| Field | Value | Source text | Reading (model) |
|---|---|---|---|
| G1 Scope, precedence and principles · 7 fields | |||
| Corporate events scope | Corporate events include new listings, suspension, risk warning, delisting, bankruptcy, transfer of listing, mergers and acquisitions, spin-offs, dividends, bonus issues, placements and other events affecting securities, prices or share counts. | 公司事件包括新上市、停牌、风险警示、退市、破产、转板等影响证券基本情况或交易状态的事件，收购合并、分立等资产重组类事件以及分红、送股、增发等引起证券价格或股本变动的事件等。Open p.4 ↗ |
The corporate-event rules cover events affecting a security's basic status or trading status, asset restructurings, and events causing changes in security prices or share capital. |
| Covered indices | Domestic and overseas equity indices managed by China Securities Index Co., Ltd. | 《公司事件处理规则》原则上适用于中证指数所管理的境内外股票指数。Open p.4 ↗ |
The rules apply in principle to domestic and overseas equity indices managed by China Securities Index Co., Ltd. |
| Precedence rule | The relevant index methodology prevails where it specifies different corporate-event treatment; uncovered special or complex cases are handled under the administrator's index compilation and management principles. | 当指数编制方案对于处理规则另有说明时，以编制方案所述规则为准。对于《公司事件处理规则》未能涵盖的其他特殊情况或者情形较为复杂的公司事件，中证指数将根据《中证指数有限公司指数编制与管理原则》，确定适当的处理方法。Open p.4 ↗ |
If an index methodology provides otherwise, its rules prevail; for special or complex corporate events not covered here, CSI determines an appropriate treatment under its index compilation and management principles. |
| Principles | Reflect the event's impact on index constituents and comply with the index methodology, balancing representativeness and investability., Minimise trading required for index users to track the index and maintain index stability., Maintain consistency of corporate-event treatment as far as possible and improve predictability. | 公司事件处理应反映事件对指数样本的影响并符合指数编制方案的要求，平衡指数的代表性与可投资性；尽量减少指数用户为跟踪指数而进行的交易活动，保持指数的稳定性；尽可能保持事件处理方法的一致性，提升公司事件处理的可预见性。Open p.4 ↗ |
Corporate-event handling should reflect the event's impact and the index methodology, balance representativeness and investability, minimise tracking trades and preserve stability, and maintain consistency and predictability. |
| Administrator | China Securities Index Co., Ltd. (CSI) | 《中证指数有限公司股票指数公司事件处理规则》 （以下简称《公司事件处理规则》）旨在阐述中证指数有限公司（以下简称“中证指数”）所管理的股票指数中公司事件处理所遵循的规则。Open p.4 ↗ |
The administrator and issuer of the rules is China Securities Index Co., Ltd. |
| Rulebook version | V1.1 | 股票指数公司事件处理规则
V1.1Open p.1 ↗ |
The rulebook version is V1.1. |
| Effective date | 2025-11-01 | V1.1
2025 年11 月Open p.1 ↗ |
Version 1.1 is dated November 2025; the document states no specific day within that month. |
| G4 Corporate events · 15 fields | |||
| Restricted share unlock free float timing | Restricted shares are non-free-float during the restriction period; after unlocking, the impact on free float is reflected at a periodic review and free-float share count remains unchanged on the unlock date. | 限售期内，限售股份均被认定为非自由流通股份，限售股份解限售股解禁禁后对自由流通量的影响将在定期调整时体现，限售股解禁当日自由流通股本保持不变。Open p.10 ↗ |
Restricted shares remain non-free-float until unlocked, and the free-float impact of an unlock is reflected at a periodic adjustment rather than on the unlock date. |
| Scrip dividend treatment | For scrip dividends, CSI makes the ordinary cash-dividend ex-dividend adjustment, then completes the share difference after the scrip share-change announcement; the resulting total-share change follows the 5% temporary- or regular-adjustment threshold. | 中证指数在样本除息日按照常规分红进行除息处理，待以股代以股代息息股份变动公告发出后，完成股份差异调整。以股代息引起的累计总股本变动若达到或超过5%，对股本进行临时调整，否则股本变动将在定期调整时生效。Open p.11 ↗ |
When investors may elect shares instead of cash dividends, CSI first applies the ordinary dividend adjustment and later adjusts the share difference, with share-count timing based on the 5% threshold. |
| Cash dividend | Treatment: Price adjustment on ex dividend date; Currency conversion source: foreign-exchange quotations from data providers designated from time to time by CSI, unless otherwise stated | 按比例以现金形式向股东发放股利，除息日证券价格需进行相应调整。Open p.9 ↗ |
For cash dividends paid proportionately, the security price is adjusted on the ex-dividend date; where currency conversion is needed, exchange rates come from a CSI-designated data provider unless otherwise stated. |
| Bonus and split | Bonus issue: Adjust both price and share count on the ex-rights date; Split or reverse split: Adjust both price and share count on the ex-rights date when shares are proportionately split or consolidated; Effective timing: Usually effective immediately on the ex-rights or ex-dividend date | 按比例向股东赠送本公司股份，除权日证券价格和股本数量需进行相应调整。送股Open p.9 ↗ |
