Core Viewpoint - Multiple indices in the A-share market are undergoing significant adjustments, with sample stocks being updated for various indices including the Shanghai Composite, ChiNext, and others, effective from December 12, 2025, and December 15, 2025 [1][2][4]. Group 1: Index Adjustments - The Shanghai Stock Exchange announced adjustments to the Shanghai 50, Shanghai 180, and Shanghai 380 indices, with changes to sample stocks effective after market close on December 12, 2025 [2][13]. - The Shanghai 50 index will replace four stocks: SAIC Motor, Northern Rare Earth, Huadian New Energy, and Zhongke Shuguang, while removing Poly Development, China Mobile, China Aluminum, and CRRC [2][3]. - The Sci-Tech Innovation 50 index will add two stocks: Aojie Technology and Shengke Communication, while removing Huaxi Biotechnology and Hangcai Co [3][4]. Group 2: Shenzhen Stock Exchange Adjustments - The Shenzhen Stock Exchange will implement sample stock adjustments for the Shenzhen Component Index, ChiNext Index, and others, effective December 15, 2025 [4][6]. - The Shenzhen Component Index will add 17 stocks including Tuowei Information, Sifang Chuangxin, and Wolong Nuclear Materials, while removing Guoyao Yizhi, Haide Shares, and Tibet Mining [4][6]. - The ChiNext Index will add eight stocks including Shuanglin Co., Changshan Pharmaceutical, and Changsheng Bearing [8]. Group 3: Other Index Adjustments - The China Securities Index Company announced adjustments for the CSI 300, CSI 500, and other indices, effective after market close on December 12, 2025 [11][13]. - The CSI 300 index will replace 11 stocks, adding Huadian New Energy, Shenghong Technology, Dongshan Precision, and others, while removing FAW Liberation, Oppein Home, and others [13][14]. - The CSI 500 index will replace 50 stocks, the CSI 1000 index will replace 100 stocks, and other indices will also see various adjustments [14].

Group 1 - Multiple important indices in the A-share market are undergoing significant adjustments, with announcements made by the Shanghai and Shenzhen Stock Exchanges regarding changes to the sample stocks of indices such as the SSE 50, STAR 50, Shenzhen Component Index, and ChiNext Index [2][4] - The SSE 50 Index will replace 4 sample stocks, including the addition of SAIC Motor, Northern Rare Earth, Huadian New Energy, and Zhongke Shuguang, while Poly Developments, China Mobile, China Aluminum, and CRRC will be removed [4][5] - The STAR 50 Index will see 2 stocks replaced, with Aojie Technology and Shengke Communication being added, and Huaxi Biology and Hangcai Co. being removed [5][6] Group 2 - The Shenzhen Stock Exchange announced adjustments to the Shenzhen Component Index, ChiNext Index, Shenzhen 100, and ChiNext 50, effective December 15, 2025, with 17 new stocks including Tuowei Information, Sifang Precision, and Wolong Nuclear Materials being added [6][7] - The ChiNext Index will add 8 stocks, including Shuanglin Co. and Changshan Pharmaceutical [9] - The Shenzhen 100 Index will add 7 sample stocks, while the ChiNext 50 Index will replace 5 stocks [10] Group 3 - On November 28, the China Securities Index Co. announced adjustments to indices such as the CSI 300, CSI 500, CSI 1000, CSI A50, CSI A100, and CSI A500, with changes effective after the market closes on December 12, 2025 [12][14] - The CSI 300 Index will replace 11 stocks, adding Huadian New Energy, Shenghong Technology, Shandong Precision, and others, while removing FAW Liberation, Oppein Home, and others [14][15] - The CSI 500 Index will replace 50 stocks, the CSI 1000 Index will replace 100 stocks, the CSI A50 Index will replace 4 stocks, the CSI A100 Index will replace 6 stocks, and the CSI A500 Index will replace 20 stocks [15]

Core Viewpoint - Multiple indices in the A-share market are undergoing significant adjustments, with announcements made by the Shanghai and Shenzhen Stock Exchanges regarding changes to sample stocks in various indices, effective in December 2025 [1][2]. Group 1: Index Adjustments - The Shanghai Stock Exchange announced adjustments to the Shanghai 50, Shanghai 180, and Shanghai 380 indices, with changes effective after market close on December 12, 2025 [2]. - The Shanghai 50 index will replace four stocks, adding SAIC Motor, Northern Rare Earth, Huadian New Energy, and Zhongke Shuguang, while removing Poly Developments, China Mobile, China Aluminum, and CRRC [3][4]. - The Sci-Tech Innovation 50 index will replace two stocks, adding Aojie Technology and Shengke Communication, while removing Huaxi Biotechnology and Hangcai Co [4][5]. Group 2: Shenzhen Stock Exchange Adjustments - The Shenzhen Stock Exchange announced sample stock adjustments for the Shenzhen Component Index, ChiNext Index, Shenzhen 100, and ChiNext 50, effective December 15, 2025 [5][7]. - The Shenzhen Component Index will add 17 stocks, including Tuowei Information, Sifang Jingchuang, and Wolong Nuclear Materials, while removing Guoyao Yizhi, Haide Shares, and Tibet Mining [7][9]. - The ChiNext Index will add eight stocks, including Shuanglin Co., Changshan Pharmaceutical, and Changsheng Bearing [9]. Group 3: Zhongzheng Index Adjustments - The Zhongzheng Index Company announced adjustments to the CSI 300, CSI 500, CSI 1000, CSI A50, CSI A100, and CSI A500 indices, effective after market close on December 12, 2025 [13][14]. - The CSI 300 index will replace 11 stocks, adding Huadian New Energy, Shenghong Technology, Shandong Precision, and others, while removing FAW Liberation, Oppein Home, and others [13][14]. - The CSI 500 index will replace 50 stocks, the CSI 1000 index will replace 100 stocks, the CSI A50 index will replace four stocks, the CSI A100 index will replace six stocks, and the CSI A500 index will replace 20 stocks [14].

