Xin Hua Cai Jing·2026-02-10 14:32Core Insights - The Science and Technology Innovation Board (STAR Market) has welcomed a new company, Electric Science and Technology Blue Sky, bringing the total number of listed companies to 603, highlighting its role as a hub for "hard technology" enterprises in China [2] - The STAR Market Composite Index has gained significant attention, with a sample size of 580 stocks and a market capitalization coverage exceeding 90%, indicating a notable growth effect [2][3] - Nearly 60% of STAR Market companies have reported a year-on-year increase in net profit, with 39 companies experiencing a substantial growth of over 100% [3] STAR Market Overview - The STAR Market is characterized by a development pattern of "chain leader guidance and upstream-downstream collaboration," particularly in strategic emerging industries such as new-generation information technology, biomedicine, and high-end equipment manufacturing [2] - The STAR Market Composite Index has become one of the four core broad-based indices in A-shares, providing a vital tool for domestic and international investors to observe and share in the dividends of China's new productive forces [2] Performance and Growth - As of February 9, 2026, 391 companies on the STAR Market have disclosed their expected performance for 2025, with over 60% of them showing a year-on-year increase in net profit [3] - The total R&D investment of STAR Market companies reached 132.864 billion yuan in the first three quarters of 2025, which is 2.7 times the net profit of the sector, with a median R&D investment ratio of 12.5% of operating income, significantly higher than other A-share sectors [3] Reform and Development - The STAR Market has undergone three rounds of systematic reforms aimed at enhancing the inclusiveness and adaptability of the capital market, supporting various types of companies, including unprofitable and special equity structure enterprises [4] - Since the introduction of the "STAR Market Eight Articles," over 170 new merger and acquisition transactions have been recorded, totaling more than 90 billion yuan, with a transaction completion rate of nearly 70% [5] Index and Product Ecosystem - The STAR Market Composite Index has shown a steady upward trend since its launch, with an increase of approximately 63% as of February 10, 2026 [6] - A complete product chain has been established, including ETFs, linked funds, and enhanced products, with 49 fund managers launching a total of 81 STAR Market Composite Index funds, achieving a combined scale of 25.8 billion yuan [6]