Cambricon(SH:688256) Di Yi Cai Jing·2025-09-07 13:56Group 1 - The adjustment of the STAR 50 Index sample stocks will take place after the market closes on September 12, which includes the popular stock Cambricon [1] - Cambricon's recent significant stock price decline is perceived to be related to its weight exceeding 10% in the STAR 50 Index, potentially forcing passive funds to reduce their holdings [1][2] - The Shanghai Stock Exchange's educational video explains that the quarterly adjustment of the STAR series indices is a routine action aimed at ensuring the representativeness of the index and enhancing the investability of index products [1] Group 2 - The rule of limiting individual stock weight to a maximum of 10% is not unique to A-shares; it is a common practice both domestically and internationally to reduce concentration risk [2] - High concentration of individual stocks can lead to significant volatility in index performance, which is why the STAR series indices have set a 10% weight limit for individual stocks [2] - The adjustment process for ETFs is designed to minimize market impact, with fund companies typically making changes close to the implementation date while considering market liquidity [3] Group 3 - Concerns about a large outflow of funds from Cambricon, estimated at over 10 billion yuan, are addressed by stating that the funds will be redistributed among other index samples, maintaining the overall fund scale [4] - Investors are advised not to overly worry about short-term volatility, as the core value of index funds lies in tracking long-term returns rather than reacting to short-term adjustments [5]