As we all know, the Science and Technology Innovation Board, which was established in July 2019, was originally intended to support the development and growth of the domestic technology industry, and since its establishment, more than 550 companies have been listed, with a market value of more than 6 trillion yuan.
In terms of sector indexes, the most well-known is the Science and Technology Innovation 50, and the Science and Technology Innovation 100 Index was launched this year, so is the new Science and Technology Innovation 100 Index worth it**.
The reason why the science and technology innovation board has attracted much attention in recent years is that on the one hand, it is the important strategic position of science and technology itself, and on the other hand, the domestic high-tech field has been suppressed, and it is imminent to break through the "stuck neck".
The listed companies on the Science and Technology Innovation Board are closely related to this background, and the listed companies are basically core technology enterprises in line with the national strategy, and the constituent stocks have a significant scientific and technological growth style, and the proportion of sub-sectors such as semiconductors and medical devices is high.
Among them, there are 94 semiconductor companies, accounting for about 17%, followed by medical devices (9%) and software development (6%), which have distinct "hard technology" attributes, have key core technologies, meet the positioning of the science and technology innovation board and the national strategic requirements, and have broad prospects for future development.
In terms of industry categories, more than 40% of the enterprises belong to the new generation of information technology industry, followed by the biological industry (20%) and high-end equipment manufacturing industry (17%), and the top three industries are all strategic emerging industries, accounting for more than 77% in total.
The Science and Technology Innovation Board is a science and technology business incubator, its positioning determines its growth, science and technology change the world, and the establishment of the Science and Technology Innovation Board is to cultivate technology companies with core technologies, so this is a plate that belongs to the sea of stars.
In addition, after the adjustment, the current valuation of the Science and Technology Innovation Board is already at a relatively low level, and it has a high investment cost performance. Since we know that the science and technology innovation board has allocation value, let's make a comparison between the science and technology innovation 100 and the science and technology innovation 50:
1. Different market capitalizations.
The constituent stocks of the STAR 100 are biased towards the small and medium-cap, with a market capitalization in the range of 50-50 billion, of which half of the constituent stocks are distributed in the range of 100-20 billion, while the constituent stocks of the STAR 50 are in the mid-cap, with a market value of 64% in the range of 200-50 billion.
2. The industry configuration is different.
Compared with the Science and Technology Innovation 50, the Industry Allocation of the Science and Technology Innovation 100 is relatively diversified and balanced, with semiconductors accounting for the highest but not more than 20%, and the other is medical medicine, photovoltaic cells, IT software, etc.
3. The scientific and technological attributes are different.
From the perspective of specialization, refinement, and innovation, the proportion of science and technology innovation 100 is higher, about 38%, while the proportion of science and technology innovation 50 is less than 29%.
4. Long-term performance is not the same.
From the comprehensive comparison of various risk-return indicators, the STAR 100 Index has a higher investment cost performance than the STAR 50.
5. The investment potential is different.
The yield of the STAR 100 Index has outperformed 78% of the STAR Market**, and the index companies have fast revenue growth, strong profitability, high R&D investment, and outstanding growth, which is an important choice for investing in high-tech growth and striving for excess returns.
Of course, there are similarities, both of which are weighted by free-float market capitalization, with a single sample weight of no more than 10% and the top five samples no more than 40%; Secondly, they are adjusted on a quarterly basis, and the amount of each sample adjustment is controlled within 10% in principle, and the specific selection can be determined according to individual needs.
This article is only a record of personal opinions, not the basis and recommendation of investment, and you buy and sell at your own risk. Investment is risky and should be traded with caution.
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