The CSI Southern Well-off Industry Index is revised using the divisor correction method.
When the list of sample stocks or capital structure changes or the adjusted market value of sample stocks changes due to non-trading factors, the divisor correction method is used to correct the original fixed divisor to ensure the continuity of the index.
The correction formula is: Adjusted market value before correction Adjusted market value after correction ———————— = ——————————Original divisor New divisor Among them, adjusted market value after correction = Adjusted market value before correction +
Add (subtract) to adjust the market capitalization; the new divisor (that is, the revised divisor, also known as the new base period) is derived from this formula, and future indexes are calculated based on this.
Situations that require correction: 1. Ex-dividend: If a sample stock has an ex-dividend (dividend payment), the index will not be corrected and will be allowed to fall naturally.
2. Ex-rights: Whenever there is bonus issue or rights issue for a sample stock, the index will be revised before the ex-rights base date of the sample stock.
Adjusted market value after correction = ex-rights quotation × number of shares after ex-rights + adjusted market value before correction (excluding ex-rights stocks).
3. Trading suspension: When a certain sample stock is suspended from trading, its last transaction price will be used to calculate the index until trading is resumed.
4. Delisting: If a sample stock is delisted (trading terminated), the index will be revised before its delisting date.
5. Changes in share capital: If there are other changes in the share capital of a sample stock (such as the issuance of new shares, listing of rights issues, increase in circulating share capital caused by the listing of internal employee shares, etc.), the index will be revised before the date of change in the share capital of the sample stock.
6. Trading suspension: When some constituent stocks are suspended from trading, the index will be calculated as usual; when all constituent stocks are suspended from trading, index calculation will stop.