by TIAN Heqi
FTSE Russell will add CMOC Group (603993.SH) and Sungrow Power Supply (300274.SZ) to the FTSE China A50 Index, while Bank of Jiangsu (600919.SH) and SF Holding (002352.SZ) will be removed and placed on the reserve list. The changes take effect on December 22.
The reshuffle signals a shift toward companies tied to the global energy transition and upstream metals. Both CMOC Group — a major supplier of copper and cobalt used in batteries and clean-energy technologies — and Sungrow — one of the world's largest makers of solar inverters and storage systems — have gained sharply this year and now rank among the most valuable A-share industrial names.
CMOC Group's shares have traded near record highs, valuing the company at 383 billion yuan (about US$54 billion). Its nine-month net profit jumped 72.6% to 14.3 billion yuan, supported by surging copper prices. LME copper has repeatedly set new highs in 2025, driven by tightening global supply and accelerating demand from electrification and AI-related infrastructure.
Sungrow closed on Thursday with a market value of 368 billion yuan. Revenue in the first three quarters rose 32% to 66.4 billion yuan, while net profit increased 56%, lifted by strong inverter and battery-storage shipments. The company briefly exceeded a 400-billion-yuan valuation after its third-quarter earnings release.
FTSE Russell also made quarterly adjustments to its China A150, A200 and A400 benchmarks. Local brokerages expect passive flows linked to A50-tracking funds to pick up ahead of the December implementation date.
The FTSE China A50, one of the most widely tracked benchmarks for offshore investors seeking exposure to large-cap A-shares, is reviewed quarterly. Analysts said the move points to a broader recalibration of how global benchmarks capture China's evolving market structure and the sectors now driving its growth.
