The Kechuang 100 index ETF was incorporated into the two financing targets yesterday, helping to discover the value of Kechuang

From October 16, the Kechuang 100 index ETF (588030), which has been listed for one month, was officially included in the subject of margin trading. As of October 13, the scale of the sci-tech innovation 100 index ETF (588030) was 2.818 billion yuan, which was larger than the issuance scale. It was the largest [1] among the same subject ETF products and had good liquidity. It was a "new catch" for investment in tracking the sci-tech innovation 100 index - helping the development of sci-tech innovation enterprises and providing a broader capital stage for the growth of sci-tech innovation enterprises, At the same time, it also helps more investors to share the dividend of the times of China's technological innovation and industrial structure upgrading.

Science and technology innovation 100 and science and technology innovation 50 together constitute the scale index series of the Shanghai Stock Exchange Science and Technology Innovation Board. Compared with the sci-tech innovation 50, the sci-tech innovation 100 focuses on the waist enterprises with market value in the sci-tech innovation board, which has a large space for growth. The Kechuang 100 Index makes one click investment in small and medium-sized companies on the science and technology innovation board, which is more flexible, more evenly distributed in the industry, and has strong investment value.

From the perspective of market value distribution, the market value style of the constituent stocks of the Science and Technology Innovation Board is medium and small cap stocks. Tang Yibing, fund manager of the Kechuang 100 Index ETF, believes that the two most prominent characteristics of the Kechuang 100 Index are small market value and growth and innovation. Considering the number and quality of patents of constituent stocks of the Kechuang 100 Index, the intellectual property rights of Kechuang 100 with technology as the core are excellent in quality and sufficient in quantity, and the scientific and technological innovation ability is particularly prominent.

At present, the total number of effective patents of constituent companies in the sci-tech innovation 100 index exceeds 60000, including patents under public examination for invention, utility model patents, design patents and invention authorization patents. Tang Yibing said that the number and quality of patents are one of the intuitive indicators to measure the technical situation of an enterprise. "In a patent, its quality can be measured by the classification number covered, the number of words in the specification, the number of drawings, the quotation before and after, etc. Among them, the classification number generally uses the IPC classification, which is currently an internationally used patent document classification and retrieval tool, including eight categories, which reflects the quality of patents to a certain extent - it is generally believed that the more categories a patent covers, the more widely its technology is applied, and the patents in the Science and Technology Innovation 100 average cover three IPC categories, superior to other broad-based indexes. "

In addition, Tang Yibing said that most of the constituent stocks of the Kechuang 100 Index are strategic emerging industries with broad development space. At present, the overall R&D intensity of the Kechuang 100 index is at the forefront of the market. In the future, as the constituent stocks of the index gradually transform innovation investment into actual productivity, the index is expected to usher in a rapid growth period.

[1] Source of expression of "the largest scale": wind, Bosera Fund. As of October 13, 2023, the scale of the sci-tech innovation 100 index ETF (588030) was 2.818 billion yuan, the scale of the sci-tech innovation 100 ETF fund (588220) was 1.717 billion yuan, the scale of the sci-tech innovation 100 ETF (588190) was 1.676 billion yuan, and the scale of the sci-tech innovation board 100ETF (588120) was 1.617 billion yuan.

key word: index patent scale Subject