In order to promote the high-quality development of indexing investment in the Shenzhen market and strengthen the role of index representation, SZSE and subsidiary Shenzhen Securities Information Co., Ltd. announced on 11 July 2025 that they revised the compilation plan of ChiNext Composite Index (referred to as ChiNext Composite Index, code 399102), which has been formally implemented on 25 July 2025. This move is also aimed to enhance the investability of ChiNext Composite Index and better meet the demand for capital allocation.

The ChiNext Composite Index, released in August 2010, takes all stocks listed on the ChiNext as sample stocks to reflect the overall trend of the ChiNext market. By now, it has been running smoothly for nearly 15 years, with a cumulative increase of 197% and an annualized returns of 7.6%. Since this year, the index has increased by 10%, showing excellent long-term earnings performance, balanced industry distribution, outstanding growth and relatively dispersed weighting of individual stocks.

In this revision, we fully listen to market opinions and suggestions and draw on the innovative concepts of broad-based index compilation at home and abroad in recent years. The revision includes: First, the monthly exclusion mechanism for stocks with risk warning is introduced, and the sample stocks subject to risk warnings (ST or *ST) imposed by the stock exchange will be excluded. Second, the negative ESG exclusion mechanism is brought in to exclude the sample stocks with CNI ESG rating of C or below. After assessment, the revision is conducive to promoting the quality of sample stocks while not changing the positioning and operation characteristics of the index, having little impact on the index products.

After the revision, the ChiNext Composite Index will have 1,316 sample stocks that cover 95% of ChiNext-listed companies and have a total market value coverage of 98%. Among them, the top three industries are industry (32%), IT (26%) and medical and health (12%). The weights of high-tech enterprises and emerging industries are 92% and 79% respectively, while that of advanced manufacturing, digital economy and green and low-carbon is 74%. As a whole, this fully demonstrates the achievements of ChiNext in serving sci-tech innovation and new quality productivity development.

In recent years, SZSE has continued to promote the development of core broad-based indices, key industrial chain indices and related products based on the characteristics and advantages of the ChiNext market, guiding funds to focus on high-quality technology enterprises. At present, the "ChiNext Series" index covers broad-based, thematic, strategies, ESG and other major types of indexes, tracking products totaling more than 200 billion yuan. Next, in accordance with the unified deployment of CSRC, SZSE will focus on serving the national major strategies and key areas, continue to improve and strengthen the "ChiNext Series" index and index products, and enrich the supply of high-quality investment targets, thus providing diversified options for medium and long-term capital allocation and giving a leg up to the high-quality development of the capital market.