Core Viewpoint - The launch of six new indices by China Securities Index Co., Ltd. aims to provide diversified investment options and reflect different investment styles, enhancing the precision of investment tools for the market and investors [1][2]. Group 1: New Indices Overview - The six new indices include the CSI A500 Relative Growth Index, CSI A500 Relative Value Index, CSI A500 Pure Growth Index, and CSI A500 Pure Value Index, which were derived from the CSI A500 index sample of 100 securities [1][2]. - The CSI A500 index has gained significant attention since its launch on September 23, 2022, with fund products tracking it reaching a scale of 277 billion yuan as of September 10, 2023 [2]. Group 2: Index Characteristics - The CSI A500 index employs an industry-balanced sampling method, selecting 500 large-cap securities to reflect the overall performance of representative companies across various industries [2]. - The CSI A500 Growth Index focuses on the top 100 securities with the highest growth factor scores, while the CSI A500 Value Index emphasizes securities with value characteristics [3]. Group 3: Market Implications - The new indices are seen as a reflection of the refined development of the capital market, catering to different investor needs, such as those seeking high-growth or stable-return investments [3][4]. - The diversification of index products is expected to lower investment thresholds, allowing smaller investors to participate in style rotation at a lower cost, which may lead to increased capital inflow into the market [4].

Core Insights - The China Securities Index Co., Ltd. has officially launched two significant indices: the CSI A500 Growth Index and the CSI A500 Value Index on September 10, 2025, enhancing the diversity of investment options in the market [1][3][7] Index Details - The CSI A500 Growth Index is composed of 100 securities selected based on the highest growth factor scores from the CSI A500 index sample, reflecting the overall performance of growth-oriented listed companies [3][4] - The CSI A500 Value Index is similarly constructed, selecting 100 securities with the highest value factor scores, representing the overall performance of value-oriented listed companies [4][5] Industry Distribution - As of September 9, 2025, the CSI A500 Growth Index has over 20% weight in the Industrial and Information Technology sectors, while Communication Services, Materials, and Consumer Discretionary sectors each exceed 10% [4] - The top ten weighted stocks in the CSI A500 Growth Index include Ningde Times, Zijin Mining, and BYD, with several being recent high-performing stocks [4] - In contrast, the CSI A500 Value Index has over 20% weight in the Financial and Industrial sectors, with Consumer Discretionary and Materials sectors also exceeding 10% [5] Upcoming Indices - In addition to the two indices launched, the China Securities Index Co., Ltd. will introduce four more indices on September 11, 2025, including the CSI A500 Relative Growth Index and the CSI A500 Pure Growth Index [1][7][9] - The CSI A500 Relative Growth Index will focus on securities with prominent growth characteristics, while the CSI A500 Pure Growth Index will include securities with a comprehensive growth probability of 1 [9]

Core Viewpoint - The launch of the CSI A500 Growth Index and CSI A500 Value Index provides diversified investment options for the market, reflecting the performance of representative listed companies in various industries in China [2][5]. Group 1: Index Launch Details - The CSI A500 Growth Index and CSI A500 Value Index were officially launched on September 10, 2025, by the China Securities Index Co., Ltd. [2][6]. - Both indices consist of 100 securities selected from the CSI A500 Index sample, which is considered the Chinese equivalent of the S&P 500 [2][3]. - The CSI A500 Growth Index is based on growth factor scores, while the CSI A500 Value Index is based on value factor scores, both using a base date of December 31, 2014, and a base point of 1000 [4][5]. Group 2: Index Composition and Characteristics - The CSI A500 Growth Index focuses on companies with high growth characteristics, using metrics such as average revenue growth rate, average net profit growth rate, and quarterly ROE year-on-year [2][4]. - As of September 9, 2025, the top sectors in the CSI A500 Growth Index include Industrial and Information Technology, each with weights exceeding 20%, while Communication Services, Materials, and Consumer Discretionary exceed 10% [3][5]. - The top ten weighted stocks in the CSI A500 Growth Index include Ningde Times, Zijin Mining, and BYD, with several being recent high-performing stocks [3][5]. Group 3: Value Index Characteristics - The CSI A500 Value Index selects securities based on value factor scores, utilizing metrics such as dividend yield, price-to-book ratio, cash flow to price ratio, and earnings to price ratio [4][5]. - The leading sectors in the CSI A500 Value Index are Financials and Industrials, each with weights over 20%, while Consumer Discretionary and Materials exceed 10% [4][5]. - The top ten weighted stocks in the CSI A500 Value Index include Gree Electric Appliances, China Ping An, and China Construction, indicating a focus on established companies with strong value characteristics [4][5]. Group 4: Upcoming Indices - In addition to the two indices launched, four more indices will be released on September 11, 2025, including the CSI A500 Relative Growth Index, CSI A500 Relative Value Index, CSI A500 Pure Growth Index, and CSI A500 Pure Value Index [6][7]. - The upcoming indices will assess both growth and value characteristics, with specific methodologies for selecting securities based on their respective styles [7].

