Major adjustment of A-share index! Involves VGT, Zhongji Innolight, and others

Multiple important indices in the A-share market are about to undergo significant adjustments. On November 28, the Shanghai Stock Exchange and the Shenzhen Stock Exchange announced adjustments to the sample stocks of the SSE 50, STAR 50, Shenzhen Component Index, and ChiNext Index, which will take effect on December 12. Among them, the number of sample stocks replaced in the SSE 50, STAR 50, Shenzhen Component Index, and ChiNext Index are 4, 2, 17, and 8 respectively. According to the latest periodic adjustment plan announced by China Securities Index Co., Ltd., adjustments will also be made to the sample stocks of the CSI 300, CSI 500, CSI 1000, CSI A50, CSI A100, and CSI A500 indices. This adjustment is a periodic adjustment of the index samples and will officially take effect after the market closes on December 12. Adjustments to Important A-share Indices On November 28, according to an announcement from the Shanghai Stock Exchange, based on index rules and after review by the Index Expert Committee, the Shanghai Stock Exchange and China Securities Index Co., Ltd. decided to adjust the sample stocks of the SSE 50, SSE 180, SSE 380, and STAR 50 indices, effective after the market closes on December 12, 2025. Among them, the SSE 50 index will replace 4 sample stocks, the SSE 180 index will replace 7 sample stocks, the SSE 380 index will replace 38 sample stocks, and the STAR 50 index will replace 2 sample stocks. Specifically, the sample stocks added to the SSE 50 index are SAIC Motor, Northern Rare Earth, Huadian New Energy, and Zhongke Shuguang, while those removed are Poly Developments, China Mobile, Aluminum Corporation of China, and CRRC Corporation. The sample stocks added to the SSE 180 index are Guotou Capital, Zhongtian Technology, Huadian New Energy, Guolian Minsheng, Rockchip, Shengmei Shanghai, and Jinghe Integrated, while those removed are COSCO Shipping Energy, Nanshan Aluminum, Sailun Tire, Lu'an Environmental Energy, China Oilfield Services, Stone Technology, and Trina Solar. The sample stocks added to the SSE 380 index are COSCO Shipping Energy, Jinfeng Technology, Nanshan Aluminum, Southwest Securities, Minmetals Capital, Chihong Zinc & Germanium, Hainan Airport, Jingneng Power, Oriental Pearl, Jianyuan Trust, and Sinopec Oilfield Services, totaling 38 stocks, while those removed are Guotou Capital, Furida, Pudong Construction, Tibet Everest, Jiangshan Shares, Anhui Construction Engineering, Yuguang Gold Lead, Jinjing Technology, Hangmin Shares, and Green Power, also totaling 38 stocks. The sample stocks added to the STAR 50 index are Aojie Technology and Shengke Communication, while those removed are Huaxi Biological and Hangcai Shares. The candidate list for the STAR 50 index sample stocks includes Wealth Trend, Zhongke Xingtou, Zhongke Feice, Guodun Quantum, and Ruichuang Micro-Nano On the same day, the Shenzhen Stock Exchange announced that according to the index compilation rules, the Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. decided to implement regular adjustments to the sample stocks of the Shenzhen Component Index, ChiNext Index, Shenzhen 100, and ChiNext 50 on December 15, 2025. Specifically, the Shenzhen Component Index will add 17 stocks including Shen Shen Fang A, Deming Li, Guo Huo Hang, Walden Materials, and Tuo Wei Information, while removing 17 stocks including China National Pharmaceutical, China Tianying, Haide Shares, Tibet Mining, and Hanlan Shares. The ChiNext Index will add 8 stocks including Shuanglin Shares, Changshan Pharmaceutical, and Fulian Precision, while removing 8 stocks including Biyuan, Yihualu, and Tianhua New Energy. The Shenzhen 100 Index will add 7 stocks including Cangge Mining, Guo Huo Hang, and Dongshan Precision, while removing 7 stocks including Tianshan Shares, Shanxi Coking Coal, and Jing'ao Technology. The ChiNext 50 Index will add 5 stocks including Changshan Pharmaceutical, Feilihua, and Changxin Bochuang, while removing 5 stocks including Teruid, Mango Super Media, and Guanghong Technology. On November 28, China Securities Index Co., Ltd. also announced the regular adjustment plan for the sample stocks of the CSI 300 and other indices on its official website. China Securities Index Company stated that it will adjust the sample stocks of the CSI 300, CSI 500, CSI 1000, CSI A50, CSI A100, and CSI A500. This adjustment is a regular adjustment of the index samples and will officially take effect after the market closes on December 12. Among them, the CSI 300 Index will replace 11 samples, with Shenghong Technology, Huadian New Energy, and Dongshan Precision added to the index; the CSI 500 Index will replace 50 samples, with Heertai and Huahong Company added to the index; the CSI 1000 Index will replace 100 samples, with Shijia Photon and Yongding Shares added to the index; the CSI A50 Index will replace 4 samples, with Zhongji Innolight and Huagong Technology added to the index; the CSI A100 Index will replace 6 samples, with Dongfang Caifu and Zhongke Shuguang added to the index; the CSI A500 Index will replace 20 samples, with Guotai Haitong and Xinyuan Shares added to the index. After this sample adjustment, the number and weight of samples in industries such as information technology, communication services, and industrials have generally increased. The A series indices have a more balanced industry allocation compared to traditional broad-based indices, further enhancing the content of new productive forces, which helps the indices serve national strategies and guide resource allocation How Will the A-Share Market Develop in the Future Returning to the market level, this week, all three major A-share indices staged a comeback, with the Shanghai Composite Index rising 1.4% for the week, the Shenzhen Component Index increasing 3.56%, and the ChiNext Index gaining 4.54%. At this current point, the topic that investors are most concerned about may be whether the momentum of the A-share market's rebound can be maintained. Can the medium to long-term upward trend continue? Ping An Securities pointed out that the current market is still in a high-level oscillation phase. After a short-term correction, the overall safety margin has improved. In December, attention should be paid to the policy signals released by important domestic meetings. In terms of allocation, it is recommended to maintain a relatively balanced approach, focusing on: first, the technology growth sector that benefits from the resonance of domestic and external demand; second, the advanced manufacturing sector that is expected to benefit from industry demand recovery and technological upgrades; third, the cyclical sector that benefits from product price increase expectations; and fourth, dividend assets that still have allocation value. Everbright Securities believes that the market is likely still in a bull market. Compared to previous years' bull markets, the current index still has considerable room for growth. However, under the national policy guidance of a "slow bull," the duration of the bull market may be more important than the magnitude of the increase. In the short term, the market may lack strong catalysts, and combined with the fact that some investors may tend to be more conservative at the end of the year, the stock market may primarily consolidate in the short term. Dongwu Securities stated that after November, the market is expected to welcome an early layout window for the spring market. In terms of specific sector allocation, if the market opens the spring market in December, the main line of funds is likely to shift towards AI applications and other directions. Specific recommendations focus on two major directions: First, the global technology industry trends represented by AI applications, including downstream applications such as AI + medicine, AI edge computing, humanoid robots, intelligent driving, AI applications, and agents; Second, the technology innovation and advanced manufacturing fields closely related to the "14th Five-Year Plan" recommendations and benefiting from domestic policy support, such as hydrogen energy, nuclear energy, quantum technology, and commercial aerospace. Risk Warning and Disclaimer The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at one's own risk