Also known as: 科创创业50 · SH931643 Index (Bloomberg) · 931643 (CSI code) · .CSI931643 (RIC)
At a glance
- Review frequencyQuarterly
- Constituent count50
- Buffer40 / 60
| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| M1 Identity, objective, classification · 14 fields | |||
| Local short name | 科创创业50 | 指数名称：中证科创创业50 指数指数简称：科创创业50英文名称：CSI STAR&CHINEXT 50 IndexOpen p.1 ↗ |
The local-language short name is Kechuang Chuangye 50. |
| Index name | CSI STAR&CHINEXT 50 Index | 英文名称：CSI STAR&CHINEXT 50 Index英文简称：STAR&CHINEXT 50指数代码：931643Open p.1 ↗ |
The official English index name is CSI STAR&CHINEXT 50 Index. |
| Index short name | STAR&CHINEXT 50 | 英文名称：CSI STAR&CHINEXT 50 Index英文简称：STAR&CHINEXT 50指数代码：931643Open p.1 ↗ |
The official English short name is STAR&CHINEXT 50. |
| Local index name | 中证科创创业50 指数 | 指数名称：中证科创创业50 指数指数简称：科创创业50英文名称：CSI STAR&CHINEXT 50 IndexOpen p.1 ↗ |
The local-language index name is 中证科创创业50 Index. |
| Index code | 931643 | 英文简称：STAR&CHINEXT 50指数代码：931643Open p.1 ↗ |
The index code is 931643. |
| Administrator | 中证指数有限公司 | 中证科创创业50 指数编制方案Open p.1 ↗ |
The index provider is inferred to be China Securities Index Co., Ltd. from the CSI index methodology context. |
| Index family | 中证科创创业50 | 中证科创创业50 指数从科创板和创业板中选取市值较大的50 只新兴产业上市公司证券作为指数样本Open p.1 ↗ |
The index belongs to the CSI STAR and ChiNext 50 index family identified by the methodology title. |
| Base date | 2019-12-31 | 该指数以2019 年12 月31 日为基日，以1000 点为基点。Open p.1 ↗ |
The index base date is December 31, 2019. |
| Base value | 1,000 points | 该指数以2019 年12 月31 日为基日，以1000 点为基点。Open p.1 ↗ |
The index base value is 1000 points. |
| Benchmark type | Not stated | — (not found verbatim in the PDF) |
The document does not classify the index as a regulated, significant, or non-significant benchmark. |
| Objective | 从科创板和创业板中选取市值较大的50只新兴产业上市公司证券作为指数样本，以反映上述板块中代表性新兴产业上市公司证券的整体表现。 | 中证科创创业50 指数从科创板和创业板中选取市值较大的50 只新兴产业上市公司证券作为指数样本，以反映上述板块中代表性新兴产业上市公司证券的整体表现。Open p.1 ↗ |
The index selects 50 large-market-capitalization emerging-industry listed securities from the STAR Market and ChiNext to reflect the overall performance of representative emerging-industry listed securities on those boards. |
| Market classification | China A | 中证科创创业50 指数的样本空间由满足以下条件的科创板和创业板上市的股票和红筹企业发行的存托凭证组成Open p.1 ↗ |
The index covers listed securities on mainland China's STAR Market and ChiNext boards. |
| Size segment | Large | 中证科创创业50 指数从科创板和创业板中选取市值较大的50 只新兴产业上市公司证券作为指数样本Open p.1 ↗ |
The index targets larger-market-capitalization companies, selecting 50 such securities from the two boards. |
| Index family type | Thematic | 选取市值较大的50 只新兴产业上市公司证券作为指数样本，以反映上述板块中代表性新兴产业上市公司证券的整体表现Open p.1 ↗ |
The index is thematic because it focuses on representative emerging-industry listed companies. |
| M2 Universe · 5 fields | |||
| Eligible universe conditions | Securities must be listed on STAR or ChiNext, meet the listing-history requirement unless ranked in the top 30 by average daily total market capitalization, and not be ST or *ST. | 中证科创创业50 指数的样本空间由满足以下条件的科创板和创业板上市的股票和红筹企业发行的存托凭证组成： （1）上市时间超过一个季度Open p.1 ↗ |
The sample space comprises STAR and ChiNext stocks and red-chip depository receipts that satisfy the listing-time and non-ST conditions. |
| Markets | China | 中证科创创业50 指数的样本空间由满足以下条件的科创板和创业板上市的股票和红筹企业发行的存托凭证组成Open p.1 ↗ |
The sample space consists of securities listed on the STAR Market and ChiNext in mainland China. |
| Boards | STAR, ChiNext | 样本空间由满足以下条件的科创板和创业板上市的股票和红筹企业发行的存托凭证组成Open p.1 ↗ |
Eligible securities must be listed on the STAR Market or ChiNext. |
| Security types | A share, Dr | 科创板和创业板上市的股票和红筹企业发行的存托凭证组成Open p.1 ↗ |
