Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-05-01 06:32Core Viewpoint - The Shenzhen Stock Exchange announced the revision of the ChiNext Index compilation scheme, incorporating an ESG negative exclusion mechanism to enhance the index's investability and reduce the risk of major events among sample stocks [1][2]. Group 1: ESG Negative Exclusion Mechanism - Starting from June 16, 2025, sample stocks rated below B by the National ESG rating will be excluded from the ChiNext Index [1][2]. - A weight adjustment factor will be implemented, limiting the weight of any single sample stock to a maximum of 20% during periodic adjustments [1][2]. - The introduction of this mechanism aims to lower the probability of significant risk events occurring within the index [2]. Group 2: Impact on Listed Companies - The mechanism is expected to enhance the awareness of ESG among listed companies and improve the quality of ESG information disclosure [2][3]. - Companies in emerging industries may face increased short-term compliance costs due to the introduction of the ESG negative exclusion mechanism [2]. - ESG should not be viewed merely as a cost burden; it helps companies and investors identify non-traditional risks and enhance corporate resilience [3]. Group 3: ESG Reporting and Disclosure - There is a need to encourage more listed companies to actively disclose ESG information, transitioning from voluntary to mandatory reporting over time [6]. - As of May 1, 2024, 2,455 A-share listed companies have disclosed independent ESG reports, representing 45.61% of the total, an increase of 3.75 percentage points from the previous year [6]. - The National ESG rating system, developed by the Shenzhen Stock Exchange, includes 15 themes, 34 fields, and over 220 indicators across three dimensions: Environment, Social Responsibility, and Governance [5].