Core Viewpoint - Multiple indices in the A-share market are undergoing significant adjustments, with announcements made by the Shanghai and Shenzhen Stock Exchanges regarding changes to sample stocks in various indices [2][4]. Group 1: Index Adjustments - On November 28, the Shanghai Stock Exchange announced adjustments to the sample stocks of the Shanghai 50, Shanghai 180, Shanghai 380, and Sci-Tech 50 indices, effective after the market closes on December 12, 2025 [4][14]. - The Shanghai 50 index will replace four stocks, including the addition of SAIC Motor, Northern Rare Earth, Huadian New Energy, and Zhongke Shuguang, while Poly Development, China Mobile, China Aluminum, and CRRC will be removed [5][17]. - The Sci-Tech 50 index will replace two stocks, adding Aojie Technology and Shengke Communication, while Huaxi Biotechnology and Hangcai Co. will be removed [5][6]. Group 2: Shenzhen Stock Exchange Adjustments - The Shenzhen Stock Exchange announced that it will implement regular sample stock adjustments for the Shenzhen Component Index, ChiNext Index, Shenzhen 100, and ChiNext 50 on December 15, 2025 [6][14]. - The Shenzhen Component Index will add 17 stocks, including Tuowei Information, Sifang Jingchuang, and Wolong Nuclear Materials, while Guoyao Yizhi, Haide Shares, and Tibet Mining will be removed [6][7]. Group 3: Additional Index Changes - The ChiNext Index will add eight stocks, including Shuanglin Co., Changshan Pharmaceutical, and Changsheng Bearing [9][11]. - The CSI 300, CSI 500, and other indices will also undergo adjustments, with the CSI 300 replacing 11 stocks, including Huadian New Energy and Shenghong Technology, while removing FAW Liberation and Oppein Home [16][17]. - The CSI 500 index will replace 50 stocks, the CSI 1000 index will replace 100 stocks, and the CSI A50 and A100 indices will replace 4 and 6 stocks respectively [17].

Market Overview - A-shares experienced fluctuations with the three major indices adjusting, while sectors such as Hainan Free Trade Zone, pharmaceuticals, oil and gas, and banking saw gains [1] - The Hong Kong market also showed an overall adjustment, with the innovative drug sector leading the gains, while technology stocks that surged at the end of the previous day collectively retreated [1] Index Performance - The CSI 300 Index fell by 0.8% with a rolling P/E ratio of 14.4 times, placing it in the 67.7% valuation percentile since its inception in 2005 [2] - The CSI A500 Index also decreased by 0.8%, with a rolling P/E ratio of 17.0 times, corresponding to a 73.9% valuation percentile since its launch in 2004 [2] - The ChiNext Index dropped by 1.7%, with a rolling P/E ratio of 41.4 times, which is in the 36.3% valuation percentile since its establishment in 2010 [2] - The STAR Market 50 Index declined by 1.5%, with a rolling P/E ratio of 159.6 times, placing it in the 96.3% valuation percentile since its inception in 2020 [2] Hong Kong Market Index - The Hang Seng China Enterprises Index, which includes 50 large-cap and actively traded stocks from mainland companies listed in Hong Kong, showed a decline, with a rolling P/E ratio of 11.0 times and a valuation percentile of 67.6% since its launch in 2002 [4]

Core Viewpoint - The article discusses the periodic adjustment of sample stocks in various indices by the Shenzhen Stock Exchange, highlighting the stocks being added and removed, and provides insights into market expectations for June, indicating a potential for a fluctuating market with a focus on quality stocks [1][2][3][4][5]. Index Adjustments - The Shenzhen Component Index will add 20 stocks including Zhongtung High-tech, Gansu Energy, and Sichuan Jiuzhou, while removing 20 stocks such as Nanbo A and Tianmao Group [1]. - The ChiNext Index will add 8 stocks including BlueFocus and Allwinner Technology, and remove 8 stocks such as Anke Bio and Steel Research High-tech [1]. - The Shenzhen 100 Index will add 3 stocks including Lingyi Technology and remove 3 stocks such as TCL Zhonghuan [2]. - The ChiNext 50 Index will add 5 stocks including Robot and BlueFocus, while removing 5 stocks such as Lepu Medical [3]. - The Shenzhen 50 Index will add 5 stocks including Dong'e Ejiao and remove 5 stocks such as AVIC Xi'an Aircraft [4]. - The Main Board 50 Index will add 4 stocks including Hisense Home Appliances and remove 4 stocks such as Tianshan Shares [4]. Market Outlook - According to招商证券, the market in June is expected to show a fluctuating trend, with a focus on large-cap and quality stocks as the market approaches the half-year report period [4]. - China Galaxy Securities notes that the speed of sector rotation has increased, but the market remains in a state of fluctuation without significant volume increase, indicating a focus on existing stocks [5]. - The long-term outlook for the A-share market is expected to reflect a self-driven nature, supported by policies encouraging long-term capital inflow [5].