Core Viewpoint - The article discusses the official launch of two significant indices, the CSI A500 Growth Index and the CSI A500 Value Index, aimed at providing diversified investment options in the market [2][4]. Index Launch - The CSI A500 Growth Index and the CSI A500 Value Index were officially launched on September 10, 2025, by the China Securities Index Co., Ltd. [2][4]. - These indices are derived from the CSI A500 Index, which is considered the Chinese equivalent of the S&P 500, reflecting the overall performance of representative listed companies across various industries [4]. CSI A500 Growth Index - The CSI A500 Growth Index includes 100 securities selected based on the highest growth factor scores, weighted by free float market capitalization adjusted for growth factor scores. The base date is December 31, 2014, with a base point of 1000 [4]. - Key growth indicators used for selection include average revenue growth rate, average net profit growth rate, and year-on-year change in quarterly ROE [4]. - As of September 9, 2025, the industrial and information technology sectors each account for over 20% of the index, while communication services, materials, and consumer discretionary sectors exceed 10% [5]. - The top ten weighted stocks in the CSI A500 Growth Index include Ningde Times, Zijin Mining, and BYD, with several being recent high-performing stocks [5]. CSI A500 Value Index - The CSI A500 Value Index consists of 100 securities selected based on the highest value factor scores, also weighted by free float market capitalization adjusted for value factor scores. The base date is the same as the growth index [4]. - The value indicators for selection include dividend yield, price-to-book ratio, price-to-cash flow ratio, and price-to-earnings ratio [4]. - As of September 9, 2025, the financial and industrial sectors each represent over 20% of the index, while consumer discretionary and materials sectors exceed 10% [6]. - The top ten weighted stocks in the CSI A500 Value Index include Gree Electric, China Ping An, and China Merchants Bank [6]. Differences Between Indices - There are notable differences in industry distribution and top weighted stocks between the CSI A500 Growth Index and the CSI A500 Value Index, reflecting their distinct investment styles [7]. Upcoming Indices - Four additional indices, including the CSI A500 Relative Growth Index and the CSI A500 Pure Growth Index, are set to be launched on September 11, 2025 [9][10]. - The CSI A500 Relative Growth Index will focus on securities with prominent growth characteristics, while the CSI A500 Pure Growth Index will include securities with a comprehensive growth probability of 1 [10].

Group 1 - In September, the market is experiencing a new wave of fund product launches, with a total of 97 new funds expected to be issued, predominantly equity funds, including 52 stock funds, most of which are passive or enhanced index products [1][2] - The China Securities Index Company announced the launch of 6 new indices related to the CSI A500, including various styles such as growth and value, further promoting the development of a refined and strategic index investment system [1][4] Group 2 - Among the new ETFs launching in September are products like E Fund SSE 380 ETF, Huabao Hong Kong Stock Connect Hang Seng China (Hong Kong Listed) 30 ETF, and others, alongside 21 new mixed funds, 17 bond funds, 5 FOFs, 1 QDII, and 1 REIT [2][3] - The new indices, including the CSI A500 Growth Index and CSI A500 Value Index, will help investors identify high-growth potential companies and provide tools for value investors to select quality stocks [3][4] Group 3 - The continuous introduction of new index products, including ETFs, is expected to enhance market effectiveness and activity, offering diverse investment tools for investors with varying risk tolerances and investment goals [5]