Core Viewpoint - The article discusses the rapid development of the index system in China, highlighting the increasing market recognition and the accelerating trend of index-based investment, particularly focusing on the Shanghai Stock Exchange's initiatives to educate investors about index investment [8]. Group 1: Index Development and Market Trends - The index system in China has been rapidly improved, leading to a growing acceptance of index-based investment strategies among investors [8]. - The Shanghai Stock Exchange, in collaboration with China Fund News and China Securities Index Company, has launched educational initiatives to help investors understand the key aspects of index investment [8]. Group 2: Private Enterprises in the Sci-Tech Board - As of June 2025, there are 3,478 listed private enterprises on the A-share market, accounting for nearly two-thirds of all listed companies, with 422 of them on the Sci-Tech Board, representing over 70% [10]. - The total market capitalization of private enterprises on the Sci-Tech Board is 3.5 trillion yuan, with total revenue of 0.9 trillion yuan, constituting 58.2% and 68.0% of the total for the Sci-Tech Board, respectively [10][11]. Group 3: R&D Investment and Innovation - The Sci-Tech Board aims to support high-level technological self-reliance, focusing on "hard technology" enterprises, with private enterprises' R&D investment reaching nearly 80 billion yuan in 2024, resulting in an R&D intensity of 8.9% [12]. - The private enterprise strategy index on the Sci-Tech Board selects 50 companies based on their R&D investment and profitability, providing a tool for investors to access high-quality private enterprises [14][16]. Group 4: Index Sample Characteristics - The sample space for the private enterprise strategy index includes all private enterprises listed on the Sci-Tech Board, excluding ST and *ST securities, with a focus on liquidity and market capitalization [15][16]. - As of July 10, 2025, the total market capitalization of the index samples ranges from 2.3 billion to 50 billion yuan, covering 18% of the Sci-Tech Board [21]. Group 5: Industry Distribution - The private enterprise strategy index emphasizes support for technology enterprises, with the top three industries being new generation information technology (55.2%), biomedicine (23.6%), and high-end equipment (9.9%) [23][25]. - The average R&D investment ratio for the index samples is significantly higher than the overall A-share market, with a median of 21.4% compared to 4.3% for the A-share market [25].

Group 1 - The launch of the "Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise Index" and the "Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise 50 Strategy Index" marks a significant milestone in providing benchmarks and investment targets for private technology enterprises on the Sci-Tech Innovation Board [1] - Private enterprises play a crucial role in the capital market, with 3,478 listed companies in China being private, accounting for nearly two-thirds of the total, and 422 of these being on the Sci-Tech Innovation Board, representing over 70% [1] - The two indices provide a comprehensive portrayal of private enterprises on the Sci-Tech Innovation Board and serve as a quantitative anchor for selecting hard-tech private enterprises [1] Group 2 - UCloud Technology Co., Ltd., as the first public cloud company listed on the Sci-Tech Innovation Board, has been selected as a sample stock for both indices, reflecting the capital market's recognition of the growth value and investment potential of private enterprises [2] - Since the launch of the Sci-Tech Innovation Board, there have been 32 indices and 86 ETFs, with a total scale exceeding 250 billion RMB, indicating a robust ecosystem of indices and ETF products [2] - The establishment of these indices continues the trend of institutional innovation in the Sci-Tech Innovation Board, which has evolved from a "testing ground" to a "demonstration field" in the Chinese capital market [3] Group 3 - The institutional innovations of the Sci-Tech Innovation Board have restructured the Chinese capital market ecosystem, promoting inclusive rules such as unprofitable listings and differentiated voting rights [3] - The release of the two indices provides effective financial tools for directing long-term capital towards new productive forces in the private sector, signaling policy confidence and capital guidance [3] - A financial infrastructure supporting the development of new productive forces is gradually taking shape as the capital market adopts more refined tools to identify innovation value [3]