The universe includes stocks listed on STAR Market and ChiNext and depository receipts issued by red-chip enterprises. |
| Exclusions | ST, *ST | （2）非ST、*ST 证券。Open p.1 ↗ |
ST and *ST securities are excluded from the sample space. |
| M3 Eligibility screens · 4 fields | |||
| Trading history | Minimum value: 3 months; Exceptions: A security listed for one quarter or less may enter the sample space if its average daily total market capitalization since listing ranks among the top 30 in the Shanghai and Shenzhen markets | （1）上市时间超过一个季度，除非该证券自上市以来的日均总市值在沪深市场中排名前30 位；Open p.1 ↗ |
Securities must have been listed for more than one quarter, unless their average daily total market capitalization since listing ranks in the top 30 in the Shanghai and Shenzhen markets. |
| Liquidity screen | Metric: Turnover rank (%); Window: Past one year; Threshold: ranked in the top 80% of the sample space by average daily turnover | 过去一年日均成交金额排名位于样本空间前80%。Open p.2 ↗ |
The security's average daily trading amount over the past year must rank within the top 80% of the sample space. |
| Minimum size | Metric: Rank; Threshold: top 30 by average daily total market capitalization in the Shanghai and Shenzhen markets since listing | 除非该证券自上市以来的日均总市值在沪深市场中排名前30 位Open p.1 ↗ |
A new listing may bypass the ordinary listing-history requirement if its average daily total market capitalization since listing ranks in the top 30 in the Shanghai and Shenzhen markets. |
| Business or ESG exclusions | ST, *ST | （2）非ST、*ST 证券。Open p.1 ↗ |
Securities designated ST or *ST are excluded, while no separate ESG exclusion is stated. |
| M4 Selection and constituent count · 5 fields | |||
| Eligible candidate industry scope | 新一代信息技术产业, 高端装备制造产业, 新材料产业, 生物产业, 新能源汽车产业, 新能源产业, 节能环保产业, 数字创意产业 | 选取新一代信息技术产业、高端装备制造产业、新材料产业、生物产业、新能源汽车产业、新能源产业、节能环保产业、数字创意产业等新兴产业上市公司证券作为待选样本Open p.2 ↗ |
Candidate samples are securities of companies in listed emerging industries such as next-generation information technology and high-end equipment manufacturing. |
| Selection method | Rank by metric | 将待选样本按照过去一年日均总市值由高到低排名，选取排名前50 的证券作为指数样本。Open p.2 ↗ |
Eligible emerging-industry securities are ranked by a metric and the highest-ranked securities are selected. |
| Ranking metrics | Name: Average daily total market capitalization; Window: Past one year; Direction: Descending; Step order: 2 | 将待选样本按照过去一年日均总市值由高到低排名，选取排名前50 的证券作为指数样本。Open p.2 ↗ |
Candidate securities are ranked from highest to lowest by their average daily total market capitalization over the past year. |
| Target constituent count | 50 | 将待选样本按照过去一年日均总市值由高到低排名，选取排名前50 的证券作为指数样本。Open p.2 ↗ |
The index selects the 50 highest-ranked securities as constituents. |
| Industry neutrality rule | Candidates must belong to specified emerging industries, but no industry-neutral weighting or balancing rule is stated. | 选取新一代信息技术产业、高端装备制造产业、新材料产业、生物产业、新能源汽车产业、新能源产业、节能环保产业、数字创意产业等新兴产业上市公司证券作为待选样本Open p.2 ↗ |
Selection is restricted to designated emerging industries, but the document does not specify neutrality or balancing across industries. |
| M5 Weighting and capping · 3 fields | |||
| Free float factor | Method: Banded; Bands: To: 15; Method: Round the free-float ratio up to the nearest whole percentage value, From: 15; To: 20; Factor: 0.2, From: 20; To: 30; Factor: 0.3, From: 30; To: 40; Factor: 0.4, From: 40; To: 50; Factor: 0.5, From: 50; To: 60; Factor: 0.6, From: 60; To: 70; Factor: 0.7, From: 70; To: 80; Factor: 0.8, From: 80; Factor: 1; Examples: Security: A; Free float ratio (%): 9; Weighting ratio (%): 9; Adjusted shares: 9,000, Security: B; Free float ratio (%): 43.8; Weighting ratio (%): 50; Adjusted shares: 4,000, Security: C; Free float ratio (%): 82; Weighting ratio (%): 100; Adjusted shares: 5,000 | 除非特别说明，中证指数在计算自由流通股本时，采用分级靠档的方法，根据自由流通量所占证券总股本的比例（即自由流通比例）赋予证券总股本一定的加权比例From CSI Free Float Rules for Equity Indices ↗ |
