54.86 40.48 12月 37.69 37.69 29.13 96.74 96.74 54.30 5.56 5.56 3.73 139.99 139.99 87.16 A B C A B C AB C AB C 2022Q1 29.85 11.81 5.50 187.81 158.80 112.82 180.57178.45156.68 398.23349.06274.99 2022Q1 -43.54 -39.75 -35.58 -144.59-141.89-131.36 -188.13-181.63-166.93 2022Q2 68.89 43.17 9.93 155.54 122.21 90.16 405.01394.46 358.08 629.44559.84 458.16 2022Q2 -22.55 -21.15 -13.11 -87.09-79.66 -62.77 -109.64-100.81 -75.87 2022Q3 23.26 13.71 7.56 263.10 228.18 166.66 494.45476.34 422.13 780.82718.23596.35 2022Q3 -21.71 -16.84 -12.09 -114.76-106.20 -94.40 -136.46-123.04-106.49 2022Q4 17.06 10.43 4.81 129.76 113.86 91.80 167.626.90 6.28 314.44276.01 234.71 2022Q4 -18.59 -16.67 -12.13 -28.27-4.36 -3.31 -46.86-42.85 -32.01 2023Q1 24.44 16.62 7.98 107.23 98.97 91.57 138.08131.61 110.29 269.75247.19 209.84 2023Q1 -0.14 -0.09 -0.06 -13.99 -13.99 -12.20 -14.13-14.08 -12.25 2023Q2 90.92 90.92 67.49 65.83 65.83 46.98 333.87333.87 310.66 490.62490.62 425.13 2023Q2 -24.58 -24.58 -18.67 -17.32-17.32 -15.31 -41.89-41.89 -33.99 2023Q3 15.29 15.29 11.97 336.88 336.88 245.51 108.68108.68 82.77 460.85460.85 340.25 2023Q3 -3.33 -3.33 -2.20 -6.48 -6.48 -5.27 -76.74-76.74 -66.16 -86.55-86.55 -73.63 2023Q4 69.06 68.36 48.68 129.48 129.48 76.46 31.8231.82 24.90 230.36229.66 150.04 2023Q4 -0.66 -0.66 -0.66 -1.45-1.45 -1.25 -2.12-2.12 -1.91 2023 26.95 18.43 9.15 639.41631.14460.52 612.45605.98528.62 1451.571428.321125.25 2023 -3.47 -3.42 -2.26 -45.71-45.71-36.80 -95.51-95.51-82.73 -144.69-144.64-121.78 6 Wind 100% 10%61231 22022~2023100%32022~2023 01 02 2023 2023 2023 2023Q4 2023 236 35 15% 2022 22%  A B C A B C A B C A B C 202220222022 123 18.6 6.5 2.4 76.0 67.7 51.3 17.1 15.8 17.8 111.8 90.0 71.6 7.2 3.2 1.7 17.5 14.0 9.6 7.1 6.5 4.4 31.8 23.6 15.7 4.1 2.1 1.4 50.7 37.3 16.3 11.8 14.3 3.1 66.5 53.8 20.8 2022 4 55.6 34.6 6.1 15.1 3.5 0.8 -50.4 -43.4 -28.5 20.3 -5.4 -21.5 2022 5 6.5 3.9 2.2 10.7 8.7 4.3 87.8 87.3 83.2 105.1 99.9 89.7 2022 6 6.7 4.7 1.6 107.1 88.9 71.9 280.5 270.9 240.7 394.4 364.5 314.2 202220222022 789 8.5 3.8 2.9 89.4 85.8 72.9 22.9 19.4 8.6 120.9 109.0 84.5 9.4 7.1 3.1 146.4 121.0 77.5 379.7 374.4 341.3 535.5 502.5 421.9 5.4 2.8 1.6 5.5 4.5 4.1 -22.9 -23.7 -22.2 -12.0 -16.4 -16.5 20222022 1011 2.92.7 1.92.1 1.01.0 5.7 78.8 5.0 72.7 2.7 61.2 58.238.1 50.033.6 50.229.7 66.8 119.6 56.9 108.4 53.991.9 2022 12 11.4 6.4 2.8 25.6 18.9 15.2 43.0 42.0 38.3 80.0 67.3 56.3 2022 139.1 79.1 27.8 628.7 528.1 388.0 873.0 847.0 766.6 1640.71454.21182.4 2023 1 3.4 2.2 1.4 3.4 1.7 1.5 28.5 25.8 16.8 35.3 29.7 19.6 20232023 23 11.2 9.6 7.96.4 3.43.1 88.1 1.7 84.1 -0.8 78.3 -0.4 74.435.2 72.533.3 66.926.6 173.8 46.5 164.5 38.9 148.6 29.3 2023 4 88.6 88.6 66.2 -0.1 -0.1 -0.4 199.2 199.2 193.9 287.7 287.7 259.7 2023 5 2.3 2.3 1.3 26.0 26.0 19.6 53.9 53.9 47.1 82.2 82.2 68.0 2023 6 - - - 15.3 15.3 9.1 63.4 63.4 54.3 78.8 78.8 63.4 202320232023 789 - - - 77.8 77.8 55.6 -8.9 -8.9 -11.6 68.9 68.9 44.1 3.4 3.4 2.7 188.0 188.0 133.0 -5.1 -5.1 -4.1 186.3 186.3 131.6 8.6 8.6 7.0 64.6 64.6 51.7 46.0 46.0 32.2 119.2 119.2 90.9 20232023 1011 12.718.7 12.718.0 7.3 12.3 21.510.6 21.510.6 14.4 7.1 -1.5 26.3 -1.5 26.3 -1.3 21.2 32.755.6 32.754.9 20.540.5 2023 12 37.7 37.7 29.1 96.7 96.7 54.3 5.6 5.6 3.7 140.0 140.0 87.2 2023 196.2 187.8 133.9 593.7 585.4 423.7 516.9 510.5 445.9 1306.91283.71003.5 42022 12022 主板上市数量创业板上市数量科创板上市数量 主板破发率（右轴）创业板破发率（右轴）科创板破发率（右轴） 25 2023下半年新股 破发率整体回落 120% 20 100% 80% 15 60% 10 40% 5 20% 0 0% Wind 100% 7 01 02 2023