Group 1 - The Shanghai Stock Exchange and China Securities Index Company announced the launch of the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise Index and the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise 50 Strategy Index, providing performance benchmarks and investment targets for the private enterprise sector in the Sci-Tech Innovation Board [1][10] - The Civil Aviation Administration of China has approved the delivery of the V2000CG Kai Rui Ou, the world's first eVTOL aircraft with "three certificates" (TC, PC, and AC), marking a significant milestone in the eVTOL industry [2][16][21] Group 2 - The People's Bank of China reported that by the end of Q2 2025, the balance of RMB loans from financial institutions reached 268.56 trillion yuan, a year-on-year increase of 7.1% [4] - The balance of real estate loans was 53.33 trillion yuan, with a year-on-year growth of 0.4%, while personal housing loans saw a slight decline of 0.1% [4] - The National Data Bureau is accelerating the construction and application of high-quality data sets to promote the marketization and valuation of data elements [5][7] Group 3 - The Ministry of Industry and Information Technology reported that by the end of June 2025, the total number of mobile phone users reached 1.81 billion, with 5G users growing rapidly to 1.12 billion, accounting for 61.8% of total mobile phone users [9] - The Shanghai Municipal Economic and Information Commission issued a development action plan for the next-generation display industry, aiming to create a complete industrial chain and enhance competitiveness by 2030 [8] Group 4 - The issuance of panda bonds by international development institutions has surpassed 1 trillion yuan, with over 90 institutions participating [10] - Public funds reported their top ten heavy stocks, with Tencent Holdings leading at a market value of 59.156 billion yuan [11] - The China Life Group reported a significant increase in insurance coverage and investment in the equity market, with total assets exceeding 8 trillion yuan [12] Group 5 - The Zhengzhou Commodity Exchange launched propylene futures and options, marking a significant development in the chemical industry [11] - The announcement of the first eVTOL aircraft delivery signifies a breakthrough in the commercial application of eVTOL technology [16][21]

Core Insights - The Shanghai Stock Exchange and China Securities Index Co. announced the launch of the Sci-Tech Innovation Board Private Enterprise Index and the Sci-Tech Innovation Board Private Enterprise 50 Strategy Index, aimed at providing performance benchmarks and investment targets for private enterprises in the Sci-Tech Innovation Board [1][2] Group 1: Index Overview - The Sci-Tech Innovation Board Private Enterprise Index includes all private enterprise listed companies on the Sci-Tech Innovation Board, with a total of 422 samples and a combined market capitalization of 3.5 trillion yuan as of June 30, 2025 [1][2] - Among the 422 private enterprises, 171 are projected to achieve both revenue and net profit growth in 2024, with 37 companies experiencing revenue growth exceeding 50% and 64 companies seeing net profit growth over 50% [1] Group 2: Strategy Index - The Sci-Tech Innovation Board Private Enterprise 50 Strategy Index selects 50 private enterprises with high R&D investment and strong profitability, focusing more on investment attributes, with a total market capitalization of approximately 1.2 trillion yuan [1] - The average daily trading volume for the strategy index over the past year was about 16.1 billion yuan [1] Group 3: R&D Investment - As of June 30, 2025, private enterprises on the Sci-Tech Innovation Board invested nearly 80 billion yuan in R&D, with an R&D intensity of 8.9%, and strategic emerging industries exceeding 16% in R&D intensity [2] Group 4: Future Developments - The Shanghai Stock Exchange plans to continuously enrich and improve the index system for the Sci-Tech Innovation Board to better serve the development of technology finance and support high-quality development of the real economy [2]

Group 1 - The Shanghai Stock Exchange and China Securities Index Company announced the launch of the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise Index and the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise 50 Strategy Index on July 23, 2023, marking a significant addition to the index system on the sixth anniversary of the Sci-Tech Innovation Board [1][2] - The private economy is a crucial driver of modernization and high-quality development in China, with private enterprises accounting for nearly two-thirds of A-share listed companies, and over 70% of the 422 companies listed on the Sci-Tech Innovation Board being private enterprises [1][2] - The Sci-Tech Innovation Board focuses on supporting "hard technology" companies, with private enterprises projected to invest nearly 80 billion yuan in R&D in 2024, achieving a research intensity of 8.9%, and strategic emerging industries exceeding 16% [1][2] Group 2 - The Sci-Tech Private Enterprise Index includes all private enterprise securities listed on the Sci-Tech Innovation Board, with a total of 422 securities and a combined market value of 3.5 trillion yuan as of June 30, 2025, showcasing strong growth with 171 companies achieving both revenue and net profit growth in 2024 [2] - The Sci-Tech Private Enterprise Strategy Index selects 50 private companies with high R&D investment and strong profitability, achieving an annualized return of 2.7% since its base date, outperforming the Sci-Tech 50 Index by approximately 3.5 percentage points [2] - The index system of the Sci-Tech Innovation Board has been continuously optimized, with 161 products tracking these indices, totaling nearly 260 billion yuan in scale as of July 18 [2][3]