Unless otherwise specified, a banded weighting factor is applied; free-float ratios up to 15% are rounded up to the nearest whole percentage, while higher bands use fixed factors from 20% to 100%. |
| Shares outstanding | Total issued shares of the security; free-float-adjusted share capital is total share capital multiplied by the banded weighting factor. | 自由流通量等于证券总股本剔除限售股份以及以下基本不流通的股份From CSI Free Float Rules for Equity Indices ↗ |
Free float is measured against the security's total share capital, and adjusted share capital is calculated using a weighting factor applied to total share capital. |
| Divisor adjustment rule | The new divisor equals the prior divisor multiplied by the post-adjustment adjusted market capitalization divided by the pre-adjustment adjusted market capitalization, calculated after the close before the change becomes effective. | 为保证指数的连续性，当指数样本、股本结构发生变化或样本的市值出现非交易因素的变动时，指数在变动生效日前一日收盘后采用除数修正法修正原除数。From CSI Calculation Rules for Equity Indices ↗ |
The divisor is corrected after the close before the effective date so that the new divisor equals the old divisor times the ratio of adjusted post-change market value to pre-change market value. |
| M6 Review and rebalance schedule · 6 fields | |||
| Review frequency | Quarterly | 指数样本每季度调整一次，样本调整实施时间为每年3 月、6 月、9 月和12月的第二个星期五的下一交易日。Open p.2 ↗ |
Index constituents are reviewed and adjusted once per quarter. |
| Review types | Quarterly review, Ad hoc | 指数样本每季度调整一次，样本调整实施时间为每年3 月、6 月、9 月和12月的第二个星期五的下一交易日。Open p.2 ↗ |
The index has quarterly regular reviews and ad hoc adjustments in special circumstances. |
| Review months | 3, 6, 9, 12 | 指数样本每季度调整一次，样本调整实施时间为每年3 月、6 月、9 月和12月的第二个星期五的下一交易日。Open p.2 ↗ |
Quarterly constituent adjustments occur in March, June, September, and December. |
| Effective date rule | The next trading day after the second Friday of March, June, September, and December. | 指数样本每季度调整一次，样本调整实施时间为每年3 月、6 月、9 月和12月的第二个星期五的下一交易日。Open p.2 ↗ |
Constituent changes take effect on the next trading day after the second Friday in March, June, September, and December. |
| Weight reset frequency | Quarterly | 权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期调整日前，权重因子一般固定不变。Open p.3 ↗ |
Weighting factors are adjusted with the quarterly constituent review and generally remain fixed until the next scheduled adjustment date. |
| Data cutoff rule | For commonly used periodic review cycles, the general data cutoff is normally the last calendar day of the second calendar month before the periodic adjustment effective date. | 通常情况下适用常用定期调整周期的指数的通用数据截止日为定期调整生效日前第二个自然月的最后一个自然日。From CSI Constituent Adjustment Rules for Equity Indices ↗ |
For commonly used review cycles, base data generally use the last calendar day of the second natural month before the adjustment effective date as the cutoff. |
| M7 Buffers and turnover control · 2 fields | |||
| Buffer zone | Entry rank: 40; Exit rank: 60 | 采用缓冲区规则，排名在前40 名的候选新样本优先进入指数，排名在前60 名的老样本优先保留。Open p.2 ↗ |
A buffer rule gives priority entry to new candidates ranked in the top 40 and priority retention to existing constituents ranked in the top 60. |
| Maximum turnover per review | 10% of constituents | 每次调整数量比例原则上不超过10%。Open p.2 ↗ |
The number of constituent changes at each adjustment is in principle no more than 10% of constituents. |
| M8 Corporate actions, IPOs, ad-hoc changes · 4 fields | |||
| Ad-hoc deletion | Delisting | 特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样本中剔除。Open p.3 ↗ |
