路博迈基金韩羽辰：看好上证科创板综合价格指数的配置价值

Core Viewpoint - The manager of Lobo Fund, Han Yuchen, expresses optimism about the medium to long-term performance of the A-share technology market, highlighting the Shanghai Stock Exchange Science and Technology Innovation Board Composite Price Index as a potentially valuable index for investment [1]. Group 1: Index Characteristics - The index includes nearly all eligible listed companies on the Science and Technology Innovation Board, achieving a market capitalization coverage of nearly 100%, which allows it to comprehensively reflect the overall performance of these companies [1]. - The constituent stocks of the index are highly focused on "hard technology" industries, primarily in electronics (especially semiconductors), pharmaceuticals, machinery, and computers, showcasing high R&D intensity and significant innovation capabilities [1]. - The Science and Technology Innovation Board was established to support technological innovation and deepen capital market reforms, receiving various policy supports that create a favorable environment for corporate development [1]. - The index includes a balanced distribution of large, medium, and small-cap companies, reflecting the innovative growth characteristics of the Science and Technology Innovation Board [1]. Group 2: Quantitative Enhancement Potential - The feasibility of using the index for quantitative enhancement is high, as its individual stocks, styles, and industry distribution are relatively diversified and balanced, providing a broad selection pool for stock picking [2]. - This diversified distribution is beneficial for quantitative models to leverage Alpha generation capabilities [2].