Core Insights - The Shanghai Stock Exchange and China Securities Index Co. announced the launch of the Sci-Tech Innovation Board Private Enterprise Index and the Sci-Tech Innovation Board Private Enterprise 50 Strategy Index to provide benchmarks and investment targets for private enterprises in the Sci-Tech Innovation Board [1][2] - Private enterprises play a crucial role in China's modernization and high-quality development, with 3,478 listed companies in A-shares, of which 422 are on the Sci-Tech Innovation Board, accounting for over 70% [1][2] - The Sci-Tech Innovation Board focuses on supporting "hard technology" companies, with private enterprises expected to invest nearly 80 billion yuan in R&D in 2024, achieving a research intensity of 8.9%, and strategic emerging industries exceeding 16% [1][2] Index Details - The Sci-Tech Innovation Board Private Enterprise Index includes all private enterprise listed companies on the Sci-Tech Innovation Board, with a total of 422 samples and a combined market value of 3.5 trillion yuan as of June 30, 2025 [2] - The index shows strong growth, with 171 companies reporting increases in both revenue and net profit in 2024, 37 companies with revenue growth exceeding 50%, and 64 companies with net profit growth over 50% [2] - The Sci-Tech Innovation Board Private Enterprise 50 Strategy Index focuses on 50 private companies with high R&D investment and profitability, achieving an annualized return of 2.7%, outperforming the Sci-Tech 50 by approximately 3.5 percentage points [2] Market Impact - The total market value of the Sci-Tech Innovation Board Private Enterprise Strategy Index is approximately 1.2 trillion yuan, with an average daily trading volume of about 16.1 billion yuan over the past year [2] - The index is heavily weighted in strategic emerging sectors such as semiconductors, computers, and biomedicine, accounting for about 68.5% of the total weight [2] - As of July 18, 2023, there are 161 products tracking the Sci-Tech Innovation Board indices, with a total scale of nearly 260 billion yuan, indicating a robust investment ecosystem [2][3]

Core Viewpoint - The Shanghai Stock Exchange and China Securities Index Company announced the launch of the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise Index and the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise 50 Strategy Index, aimed at providing performance benchmarks and investment targets for private enterprises in the Sci-Tech Innovation Board [1][2][3]. Group 1: Index Overview - The Sci-Tech Innovation Board Private Enterprise Index includes all private enterprise listed companies on the Sci-Tech Innovation Board, reflecting the overall performance of these companies [3]. - As of June 30, 2025, the index sample consists of 422 companies with a total market capitalization of 3.5 trillion yuan, with 171 companies achieving both revenue and net profit growth in 2024 [3]. - The Sci-Tech Innovation Board Private Enterprise 50 Strategy Index selects 50 private companies with high R&D investment and strong profitability, focusing on investment attributes [3]. Group 2: Performance Metrics - Since its inception, the Sci-Tech Innovation Board Private Enterprise Strategy Index has achieved an annualized return of 2.7%, outperforming the Sci-Tech 50 by approximately 3.5 percentage points [3]. - The industry distribution of the strategy index is concentrated in strategic emerging sectors such as semiconductors, computers, and biomedicine, which together account for about 68.5% of the index [3]. - As of June 30, 2025, the total market capitalization of the strategy index sample is approximately 1.2 trillion yuan, with an average daily trading volume of about 16.1 billion yuan over the past year [3]. Group 3: R&D Investment - In 2024, private enterprises on the Sci-Tech Innovation Board invested nearly 80 billion yuan in R&D, with an R&D intensity of 8.9%, and strategic emerging industries exceeding 16% in R&D intensity [5]. - The Shanghai Stock Exchange and China Securities Index Company have continuously improved the index system, adding a total of 16 new indices since the introduction of the "Eight Articles of Sci-Tech Innovation Board," bringing the total to 32 indices [5]. - The ongoing development of the index system aims to better serve the construction of a technology finance ecosystem and support the high-quality development of the real economy [5].