A constituent is removed from the index on an ad hoc basis when it is delisted. |
| Merger spinoff rules | Acquisitions, mergers, spin-offs, and similar corporate events are handled by reference to the calculation and maintenance rules. | 样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。Open p.3 ↗ |
When constituent companies undergo acquisitions, mergers, spin-offs, or similar events, treatment follows the calculation and maintenance rules. |
| Corporate actions guide ref | 计算与维护细则 | 样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。Open p.3 ↗ |
The document refers corporate-event treatment to the calculation and maintenance rules. |
| Deletion price | Default price: latest closing price; Major negative event suspended price: 0.00001; Currency for a share example: CNY | 原则上，以最新收盘价剔除指数样本。当决定剔除指数样本时，剔除证券处于停牌状态且停牌原因为触及交易类强制退市情形等重大负面事件的，一般以系统最低价格（目前为0.00001）剔除。From CSI Constituent Adjustment Rules for Equity Indices ↗ |
Constituents are generally removed at the latest closing price; if a removed security is suspended because of a trading-related mandatory delisting trigger or other major negative event, it is removed at the system minimum price, currently 0.00001. |
| M9 Calculation and return variants · 13 fields | |||
| Adjusted market capitalisation formula | adjusted_market_capitalisation = sum(security_price × adjusted_share_count × weight_factor) | 其中，调整市值＝∑(证券价格×调整股本数×权重因子)。Open p.2 ↗ |
Adjusted market capitalisation is the sum of each security's price multiplied by its adjusted share count and weight factor. |
| Index formula base multiplier | 1,000 | 报告期指数= 报告期样本的调整市值 × 1000除数Open p.2 ↗ |
The index formula multiplies the samples' adjusted market capitalisation by 1,000 and divides by the divisor. |
| Weight factor range | 0, 1 | 权重因子介于0 和1 之间Open p.2 ↗ |
The weight factor ranges from 0 to 1. |
| Single constituent weight limit | 10% | 以使单个样本权重不超过10%Open p.2 ↗ |
Weight factors are set so that no single sample has a weight exceeding 10%. |
| Single board weight limit | 80% | 单个板块权重占比不超过80%。Open p.2 ↗ |
Weight factors are set so that the weight of any single board does not exceed 80%. |
| Formula type | Divisor | 指数计算公式为：报告期指数= 报告期样本的调整市值 × 1000除数其中，调整市值＝∑(证券价格×调整股本数×权重因子)。Open p.2 ↗ |
The index is calculated using adjusted market capitalisation divided by a divisor and multiplied by 1,000. |
| Divisor adjustment | Other events governed by calculation and maintenance rules | 调整股本数的计算方法、除数修正方法参见计算与维护细则。Open p.2 ↗ |
The divisor correction method is governed by the separate calculation and maintenance rules, but specific trigger events are not listed in this section. |
| Price source | Real-time prices come from exchange market-data systems such as SSE and SZSE or from data vendors designated by CSI; the latest trade is used when traded and the opening reference price is used when there is no trade. | 指数的实时计算，样本实时成交价格来自上海证券交易所、深圳证券交易所等交易所行情系统，或来自由中证指数不时指定的数据供应商提供的交易行情。From CSI Calculation Rules for Equity Indices ↗ |
Real-time calculation uses exchange or designated-vendor market prices, taking the latest traded price or, if no trade occurs, the opening reference price. |
| Calculation frequency | Real-time index updates follow the interface definition used by CSI, the exchange, or another third-party market-data system; closing indices are published every index trading day. | 实时指数计算和发布：指数更新频率以中证指数通、交易所或其他第三方行情发布系统接口定义为准。收盘指数计算和发布：指数发布频率为指数交易日每日发布。From CSI Calculation Rules for Equity Indices ↗ |
Real-time indices are updated according to the relevant publication interface, and closing indices are calculated and published on each index trading day. |
