The SSE Innovative Pharmaceutical Science and Technology Innovation Leading Index and the Shanghai Science and Technology Innovation Board Software Service Index were released on the 29th

The Zhitong Finance App learned that the Shanghai Stock Exchange and China Securities Index Co., Ltd. will officially release the Shanghai Securities Innovative Pharmaceutical Science and Technology Innovation Leading Index and the Shanghai Science and Technology Innovation Board Software Service Index on September 29, 2026 to provide the market with richer investment targets. The launch of the two indices not only helped increase the sample weight of the Science and Technology Innovation Board, but also provided investors with new benchmark tools to observe the two high growth tracks of innovative drugs and software services, and accelerate market value discovery.

The SSE Innovative Pharmaceutical Science and Technology Innovation Leading Index selected 40 securities of listed companies in the innovative drug sector with a high level of R&D and good growth from the listed companies on the Science and Technology Innovation Board and the Shanghai Securities Main Board as index samples. At the same time, it increased the sample weight of listed companies in the science and technology innovation board, reflecting the overall performance of listed company securities in the innovative drug sector in the above sectors.

In terms of sample selection methods, the Shanghai Securities Innovative Pharmaceutical Science and Technology Innovation Leading Index stipulates that (1) for securities that meet the investability screening conditions in the sample space, the securities of listed companies involved in the development of innovative drugs are selected as samples, excluding pharmaceutical outsourcing service companies; (2) the ascending percentage rankings of the past year's R&D expenditure, the ratio of R&D expenditure in the past three years to operating income, and TTM year-on-year growth rate of operating income are calculated to obtain their comprehensive score; (3) Prioritize the 20 listed science and technology innovation boards according to the overall score of the above sample selection company, The securities with the highest overall score were then selected from the remaining sample to be selected up to 40.

China's innovative drug market has continued to expand in recent years. According to data from the State Drug Administration, in 2024, China authorized 94 innovative drugs, totaling 51.9 billion US dollars; in 2025, there were more than 150, totaling more than 130 billion US dollars; in the first half of 2026, the total amount reached about 110 billion US dollars.

According to GlobalData, nearly half of the innovative drug licenses introduced by US biomedical companies in 2025 came from China. The State Drug Administration also estimates that China accounts for about 30% of the world's new drug pipeline, ranking second in the world. This is stock. Looking at the increase, China is already number one: Goldman Sachs research shows that 46% of the world's new drug molecules entering human trials in the first half of 2025 came from Chinese companies, compared to about 17% ten years ago. China is already one of the major suppliers in the global pipeline of new drugs.

On September 18, ten departments including the Ministry of Industry and Information Technology and the National Development and Reform Commission announced the “15th Five-Year Plan” for the pharmaceutical industry. According to the “Plan”, the operating income of pharmaceutical industry enterprises above scale will reach 3.5 trillion yuan or more, and the scale of the innovative drug industry will grow by more than 20% per year; the number of varieties with global annual sales exceeding 1 billion US dollars will reach more than 5; and the average R&D investment intensity of listed pharmaceutical companies will reach more than 10%. The policy focus has shifted from scale expansion to improving the quality of innovation, industrial efficiency, and global competitiveness, and the biomedical industry has accelerated to become an emerging pillar industry in the country. Frontier innovative drugs and innovative devices are one of the key encouragement projects.

Xiangcai Securities said that China's innovative drugs have entered a new stage of globalization, achieved technological breakthroughs in cutting-edge fields such as ADC and dual antibodies, and gradually moved from following innovation to innovation at the source.

Guojin Securities pointed out that domestic innovative drug investment and financing margins have improved, BD trading activity has increased, pre-clinical CRO orders are abundant, and the sector has entered the volume-price repair channel, compounded by the recovery in overseas orders and the expansion of new molecular racetracks, and the industry's prosperity continues to rise.

The Shanghai Science and Technology Innovation Board Software Service Index selected 40 securities of listed companies in the fields of software development and software services from the Science and Technology Innovation Board as index samples to reflect the overall performance of listed company securities in the Science and Technology Innovation Board software service industry.

These 40 companies cover various segments such as office software, databases, industrial software, cloud computing, artificial intelligence, network security, data services, and industry informatization solutions.

Judging from the market capitalization structure, the Shanghai Science and Technology Innovation Board Software Service Index did not show a clear “concentration of large market capitalization” — the list includes not only platform-based software companies that have already formed large revenue and profit scales, but also small and medium-sized software companies that are still in the R&D investment and product commercialization stage.

According to the latest closing date data, among the 40 companies, the highest market capitalization is Jinshan Office, which is about 103,025 billion yuan; the lowest is Huichen Shares, which is about 2,332 billion yuan. The difference between the two is more than 43 times. Of the 40 companies, 27 had a market capitalization of less than 10 billion yuan, and 15 had a market value of less than 5 billion yuan. The median market value of the sample was about 5.7 billion yuan.

Judging from the first batch of samples, what the Shanghai Science and Technology Innovation Board Software Service Index shows is not a “list of high-performing stocks” screened according to short-term profitability, but rather a centralized slice of the current development status of the Science and Technology Innovation Board software industry: R&D has already been invested and products are being iterated, but quite a few companies are still on the way to redeem their profits.