Core Viewpoint - The Shanghai Stock Exchange and China Securities Index Company announced the launch of the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise Index and the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise 50 Strategy Index, aimed at providing performance benchmarks and investment targets for private enterprises in the Sci-Tech Innovation Board [1][3]. Group 1: Index Overview - The Sci-Tech Innovation Board Private Enterprise Index includes all private enterprise listed companies on the Sci-Tech Innovation Board, with a total of 422 samples and a combined market capitalization of 3.5 trillion yuan as of June 30, 2025 [3]. - Among the 171 private enterprises, 2024 is projected to see both revenue and net profit growth, with 37 companies experiencing revenue growth exceeding 50% and 64 companies with net profit growth over 50%, indicating strong growth vitality [3]. - The Sci-Tech Innovation Board Private Enterprise Strategy Index selects 50 private listed companies with high R&D investment and strong profitability, focusing on investment attributes, achieving an annualized return of 2.7%, outperforming the Sci-Tech 50 by approximately 3.5 percentage points [3]. Group 2: Industry Insights - The private economy is recognized as a driving force for China's modernization and high-quality development, playing a crucial role in the capital market [3]. - In 2024, private enterprises on the Sci-Tech Innovation Board are expected to invest nearly 80 billion yuan in R&D, with an R&D intensity of 8.9%, and strategic emerging industries surpassing 16% [5]. - The Shanghai Stock Exchange and China Securities Index Company have continuously improved the index system, adding 16 new indices since the introduction of the "Eight Articles of Sci-Tech Innovation Board," bringing the total to 32 indices, thus creating a comprehensive index ecosystem [5].

Core Viewpoint - The Shanghai Stock Exchange and China Securities Index Co. announced the upcoming launch of the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise Index and the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise 50 Strategy Index, aimed at providing performance benchmarks and investment targets for private enterprises in the Sci-Tech Innovation Board [1][2]. Group 1: Index Overview - The upcoming Sci-Tech Innovation Board Private Enterprise Index will include all private enterprise listed companies on the Sci-Tech Innovation Board, with a total of 422 companies and a combined market capitalization of 3.5 trillion yuan as of June 2025 [2]. - The Sci-Tech Innovation Board private enterprises account for over 70% of the total listed companies on the board, with a total revenue of 0.9 trillion yuan, representing 68.0% of the total revenue of all listed companies on the board [1][2]. - The Sci-Tech Innovation Board Private Enterprise Strategy Index will select 50 private enterprises with high R&D investment and strong profitability, focusing on investment attributes [2]. Group 2: Performance Metrics - As of June 2025, 171 private enterprises within the index reported both revenue and net profit growth in 2024, with 37 companies achieving revenue growth exceeding 50% and 64 companies achieving net profit growth exceeding 50% [2]. - The annualized return of the Sci-Tech Innovation Board Private Enterprise Strategy Index since its base date is 2.7%, outperforming the Sci-Tech 50 Index by approximately 3.5 percentage points [2]. - The industry distribution of the strategy index is concentrated in strategic emerging sectors such as semiconductors, computers, and biomedicine, with a combined weight of about 68.5% [2]. Group 3: Market Development - The Shanghai Stock Exchange and China Securities Index Co. have been continuously improving the index system for the Sci-Tech Innovation Board, with a total of 32 indices and 86 ETFs launched, exceeding a total scale of 250 billion yuan [3]. - Since the introduction of the "Eight Articles of the Sci-Tech Innovation Board," 16 new indices have been added, reflecting the growing ecosystem of indices and ETF products [3].

Group 1 - The Shanghai Stock Exchange and China Securities Index Company will officially launch the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise Index and the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise 50 Strategy Index on July 23 [1] - The total number of indices on the Science and Technology Innovation Board has reached 32, and the number of ETFs has reached 86, with a total scale exceeding 250 billion yuan [1]