Three new boards 5 analysis full of leading indexes 90 focusing on closed stock list! – 100 million yuan, stock samples, income, index, million yuan – Panorama Network


2019-01-19 20:12:21 Source: Panorama

As an important step to deepen the reform of the New Third Council, the New Third Council Leadership Index has received much attention from the market as soon as it was launched.

On January 14, the New Third Council Leadership Index was launched for the first time. From the perspective of sample stock transactions, the secondary market of the three-board index series is more representative.

On January 18, the top five indices only had one point above the benchmark, and four other indices had fallen below the benchmark. In terms of turnover, only the innovative index reached 8.59 million yuan, and the others were relatively flat. In this case, the industry believes that the market requires a process of understanding and adapting to the new index, and the market is still unpredictable.

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However, industry insiders also believe that the list of layers displayed may be hidden in a sample stock of five major indices.

Based on this background, after reading stock samples from the five main indices, it was found that the overall score of the innovation index was the strongest, and stocks that repeatedly included the stock sample index deserved special attention.

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Industry index has 4 highlights

Among the five main indices, in addition to the innovation index, four other main index selection methods differ from the past, not focusing on trade attributes such as turnover and total market value, but focusing on operating income and R & D indicators. There are no requirements for transactions, the focus is on highlighting industry representation.

In fact, various stock-A indicators (SSE 50, CSI 300, etc.) basically use turnover indicators and total market values ​​to measure index components. The three-board market index and three-board index also adopt the same approach. .

However, after nearly six years of development, the number of companies registered with the NEEQ has exceeded 10,000. Markets generally believe that the existing Third Board Index is relatively single and difficult to effectively reflect the different characteristics of listed companies.

The Zhuhai Essence Securities Team believes that the adoption of the scale of income + the level of R & D spending for the selection of leading companies is an innovation in the Chinese capital market.

The three main indexes of the three-plate leader, three-board manufacturing, three-board services, and three-board medicine are compared with traditional secondary market indices:

Adopt income scale indicators and the level of R & D expenditures to select leading companies to include high-quality companies without inactive transactions or transactions, and expand the scope of quality standards;

Do not use market value to measure, avoid problems with market value distortions and long trading intervals from the New Third Board Company;

The sample stock review cycle is semi-annual, which guarantees the stability of sample stocks to a certain extent;

A list of alternatives is made, taking into account market-specific issues of delisting that are often done by New Third Board Companies. The use of alternative lists ensures that the index can be quickly adjusted to improve the sustainability of the index.


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