Bonus issues and proportionate share splits or consolidations require corresponding adjustments to the security price and number of shares on the ex-rights date. |
| Rights issue | The security price and share capital are adjusted on the ex-rights date, generally based on the proposed rights-issue ratio stated in the issuer's announcement. | 按比例向原股东以某一特定价格配售一定数量新发行证券的融资行为，除权日证券价格和股本需进行相应调整。中证指数根据上市公司配股发行公告，通常按拟配股比例进行除权处理。配股Open p.9 ↗ |
For a rights issue, CSI adjusts the security price and share capital on the ex-rights date, generally using the proposed rights-issue ratio from the issuance announcement. |
| Other share changes | Events: placements or additional share issuances, debt-to-equity conversions, warrant exercises, over-allotment exercises, share dividends elected in lieu of cash dividends, other share-count changes without price adjustments; Price adjustment: No; Share count adjustment: Yes; Temporary adjustment threshold percent: 5; Below threshold timing: The next regular June or December share-count adjustment; Temporary effective date: Generally two trading days after the share listing date in the corporate-event announcement; if the announcement date is later, the next trading day after the announcement is treated as the share listing date | 除了送股、配股、拆股、缩股等除权除息类公司事件以外，股本
变动也可能由其他公司事件引起，例如增发、债转股、权证行权等；
此类公司事件通常只需进行股本调整，无需进行价格调整。Open p.9 ↗ (not found verbatim in the PDF) |
Non-ex-rights share changes generally require only share-count adjustments; cumulative total-share changes of at least 5% are implemented temporarily, while smaller changes take effect at the June or December regular adjustment. |
| Capital reduction | Share consolidation: Classified as an ex-rights event, with price and share count adjusted on the ex-rights date; Buyback and cancellation: Requires only share-count adjustment; a cumulative total-share change of at least 5% triggers a temporary adjustment, otherwise the change takes effect at a regular adjustment | 除权除息类公司事件主要指需要进行价格调整的公司事件，包括：分红等导致价格变动的公司事件，送股、配股、拆股、缩股等导致价格、股本数量同时变动的公司事件。Open p.8 ↗ |
Share consolidations are ex-rights events with price and share-count adjustments, while cancelled buyback shares are treated as share-count changes using the 5% temporary-adjustment threshold. |
| Merger acquisition | Constituent acquires constituent: The surviving new company generally retains constituent status; whether to fill the acquired constituent's vacancy depends on the index methodology; Constituent acquires non constituent: The surviving new company generally retains constituent status; Non constituent acquires constituent: The surviving new company generally becomes a constituent, unless it fails specific methodology conditions, in which case it does not enter and any vacancy is handled under the methodology; Non constituent acquires non constituent: The surviving company may enter under the fast-entry rules if it meets those requirements | 一家样本公司合并另一家样本公司时，合并后的新公司证券原则上保留样本资格，同时根据指数编制方案决定是否对被合并的样本公司补上样本空缺。Open p.5 ↗ |
Merger treatment depends on whether the acquirer and target are constituents, with the surviving company generally retaining or acquiring membership and vacancies handled according to the index methodology. |
| Spin off | When a constituent spins off into two or more companies, CSI decides whether to include the resulting companies based on their listing time and the actual circumstances of the spin-off. | 一家样本公司分立为两家或多家公司，中证指数将根据分立后形成的公司证券的上市时间并结合分立事件的实际情况，决定是否将分立后形成的公司证券纳入指数样本。Open p.6 ↗ |
For a constituent spin-off, CSI determines whether the securities of the resulting companies are included based on their listing time and the circumstances of the event. |
| New listing | Periodic review: New listings generally must satisfy the listing-history requirement in the relevant index methodology; certain qualifying securities may be exempt as specified by that methodology; Fast entry: Some index methodologies provide fast entry for large-cap newly listed securities between periodic reviews | 定期调整时，为避免新股上市的价格大幅波动影响指数的稳定性及表征功能，对于新上市证券，一般需满足指数编制方案的上市时间要求，其中，对于符合一定条件的证券或可豁免上市时间要求，详见各指数编制方案。Open p.4 ↗ |
New listings generally must meet an index methodology's listing-time requirement at periodic reviews, while large-cap new listings may enter quickly between reviews only where an index methodology provides fast entry. |