| Return variants | PR, GTR, NTR | 价格指数以样本的市场价格，计算指数的表现。为满足投资者的需要，中证指数同时计算部分指数的全收益指数和净收益指数。From CSI Calculation Rules for Equity Indices ↗ |
The rulebook identifies price, gross total return, and net total return indices, with gross and net versions calculated for some indices. |
| Withholding tax basis | A 10% cash-dividend tax rate is generally used for Shanghai, Shenzhen, Beijing, and Hong Kong securities. | 对沪深京港证券，现金分红的税率一般设置为10%。From CSI Calculation Rules for Equity Indices ↗ |
For Shanghai, Shenzhen, Beijing, and Hong Kong securities, the cash-dividend tax rate is generally set at 10%. |
| Dividend treatment | Gross total return indices reinvest pre-tax cash dividends and net total return indices reinvest after-tax cash dividends on the ex-dividend date; the price index does not adjust the divisor for cash dividends. | 全收益指数和净收益指数是价格指数的辅指数，与价格指数的区别在于全收益指数、净收益指数的计算中考虑了样本税前、税后现金红利的再投资收益，不会在样本除息日按照样本分红金额自然回落From CSI Calculation Rules for Equity Indices ↗ |
Gross and net total return indices assume reinvestment of pre-tax and after-tax cash dividends on the ex-dividend date, while the price index falls naturally on cash dividends. |
| Recalculation policy | Where recalculation or republication is involved, CSI will promptly notify index clients; in complex cases CSI reserves discretion to recalculate the index or republish related data products. | 公司保留在复杂情况下自行决定重新计算指数或重新发布相关数据产品的权利。涉及指数重新计算或发布的情形，公司将及时向指数客户发布通知。From CSI The Primary Policy of Index Management ↗ |
If an index is recalculated or related data products are republished, CSI will promptly notify index clients, with the decision reserved to CSI in complex situations. |
| M10 Governance, change policy, disclosure · 10 fields | |||
| Oversight body | Index Business Supervisory Committee, Index Expert Committee | 指数业务监督委员会负责定期对指数编制方案审阅工作进行监督。From CSI The Primary Policy of Index Management ↗ |
The Index Business Supervisory Committee supervises methodology review, rule changes, index terminations, and complaint reports; the Index Expert Committee provides recommendations and discusses Category I index terminations. |
| Discretion points | decide whether and how to correct an index error within six months, decide whether to recalculate an index or republish related data products in complex cases, terminate an index after prudent evaluation, consider providing a replacement index when regulatory requirements and feasibility permit, issue emergency notices depending on the impact of a calculation abnormality, use targeted rather than public consultation where appropriate for material changes | 对于六个月以内的指数错误，需综合评估指数错误影响、指数产品情况、距离下次指数调整时间、指数可投资性与可复制性等因素，慎重决定处理方案。From CSI The Primary Policy of Index Management ↗ |
CSI retains discretion over error handling and recalculation, index termination after evaluation, replacement-index considerations, emergency notification based on impact, and consultation format in appropriate cases. |
| Methodology review frequency | periodic internal review | 公司负责根据内部定期审阅、审视市场环境、听取指数专家委员会建议、接受市场反馈、外部投诉等途径对指数规则进行必要的修订。From CSI The Primary Policy of Index Management ↗ |
Index rules are revised based on periodic internal reviews, market developments, expert committee advice, market feedback, and complaints; the review interval is not specified. |
| External review | Material changes: Market opinions must be sought in advance; Category I indices: Public consultation is the principle; targeted consultation may be used with scope commensurate with the index's actual impact; Non Category I indices: Targeted consultation is the principle | 指数规则修订涉及的重大变更应事先征求市场意见。其中，一类指数1的重大变更原则上采用公开征求意见的形式，若采用定向方式的，征求范围应与指数的实际影响相适应；非一类指数的重大变更原则上采用定向征求意见的形式。From CSI The Primary Policy of Index Management ↗ |
