Ge Long Hui·2025-12-09 10:17Core Viewpoint - Hong Kong Exchanges and Clearing Limited (HKEX) has launched the Hang Seng Tech 100 Index, the first index for Hong Kong stocks, which tracks the performance of the largest 100 technology companies listed on the Hong Kong Stock Exchange [1] Group 1: Index Composition and Criteria - The Hang Seng Tech 100 Index includes companies that meet specific liquidity and growth criteria: a minimum average daily trading volume of HKD 20 million over the past six months and either R&D expenditure accounting for over 3% of revenue or revenue growth exceeding 5% over the past two years [1][2] - Selected companies include major players such as Tencent Holdings, Alibaba Group, BYD Company, and Xiaomi Group, among others [1] - The index covers six innovation themes: artificial intelligence, biotechnology and pharmaceuticals, electric vehicles and smart driving, information technology, internet, and robotics [1] Group 2: Index Methodology and Adjustments - The index uses a free-float market capitalization weighting method, with a cap of 12% on the weight of any single constituent [1] - Constituents are reviewed and adjusted biannually, with data cut-off dates at the end of April and October each year [1] Group 3: Liquidity and Fundamental Requirements - The index has strict liquidity and fundamental requirements: securities with an average daily trading amount below HKD 20 million or ranking in the bottom 10% by trading volume will be excluded [2] - Companies with R&D spending below 3% of revenue or revenue growth below 5% over the past two fiscal years will also be excluded, although companies listed under Chapter 18A or 18C may be exempt from these fundamental requirements [2] - This design aims to select technology stocks with market interest and growth potential, facilitating the development of related products in the mainland Chinese market and meeting the demand for technology investments from mainland investors [2]