Science and technology innovation board industry index adds new recruits!
The Shanghai Stock Exchange announced on May 20 that the Shanghai Stock Exchange and China Securities Index Co., Ltd. will officially release the Shanghai Science and innovation board chip index on June 13, 2022. After liquidity screening, SSE Kechuang board chip index selects no more than 50 securities of Listed Companies in the fields of semiconductor materials and equipment, chip design, chip manufacturing, chip packaging and testing with large market value from the Kechuang board market as index samples to reflect the overall performance of securities of Listed Companies in the chip industry, which is a representative of the Kechuang board market.
Kechuang board has become an important listing place for companies in the chip industry. 57 scientific and technological innovation enterprises in semiconductor chip related industries have been listed on Kechuang board, accounting for about 60% of A-share chip companies. Four of the top ten in the total market value of Kechuang board are semiconductor chip companies. At present, the overall P / E ratio of Kechuang board chip company is 38 times (excluding losses), which is at a very low level since the opening of Kechuang board, and has obvious configuration value.
Kechuang board chip index released
SSE Kechuang board chip index selects securities related to semiconductor materials and equipment, chip design, chip manufacturing, chip packaging and testing from listed companies on Kechuang board as index samples to reflect the overall performance of securities of Listed Companies in representative chip industry on Kechuang board. The index is based on December 31, 2019 and 1000 points.
Unless the total market value of the stock that has not been listed on the Kechuang depository market for more than 5 months and the total market value of the stock that has not been listed on the Kechuang depository market has exceeded the warning conditions of listing on the Kechuang depository market for more than 5 months.
for the securities that meet the investability screening conditions in the sample space, select the securities of listed companies whose businesses involve semiconductor materials and equipment, chip design, chip manufacturing, chip packaging and testing as the samples to be selected; The samples to be selected are ranked from high to low according to the average daily total market value of the past year. When the number of samples to be selected is less than 50, all of them are included in the current samples to be selected; When the number exceeds 50, select the top 50 securities as the index sample
According to the Shanghai Stock Exchange, at present, the five heavyweight shares are Semiconductor Manufacturing International Corporation(688981) , Montage Technology Co.Ltd(688008) , Advanced Micro-Fabrication Equipment Inc.China(688012) , Amlogic (Shanghai) Co.Ltd(688099) and National Silicon Industry Group Co.Ltd(688126) , with a total weight of 44%.
valuation is at an all-time low
The integrated circuit industry is the core of the information technology industry. It is a strategic, basic and leading industry supporting economic and social development and ensuring national security. It is an important development direction determined by many national strategic plans. It is of great significance to realize the self-reliance of science and technology and support the transformation of economy to high-quality development.
With the gradual promotion of domestic substitution and the continuous enhancement of industrial innovation ability and international competitiveness, the whole semiconductor industry will usher in new development opportunities. Chip is the main carrier of integrated circuits. As one of the key areas supported by the science and innovation board, 57 scientific and technological innovation enterprises in chip related industries have been listed on the science and innovation board, accounting for half of similar A-share companies. Four of the top 10 companies in the total market value of Kechuang board are chip industry companies.
Kechuang board has gathered a number of leading chip industry enterprises that have broken through key core technologies and high market recognition, covering industrial chain links such as design, manufacturing, materials, equipment and sealing and testing. The industrial agglomeration effect is becoming more and more obvious, forming a development pattern with complete industrial functions. The growth of enterprises related to Kechuang board chips is outstanding. In 2021, the annual report net profit and operating revenue increased by 181% and 43% year-on-year respectively, and all companies achieved positive growth in operating revenue; R & D investment continued to increase, with an annual R & D investment of 17.66 billion yuan, a year-on-year increase of 15.4%. R & D investment accounted for 15.1% of operating revenue. R & D efforts ranked among the forefront of A-share companies in the same industry, providing strong support for the high-quality development of the industrial chain.
At present, the overall P / E ratio of Kechuang board chip company is 38 times (excluding losses), which is at a very low level since the opening of Kechuang board, and has obvious configuration value.
Insiders pointed out that with the steady progress of the construction of the science and innovation board and the continuous expansion of the number of securities, investors’ diversified observation and investment demand have increased significantly. It is necessary to enrich the index system of the science and innovation board to comply with the voice of the market. The industry theme is a relatively mature and widely used index type. The preparation scheme is relatively transparent, clear and easy to understand. It is also one of the main development directions in the index field in recent years. The sampling, weighting, adjustment mechanism and other rules of Kechuang chip index are in line with the international mainstream practices, basically consistent with the published Kechuang 50, Hunan Creator Information Technologies Co.Ltd(300730) , Kechuang biological index, and widely accepted by investors.
As a subdivision ruler reflecting the trend of the important theme of the science and innovation board, the introduction of the science and innovation chip index will have three “beneficial” positive effects. It is conducive to further increase the observation dimension of the science and innovation board. The index release can enrich the observation dimension of all kinds of investors and the analysis dimension of financial media; It is conducive to serving the majority of investors. In the future, the issuance of index products will provide investors with richer tools to participate in the development of science and innovation board and share economic growth, so as to better meet the needs of asset allocation and wealth management; It is conducive to optimizing the allocation of resources. The science and innovation theme index focuses on leading companies in strategic emerging industries and helps to guide resources to further tilt towards hard technology companies represented by the science and innovation board.
“Kechuang chip is another major index characterizing the Kechuang board market after Kechuang 50, Hunan Creator Information Technologies Co.Ltd(300730) , Kechuang biology, which will further enrich investors’ observation and investment targets.” The Shanghai Stock Exchange said that in the future, the Shanghai Stock Exchange will continue to improve the index system of the science and innovation board, and advocate the concept of value investment, long-term investment and rational investment through index investment.
