Group 1 - The "Specialized, Refined, Unique, and Innovative" strategy closely aligns with the positioning of the Beijing Stock Exchange (BSE), focusing on cultivating specialized small and medium-sized enterprises (SMEs) to address critical issues in the industrial sector [3][8][10] - As of November 2024, over 140,000 specialized SMEs and 14,600 "Little Giant" enterprises have been cultivated in China, indicating a robust ecosystem for innovation and industrial upgrading [3][8] - The BSE's "Little Giants" account for over 50% of its total market capitalization, showcasing a strong foundation for the newly launched Specialized, Refined, Unique Index [3][27] Group 2 - The BSE Specialized, Refined, Unique Index was officially launched in June 2025, selecting the top 50 securities based on market capitalization from eligible "Little Giants," reflecting both scarcity and growth potential [3][27][38] - The index's top 15 constituent stocks account for 56% of its total weight, primarily concentrated in high-end manufacturing, new materials, and biomedicine sectors, with an average growth rate of approximately 57% since 2025 [3][41][40] - The index's methodology emphasizes liquidity and market capitalization, with adjustments made biannually to ensure it remains representative of the underlying market [3][33] Group 3 - The BSE's Specialized, Refined, Unique Index demonstrates superior growth characteristics compared to the BSE 50, with expectations for the first batch of index funds to reach several billion yuan in scale [3][40][38] - By 2027, the total scale of index funds linked to the BSE Specialized, Refined, Unique Index is projected to exceed 15 billion yuan, complementing the dual investment styles of "mainstream stability + innovative high growth" [3][40][38] - The index's performance has outpaced broader indices, indicating its potential as a differentiated investment benchmark for various investor preferences [3][36][38]

Core Viewpoint - The article discusses the performance and characteristics of the BeiZheng Specialized and Innovative Index and the BeiZheng 50 Index, highlighting their differences in trading frequency, adjustment impact, and market performance over time [1][3]. Group 1: Index Characteristics - The BeiZheng Specialized and Innovative Index has a rebalancing frequency that is half of that of the BeiZheng 50 Index, but the adjustment ratio is double, leading to similar turnover rates [1]. - Both indices share 27 overlapping constituent stocks, indicating a significant degree of similarity in their composition [1]. Group 2: Market Performance Comparison - From June 28 to September 24, the BeiZheng Specialized and Innovative Index fell by 7.94%, while the BeiZheng 50 Index dropped by 12.67%, demonstrating superior performance of the former [3][4]. - During the rebound on July 16 and 17, the BeiZheng Specialized and Innovative Index rose by 4.75% and 8.13%, respectively, compared to the BeiZheng 50 Index's increases of 2.68% and 7.20% [3][4]. - From September 25 to November 8, both indices saw significant gains, with the BeiZheng Specialized and Innovative Index increasing by 136% and the BeiZheng 50 Index by 125%, indicating closely aligned performance [6]. Group 3: Volatility and Recovery - Between November 11 and January 6, both indices experienced a pullback of 26% and 28%, respectively, with the BeiZheng Specialized and Innovative Index performing slightly better due to its prior gains [8]. - From January 7 to March 18, the BeiZheng Specialized and Innovative Index outperformed the BeiZheng 50 Index, with respective increases of 54% and 43% during this period [10]. Group 4: Future Implications - The article suggests that the BeiZheng Specialized and Innovative Index serves as a better early indicator in a bull market, with its leading position potentially signaling accelerated market growth [12]. - The relationship between the two indices is characterized by a "this rises, that falls" dynamic, which may become a core indicator in the dual-index era of the BeiZheng market [12].

Group 1 - The article introduces a new series of animations titled "North Exchange Knowledge at One Stop," aimed at helping investors understand the North Exchange market [2] - The third episode focuses on the "North Specialized, Refined, and Innovative Index," providing detailed information for interested investors [2]

Group 1 - The Beijing Stock Exchange (BSE) announced plans to conduct a test for the "Beijing Specialized, Refined, Unique, and Innovative Index" [1] - The testing institutions include BSE, National Equities Exchange and Quotations, China Securities Depository and Clearing Corporation, Shenzhen Stock Connect, China Securities Index, various securities companies, information vendors, and fund companies [1] - The test is scheduled for June 28, 2025, from 8:30 AM to 3:30 PM [1]