Economic Observer Network reporter Hong Xiaotang Several hard technology ETFs approved by “Lightspeed” are making new progress.
On September 20, 5 products including Harvest SSE Sci-tech Innovation Board Chip ETF, Huaan SSE Sci-tech Innovation Board Chip ETF, Southern SSE Sci-tech Innovation Board New Materials ETF, Bosera SSE Sci-tech Innovation Board New Materials ETF, Huaxia CSI Machine Tool ETF, etc. The announcement stated that it will be officially released on September 23.
In addition, the reporter learned from channel sources that the Cathay CSI Machine Tool ETF is expected to be officially issued on the 26th.
In terms of time, the above-mentioned 6 products were only reported on September 16, 4 days ago. In just 2 days, on September 18, the 6 ETFs were successfully approved. Some people in the industry lamented that from preparation to approval And then to the release can be described as “speed of light”.
According to the administrative approval progress of the China Securities Regulatory Commission, on September 16, Harvest Fund and Huaan Fund respectively reported the SSE STAR Market Chip ETF, China Southern Asset Management and Bosera Fund respectively reported the SSE STAR Market New Materials ETF, while China Asset Management and Cathay Pacific The fund separately reported to the CSI Machine Tool ETF.
“To be able to report and get approval so quickly this time, the intention of supervision is very clear, that is, it can provide ‘living water’ for more subdivided technology fields, further strengthen the role of financial services in the real economy, and relieve the “stuck neck” problem from the capital side. ” said a public offering close to supervision.
Liang Xing, director of the Quantitative Investment Department of Cathay Pacific Fund, said that the launch of ETF products has attracted medium and long-term funds to enter the market, provided financial support for the development of national science and technology, helped to improve the independent innovation capability of the industry, and accelerated the key core technologies of “stuck neck”. Promote the long-term and stable development of my country’s economy.
6 products in 3 fields
Judging from the coverage areas of the six technology ETFs, the distribution of the six products focuses on the three major areas of new materials, chips and machine tools.
Among them, the tracking index of Harvest SSE Sci-tech Innovation Board Chip ETF and Huaan SSE Sci-tech Innovation Board Chip ETF is the SSE Sci-tech Innovation Board Chip Index (hereinafter referred to as the “Science and Technology Innovation Chip Index”), which is established by the Shanghai Stock Exchange and China Securities Index Co., Ltd. in 2022. Officially released on June 13, 2019.
According to the official website of the Shanghai Stock Exchange, the index selects no more than 50 securities of listed companies in the fields of semiconductor materials and equipment, chip design, chip manufacturing, chip packaging and testing with large market value as index samples to reflect the listing of the representative chip industry on the Science and Technology Innovation Board. The overall performance of the company’s securities. The top ten heavyweight stocks in the index include China Micro, SMIC, China Resources Micro, Montage Technology and other leading chip companies, with a total weight of 60%.
According to data from the official website of China Securities Index Co., Ltd., the base date of the index is December 31, 2019, and the base point is 1,000; as of the close of September 20, the Science and Technology Chip Index has fallen by 30.07% during the year.
Tian Guangyuan, the proposed fund manager of Harvest SSE Science and Technology Innovation Board Chip ETF, said that under the effect of multiple favorable factors resonating at the same frequency, the domestic chip industry contains huge investment opportunities. On the one hand, the continuous development of domestic technology has become an “accelerator” for the development of the domestic chip industry. Data shows that in the past year, 19 of the world‘s 20 fastest-growing chip industry companies are Chinese mainland companies. In 2021, the average sales growth rate of China‘s chip industry will rank first in the world. On the other hand, given the three major opportunities of global chip shortage, fluctuations in the global supply chain under short-term factors, and the policy support of “specialized, refined, and new” little giants, China‘s chip industry may usher in a golden period of development.
The Huaxia CSI Machine Tool ETF and Cathay CSI Machine Tool ETF track the CSI Machine Tool Index, which was released by China Securities Index Co., Ltd. on May 9, 2022, and selects 50 businesses from the Shanghai and Shenzhen markets that involve complete machine tools. And listed companies in the fields of design, manufacture and service of key components such as CNC systems, spindles, cutting tools, etc. as samples. The top ten heavyweight stocks in the index include: Han’s Laser, Huagong Technology, Shanghai CNC, Jiangte Motor, Inovance Technology, etc., with a total weight of 54%, and a decline of 18.62% for the year as of September 20.
Liang Xing believes that after the approval of the Cathay Pacific China Securities Machine Tool ETF, it can effectively increase the market’s attention and contribute to the development and growth of the machine tool industry. At the same time, the fund products are expected to bring incremental funds to the machine tool industry, help the real economy increase R&D investment, expand production, and promote the qualitative improvement of the industrial chain. Residents’ investment in CSI machine tool-related ETFs, on the one hand, supports the national strategy, and on the other hand helps to share the benefits brought by economic growth.
Si Fan, the proposed fund manager of China Asset Management CSI Machine Tool ETF, said that the latest sample of the CSI Machine Tool Index has a total daily average market value of 640.8 billion yuan and a free-float market value of 476.4 billion yuan. The average daily total market value of the sample is 13.3 billion yuan, and the median is 4.8 billion yuan, which is relatively small. In the latest sample, more than 50% of the weights are distributed on the main board of the Shenzhen Stock Exchange. The number and weight of machine tool samples both exceed 50%. 83% of the sample size and 70% of the weight are concentrated in mechanical manufacturing, followed by electronics and non-ferrous metals. The top ten samples have a total weight of 59.00%, the top five samples have a total weight of 36.44%, and the largest weight sample is Han’s Laser.
Different from the two major fields of chips and machine tools, the ETFs approved by China Southern Fund and Bosera Fund are related to the new materials sector. The index selects 50 securities of listed companies in the fields of advanced steel, advanced non-ferrous metals, advanced chemicals, advanced inorganic non-metals and other basic materials and key strategic materials with large market capitalization from the STAR Market as index samples; the top ten of the index Heavyweight stocks include: Western Superconductor, Rongbai Technology, Shanghai Silicon Industry, etc., with a total weight of 63%. As of September 20, the index has fallen by 25.42% during the year.
Southern Asset Management stated that the new material industry is at a critical stage of development, with huge room for future growth and outstanding long-term investment value. First of all, the localization and development of new materials with excellent performance is the key for China to become a manufacturing power and get rid of the “stuck neck” dilemma. Secondly, the increase in product penetration rate + the prosperity of downstream demand + the company’s core competitiveness escorts the development of the new material company. Finally, the recent decline in raw material prices + the weakening of the negative impact of the epidemic + the improvement of the overseas trade environment has brought room for a rebound in valuations, the periodic suppression of new material companies has weakened, and the margin of gross profit margins has improved. enhanced.
Regarding the issuance of the above-mentioned hard technology ETFs, a relevant person from a large fund company in Shanghai said that the recent market trend was relatively sluggish, and six hard technology ETFs were issued at this time, and their funding enthusiasm needs to be further verified. The layout remains important in the long run.Return to Sohu, see more
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