一图看懂上证580

Core Viewpoint - The article discusses the rapid development of the index system in China, highlighting the launch of the Shanghai Stock Exchange 580 Index (SSE 580 Index) to better represent small-cap companies in the market, addressing the growing demand for diversified index investment options [6][9][10]. Group 1: Background and Need for SSE 580 Index - The macroeconomic growth and changing industrial structure in China have led to an increase in the number and market capitalization of listed companies, resulting in a heightened demand for indices [9]. - Over 60% of listed companies in the Shanghai market have a market capitalization below 10 billion yuan, indicating a lack of representation for small-cap companies in existing indices like the SSE 180 and SSE 380 [9][10]. - The SSE 580 Index aims to provide a comprehensive view of the performance of small-cap companies, enhancing the index system of the Shanghai Stock Exchange [10]. Group 2: Index Composition and Methodology - The SSE 580 Index includes 580 securities selected based on smaller market capitalization and better liquidity, reflecting the overall performance of small-cap stocks in the Shanghai market [13]. - The sample space for the SSE 580 Index is aligned with that of the SSE 180 Index, excluding securities from the SSE 180 and SSE 380 indices [15]. - Securities are selected based on liquidity criteria, with those in the top 90% of average daily trading volume over the past year being included [15]. Group 3: Industry Distribution and Market Capitalization - The SSE 580 Index has a significant representation from the industrial, information technology, and materials sectors, with weights of 27.0%, 19.1%, and 11.8% respectively, which are higher than those in the SSE 180 and SSE 380 indices [19]. - The index primarily covers small-cap stocks with a market capitalization concentrated in the 5-10 billion yuan range, accounting for approximately 10% of the total market capitalization of A-shares [23]. - The average market capitalization of the SSE 580 Index components is around 9.2 billion yuan, with a median of 8.5 billion yuan, effectively filling the gap for small-cap stock indices in the Shanghai market [23]. Group 4: Performance and Investment Potential - Since its inception, the SSE 580 Index has shown a cumulative increase of 51.1%, with an annualized return of 6.8%, indicating strong growth potential for small-cap innovative stocks in the Shanghai market [28]. - The index components have an average research and development intensity of 12.8% for 2024, with a compound annual growth rate of 10.3% in R&D investment over the past three years, highlighting the innovative capabilities of these companies [27].