Group 1 - The core viewpoint of the article emphasizes the value of the newly launched Science and Technology Innovation Comprehensive Index (科创综指) in providing a more comprehensive representation of the STAR Market compared to existing indices [1][2]. - The Science and Technology Innovation Comprehensive Index covers 565 constituent stocks, achieving a market capitalization coverage of approximately 97%, which is significantly higher than the coverage of other indices like 科创50 (48%), 科创100 (25%), and 科创200 (17%) [1][4]. - The index aims to include "dark horse" companies that play a crucial role in technological innovation, thus reflecting the overall situation of China's "hard technology" sector more comprehensively [2]. Group 2 - The Science and Technology Innovation Comprehensive Index demonstrates a superior risk-return profile, with a cumulative increase of 11.28% since its base date (December 31, 2019), outperforming other indices in terms of annualized Sharpe ratio and Calmar ratio [3][4]. - The annualized Sharpe ratio for the Science and Technology Innovation Comprehensive Index is 0.19, compared to 0.10 for 科创50, 0.09 for 科创100, and negative for 科创200, indicating better risk-adjusted returns [4].