Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. announced that the SME-CHINEXT High and New Technology Enterprises Index (Code: 399652, Abbreviation: SME-CHINEXT Hi-New Tech) was launched on September 17 2012, taking June 30 2011 as the base date and 1000 points as the base value.
High and New Technology Enterprises refer to those who focus on continuous research and development and transformation of technical achievements, forming core technologies with self-owned intellectual property rights and those who carry out operational activities based on it in the high-tech field which is highly supported by the country. High and new technology enterprises promote technical progress and development of science and technology in the country, meanwhile they enjoy a number of national encouragement policies. SZSE multi-layer capital market is the cradle for the growth of high-new tech enterprises. As of the end of July, there are 512 and 319 high-new tech enterprises listed on the SME board and ChiNext board respectively, accounting for 74% and 92% respectively.
The indexing scheme shows that the SME-CHINEXT High and New Technology Enterprises Index takes the national promulgated Management Measures for Recognition of High and New Technology Enterprises as reference, it sorts out stocks of enterprises who are recognized as National High-New Tech Enterprises, and selects the top 50 stocks as sample according to the ranking of average R&D expense ratio (ratio of R&D expense to operation revenue) in the past three years.
The SME-CHINEXT High and New Technology Enterprises Index takes R&D expense ratio as indicator, it effectively fits with the advanced idea of “science and technology are the primary productive forces”, demonstrates the market characteristics of SME board and ChiNext board, and provides more diversified investment products for the market’s thematic investment.
Regarding the details of the index, please refer to the official website of Shenzhen Stock Exchange (www.szse.cn) and CNINFO Index (index.cninfo.com.cn).