Material rule changes require prior market consultation: Category I indices normally use public consultation, while non-Category I indices normally use targeted consultation. |
| Material change definition | Material changes are referenced as major changes to index rules, but the document does not define the criteria for materiality. | 指数规则修订涉及的重大变更应事先征求市场意见。From CSI The Primary Policy of Index Management ↗ |
The rulebook requires market consultation for material index-rule changes but does not state a definition or criteria for materiality. |
| Consultation procedure | Material changes are consulted with the market before implementation; Category I indices normally use public consultation, non-Category I indices normally use targeted consultation, and targeted scope must match the index's actual impact. | 其中，一类指数1的重大变更原则上采用公开征求意见的形式，若采用定向方式的，征求范围应与指数的实际影响相适应；非一类指数的重大变更原则上采用定向征求意见的形式。From CSI The Primary Policy of Index Management ↗ |
CSI conducts prior market consultation for material changes, normally publicly for Category I indices and on a targeted basis for other indices, with targeted scope aligned to impact. |
| Notice period | 1 business day | 第十七条 指数规则的修订根据指数分类不同须在正式实施前至少一个交易日于公司官网进行公告，公告内容包括指数规则修订的背景、内容及实施时间表。From CSI Measures for the Implementation of Change of Index Methodologies ↗ |
Unless otherwise specified, rule revisions must be announced on the company website at least one trading day before formal implementation. |
| Error correction policy | Error definition: A published index level deviates from the correct level; Causes: data errors, maintenance errors, software or hardware technical failures, other causes; Older than six months: generally not handled; Within six months factors: impact of the error, index-linked products, time until the next index adjustment, index investability and replicability; Complex cases: CSI reserves the right to decide whether to recalculate the index or republish related data products | 指数错误指已向市场发布的指数点位与正确点位发生偏离。引起指数错误的原因包括但不限于：数据错误、维护错误、软硬件技术故障等。公司经过审慎评估，可能对指数错误进行修正，并遵循以下原则：如指数错误发现时距离发生已超过六个月，一般不予处理。From CSI The Primary Policy of Index Management ↗ |
Errors are deviations between published and correct levels; errors older than six months are generally not addressed, while newer errors are assessed by impact, linked products, timing, investability, and replicability, and complex cases may be recalculated or republished at CSI's discretion. |
| Change announcement | market disclosure before formal implementation of rule revisions, CSI Index Express, Exchanges, other third-party market-data publication systems, CSI website, CSI data service platform, notices to index clients for recalculation or republication | 指数规则修订经内部评审后，将在正式实施前向市场披露。From CSI The Primary Policy of Index Management ↗ |
CSI discloses rule revisions to the market before implementation, publishes levels through market-data systems and its website or data platform, and notifies clients for recalculations or republication. |
| Cessation policy | After prudent evaluation, CSI may terminate an index, meaning cessation of calculation, maintenance, and external publication; factors outside CSI's control may, in extreme cases, lead to termination. | 公司经过审慎评估后，可能会进行指数终止的操作，即终止指数的计算、维护和对外发布。From CSI The Primary Policy of Index Management ↗ |
An index may be terminated after prudent evaluation, stopping its calculation, maintenance, and external publication; extreme market, data, liquidity, environmental, or geopolitical factors may also result in termination. |
Open points · 36Model-written, for reference
- 1ISIN is not stated.