| Suspension | Periodic review existing constituents: A constituent suspended continuously for more than 25 trading days as of the data cutoff and still not resumed is generally prioritised for deletion if it falls in the candidate deletion list; Periodic review new candidates: Securities suspended on the disclosure date without a clear resumption expectation, or whose expected resumption is on or after the effective date, generally cannot be new candidates; Re entry after long suspension: A security suspended continuously for more than 25 trading days during the data-review period may generally enter the index only three months after trading resumes; Interim constituent event: Between periodic reviews, CSI decides whether to delete a suspended constituent based on the reason for suspension | 至数据考察截止日已连续停止交易超过二十五个交易日且仍未恢复交易的样本，如果落入候选剔除名单，则原则上列为优先剔除证券。Open p.6 ↗ |
Suspended constituents are prioritised for deletion at periodic reviews after more than 25 trading days without resumption, suspended non-constituents face entry restrictions, and interim deletion depends on the suspension reason. |
| Risk warning | Periodic review: Securities placed under risk warning, or whose risk warning has been removed for less than three months as of the data cutoff, generally do not satisfy sample-space conditions, unless the index methodology provides otherwise; Interim review: Constituents placed under risk warning are generally removed on the trading day after the second Friday of each month | 定期调整时，一般而言，被沪深京交易所实施风险警示的证券或至数据考察截止日被撤销风险警示不满三个月的证券原则上不符合样本空间条件。指数编制方案对于样本空间条件另有说明的，以编制方案为准。Open p.7 ↗ |
Risk-warning securities and securities recently removed from risk warning are generally ineligible at periodic reviews, and risk-warning constituents are generally removed monthly on the trading day after the second Friday. |
| Delisting | Periodic review ineligibility: Securities expected to trigger or already triggering trading-related mandatory delisting criteria, or that have published share termination announcements, generally do not meet sample-space conditions; New candidate restriction: Securities at risk of trading-related mandatory delisting or with announced expected delisting dates generally are not selected as new candidates; Interim deletion: Constituents that trigger trading-related mandatory delisting criteria or publish share termination announcements should generally be removed as soon as possible, with any vacancy filled according to the index methodology | 定期调整时，预计触及或触及交易类强制退市情形、已发布股票终止上市等公告的证券，原则上不符合样本空间条件。Open p.7 ↗ |
Securities facing or triggering mandatory trading-related delisting are ineligible at periodic reviews and cannot be new candidates; affected constituents are generally removed promptly between reviews. |
| Bankruptcy | A constituent that files for bankruptcy or is adjudged bankrupt is removed from the index, and any vacancy is filled according to the index methodology. | 如果样本公司申请破产或被判令破产时，将其从指数样本中剔除，同时根据指数编制方案决定是否补上样本空缺。Open p.8 ↗ |
When a constituent company applies for bankruptcy or is adjudged bankrupt, it is removed from the index and any vacancy is handled under the index methodology. |
| Transfer of listing | Between exchanges: The pre-transfer security is generally treated as a delisting and the post-transfer security as a new listing; Within same exchange: Treatment is governed by the relevant index methodology | 对于上市公司证券在不同交易所之间的转板，原则上，转板前的证券参照退市处理，转板后的证券参照新上市证券处理。对于上市公司证券在同一交易所内部的转板，根据指数编制方案规定处理。Open p.8 ↗ |
For a transfer between exchanges, the old security is treated like a delisting and the new security like a new listing; transfers within one exchange follow the index methodology. |
Open points · 10Model-written, for reference
- 1The document identifies V1.1 as November 2025 but does not state a specific calendar day of effectiveness.
- 2No explicit treatment of cash distributions in total-return or net-return indices is provided.
- 3No explicit deletion price or valuation price for suspended or deleted constituents is stated.
- 4Index-specific fast-entry quantitative thresholds and listing-history exemptions are deferred to individual index methodologies and are not stated here.
- 5Not coveredG2 Calculation and publication: not covered by this edition
- 6Not coveredG3 Prices and market data: not covered by this edition
- 7Not coveredG5 Shares, free float and weight factors: not covered by this edition
- 8Not coveredG6 Disruption, emergencies and corrections: not covered by this edition
- 9Not coveredG7 Review and constituent changes: not covered by this edition
- 10Not coveredG8 Governance, changes and termination: not covered by this edition
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