GUANGZHOU, China, June 17,
2024 /PRNewswire/ -- On June
13th, the Science and Technology Innovation Board
(STAR Market) celebrated its fifth anniversary since its launch in
2019. Positioned as a platform for serving high-level scientific
and technological sufficiency, the STAR Market embraced companies
in strategic emerging industries, such as new-generation IT,
high-end equipment manufacturing, new materials, energy
conservation and environmental protection, new energy and
biomedicine, contributing new quality productive forces.
Over the past five years, there are 573 companies listed on the
STAR Market, raising over US$125.5
billion through IPOs, with combined market value exceeding
US$703 billion, as of June 12th. The quarterly reports
revealed that STAR-listed companies achieved a total operating
revenue of US$41.2 billion, a
year-on-year increase of 4.6%, and 67% of companies have delivered
achieved positive revenue growth in the first quarter of 2024.
Meanwhile, the index system of STAR Market has progressively
improved. Since the first STAR Market index, the SSE STAR 50 Index,
was launched in 2020, there are more than 15 indices tracking the
performance of the STAR Market, the collective AuMs of relevant
products amounting to US$22 billion.
Moreover, products such as E Fund STAR 50 ETF (Code: 588080) were
included in ETF Connect Program, empowering foreign investors who
seek exposure to innovation-driven tech companies.
Leading asset managers have actively participated in providing
diverse investment tools for investors. Notably, E Fund Management
("E Fund"), the largest asset manager in China, continued to enrich its ETF line-up,
which included E Fund STAR 50 ETF, E Fund STAR 100 ETF (Code:
588210), and E Fund STAR Growth ETF (Code: 588020).
While the SSE STAR 50 Index is comprised of 50 largest
companies, with an average market cap of US$6.4 billion, the SSE STAR Growth Index
highlights the growth potential of its constituents and selects 50
stocks with higher growth rates of operating revenue and net
profit.
The SSE STAR 100 Index consists of 100 mid-sized stocks,
excluding constituents of STAR 50 Index. Unlike SSE STAR 50 Index
and SSE STAR Growth Index, which are concentrated in semiconductor
sector, the SSE STAR 100 Index is broadly diversified across
industries and the weights of the top 5 industries -
semiconductors, pharmaceuticals, medical treatment, electrical
equipment, and machinery – are quite close, accounting for nearly
80% in total.
About E Fund
Established in 2001, E Fund Management Co., Ltd. ("E Fund") is a
leading comprehensive fund manager in China with close to RMB
3.2 trillion (USD 450 billion)
under management.* E Fund's clients include both individuals and
institutions, ranging from central banks, sovereign wealth funds,
social security funds, pension funds, insurance and reinsurance
companies, to corporates and banks. Long-term oriented, it has been
focusing on the investment management business since inception and
believes in the power of in-depth research and time in
investing.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/star-market-celebrates-fifth-anniversary-with-impressive-growth-and-enhanced-investment-tools-302173981.html
SOURCE E Fund Management