- 2Bloomberg, Refinitiv, Wind, or other third-party vendor tickers are not stated.
- 3A separate calculation agent is not stated.
- 4Parent index is not stated; the document defines a sample space directly rather than naming a parent index.
- 5Launch date is not stated; only the base date is provided.
- 6Calculation currency is not stated.
- 7Methodology version and methodology date are not stated.
- 8Intended use is not stated.
- 9Minimum free-float percentage is not stated.
- 10Foreign ownership limit or foreign-room screen is not stated.
- 11Minimum voting rights are not stated.
- 12Minimum share price is not stated.
- 13Financial profitability or financial-health screens are not stated separately from the ST/*ST exclusion.
- 14Suspension treatment at review is not stated.
- 15Abnormal or extreme price increase screen is not stated.
- 16The exact exchanges are not named explicitly, although the text references the Shanghai and Shenzhen markets and the STAR and ChiNext boards.
- 17No tie-breaking rule is stated for securities with equal average daily total market capitalization rankings.
- 18No reserve list size or replacement-candidate rule is stated.
- 19No weighting scheme, free-float factor, share-count source, weight cap, group cap, sector cap, country cap, cap timing, or divisor adjustment rule is stated.
- 20No data cutoff or ranking reference-date rule was stated.
- 21No announcement timing or disclosure-channel rule for review results was stated.
- 22No separate rebalance frequency distinct from the quarterly review was stated.
- 23No size-segment buffer or liquidity buffer for existing constituents was stated.
- 24No fast-entry rule for large new listings was stated.
- 25No replacement policy or reserve-list rule for ad hoc deletions was stated.
- 26No deletion price for suspended or removed securities was stated.
- 27No share or free-float change threshold was stated.
- 28The cited corporate-actions guide is referenced only by the generic title 计算与维护细则; no full document name or version is provided.
- 29M9 does not specify the price source or treatment of securities without traded prices.
- 30M9 does not state the calculation frequency or real-time publication interval.
- 31M9 does not state the number of decimal places in the published index level.
- 32M9 does not identify price, gross total return, or net total return variants.
- 33M9 does not specify a withholding-tax basis or dividend reinvestment treatment.
- 34M9 does not enumerate the corporate-action or share-change events that trigger divisor adjustments.
- 35M9 does not provide market disruption, market closure, or suspended-market calculation rules.
- 36M9 does not state a recalculation or error-correction policy.
Read by a language model (doubao-seed-2.1-pro) on 2026-10-03 · prompt 1.2 · schema 1 · 65 of 65 quotes found word for word in the PDF · includes general rules: Calculation Rules for Equity Indices v1.1, Free Float Rules for Equity Indices v1.1, Constituent Adjustment Rules for Equity Indices v1.2, The Primary Policy of Index Management v3.0, Measures for the Implementation of Change of Index Methodologies v3.0
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