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LOCATION: SZSE English/ABOUT/News/SZSE News

Shenzhen Market Indices Refresh to Enhance Roles as Long-term Value Ballast

Date: 2025-12-01

Shenzhen Stock Exchange (SZSE) and Shenzhen Securities Information Co., Ltd. have announced the forthcoming regular adjustment of several major indices such as Shenzhen Component Index, ChiNext Index, Shenzhen 100 Index, and ChiNext 50 Index according to the respective compilation rules. The reconstitution will take effect on 15 December 2025. The Shenzhen Component Index will replace 17 constituents, with the inclusion of 7 Main Board companies and 10 ChiNext Board names. The ChiNext Index will refresh 8 constituents. The Shenzhen 100 Index will change 7 constituents, with the inclusion of 4 Main Board units and 3 ChiNext Board entities. The ChiNext 50 Index will replace 5 constituents.

   

"Powerful Engine" for New Quality Productive Forces. After the adjustment, the strategic emerging industries will command a 93% weight in the ChiNext Index. The new sample cohort increased R&D spending by 13% year-on-year for the first three quarters of 2025, representing 5% of the operating revenue. Among them, 30 constituents allocate over 10% of their revenue to R&D. The Shenzhen 100 Index reinforces its new-economy blue-chip appeal, lifting the strategic emerging industries' weight to 81%. Key sectors such as advanced manufacturing, digital economy, and low-carbon industries together account for 79% of the index weight. The ChiNext 50 Index allocates 98% of its weight to strategic emerging industries, with the next-generation information technology including AI, semiconductors, and optical modules making up 45% of the index weight.

   

"Reinforced Core" Anchoring the Real Economy. After the reconstitution, the sample stocks in manufacturing will carry 76% weight in the Shenzhen Component Index, giving the benchmark the heaviest manufacturing exposure in China's capital markets. Notably, over one-third of them are national-level "single-product champion" manufacturers. The new ChiNext Index constituents posted robust growth, with aggregate operating revenue and net profit up by 16% and 24% year-on-year for the first three quarters, respectively. In particular, the net profit in high-end equipment manufacturing and new energy soared a growth rate of 60% and 54% respectively. The Shenzhen 100 Index is deeply integrated into global industrial and supply chains, with over 80% of its constituents operating internationally and their overseas operating revenue achieving a three-year CAGR of 17%.

   

"Reward Focus" Steering Long-term Value Strategies. After the adjustment, nearly 60% of the new Shenzhen Component Index constituents have adopted the action plan of "dual improvements in quality and return" while over 30% have initiated share repurchase to constantly bolster the market confidence. Among the new ChiNext Index constituents, 64 stocks hold a CNI ESG rating of A or higher, accounting for 79% of the index weight and reflecting enhanced sustainable growth drivers. The Shenzhen 100 Index constituents continue to exemplify strong investor returns, having distributed CNY 302.2 billion in cash dividends year-to-date. That accounts for 55% of the total cash dividends in the Shenzhen, with a trailing 12-month ROE of 12%. The index has become a sound instrument for medium and long-term capital.