April sixteenthPccryptogamesThe CSI 2000 index experienced a sharp decline. However, on April 17, the previous day's decline was recovered, and the Wulianyang market began a few days later, with a cumulative increase of 13% from the 17th to the 29th.Pccryptogames.3%, the performance is quite eye-catching. In view of the recent performance of CSI 2000, let's analyze the medium-and long-term investment value of the index.

A small market capitalization implies a big future.

The CSI 2000 Index is an index that reflects the style of A-share small and micro-capped stocks. 2000 securities with small market capitalization and good liquidity in Shanghai and Shenzhen stock markets are selected as index samples, together with CSI 300,500,1000 and other indexes. together constitute the CSI scale index series, reflecting the overall performance of listed companies with different market capitalization.

The industry distribution of the CSI 2000 index is more balanced, covering all application-level industries except banks, with the overall index focusing on emerging industries. As of April 26, the top 10 weighted industries of the index are machinery and equipment, medicine and biology, electronics, computers, power equipment, basic chemical industry, automobile, communications, architectural decoration and media, etc.

Specialization is very new, focusing on small and beautiful

A prominent feature of the CSI 2000 Index is its high content of "specialization and innovation". At present, there are more than 440 state-level specialized and new enterprises in the index stocks, which are likely to continue to grow into individual champions in the manufacturing industry in the future.

The higher growth of specialized and special new enterprises also brings higher elasticity to the CSI 2000 index. Combing through the market since 2015, we can find that the yield of the CSI 2000 index in the rebound range is higher than that of the Wande partial fund index and the CSI index.

Revenue is expected to improve thanks to manufacturing repair

From the perspective of global and Chinese economic trends, at present, the global economy is in a pattern in which the manufacturing industry is gradually picking up and the economy is recovering slowly. The global comprehensive PMI and manufacturing PMI have further rebounded, which has been higher than the rise and fall line for three consecutive months, indicating that the momentum of global manufacturing repair is strong, China's GDP growth in the first quarter is bright, and manufacturing and exports have obvious pulling effect on GDP.

Combined with the high content of machinery, medicine, biology, electronics, computers and other manufacturing industries in the industry distribution of the CSI 2000 index, the relevant constituent stocks of the CSI 2000 index are expected to benefit from the global economic recovery and revenue growth is expected to improve.

Born to the "new", there is broad room for growth.

From the correlation with ChatGPT, AIGC, Nvidia, optical communication, artificial intelligence and other related indexes, the CSI 2000 index has a high correlation with new economy, new quality productivity and other topics. From the medium-and long-term perspective, the constituent stocks of CSI 2000 have relatively great potential and growth.

New delisting rules are beneficial to the long term

Recently, the Securities Regulatory Commission issued the "opinions on the strict implementation of the delisting system", and the market is generally concerned about the future performance of "small cap stocks".

The introduction of the policy in the standard setting, transition arrangements and other aspects have made sound arrangements, will not have a greater impact on the market. In the long run, a market pattern of orderly advance and retreat and timely clearance is more conducive to the improvement of the quality and intrinsic value of small market capitalization listed companies.

According to specific estimates, according to the latest policy requirements, about 100 companies in Shanghai and Shenzhen may hit this standard and implement delisting risk warnings next year. Among them, the number of companies with delisting risk on the main board is about 90, while the CSI 2000 constituent stocks are only about 25.

On the whole, CSI 2000 has the characteristics of typical small microdisk style, comprehensive industry coverage, high proportion of "specialized and special new" manufacturing industry, and outstanding characteristics of scientific and technological innovation. at the same time, it should also be noted that the index fluctuates relatively large. we can fully consider their own risk tolerance according to their own investment objectives, investment duration, investment experience, asset status and other factors. On the basis of understanding the basic characteristics of the index, combined with fundamentals, valuation and other factors to make a rational judgment. At present, there are CSI 2000 Index ETF (159532) and other products tracking the index on the market.

[disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.