Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-China in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, CHINA LIFE, GCL TECHNOLOGY, PDD.</li>
</ul>


We analysed the earning revision of component stocks of MS-China in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, CHINA LIFE, GCL TECHNOLOGY, PDD.


MS-China Index Earning Revision (Aug): KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, PDD

Index Rebalance

Han'S Laser Technology In A / Index Rebalance

<ul>
<li>MS-China rebalance involved 33 ADDs and 32 DELETEs on 1 Sep 2026. We review the bridge to 31 Aug against the first implementation week record of nine prior cycles.</li>
<li>ADDs gave back part of their pre-announcement run over the bridge, down 1.8% on average with 20 of 33 lower. DELETEs fell 5.9%, lower in 25 of 32.</li>
<li>Historically, the first implementation week after a negative bridge has been small and mixed on both sides. We map each velocity group to its matching historical record below.</li>
</ul>


MS-China rebalance involved 33 ADDs and 32 DELETEs on 1 Sep 2026. We review the bridge to 31 Aug against the first implementation week record of nine prior cycles.
ADDs gave back part of their pre-announcement run over the bridge, down 1.8% on average with 20 of 33 lower. DELETEs fell 5.9%, lower in 25 of 32.
Historically, the first implementation week after a negative bridge has been small and mixed on both sides. We map each velocity group to its matching historical record below.


MS-China Sep 2026 Index Rebalance: Pre-Implementation Update

<ul>
<li>We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 79.8% as of Aug 21st.</li>
<li>The average A-H premium changed by -3.0ppt week-on-week, led by communication services, utilities, health care.</li>
<li>We highlight weekly changes in A-H premium for Smic, China South Air, Gtht, Yankuang Energy, China Telecom, Haier Smarthome.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 79.8% as of Aug 21st.
The average A-H premium changed by -3.0ppt week-on-week, led by communication services, utilities, health care.
We highlight weekly changes in A-H premium for Smic, China South Air, Gtht, Yankuang Energy, China Telecom, Haier Smarthome.


A-H Premium Weekly (Aug 21st): Smic, China South Air, Gtht, Yankuang Energy, China Telecom

<ul>
<li>We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 82.7% as of Aug 14th.</li>
<li>The average A-H premium changed by 1.0ppt week-on-week, led by consumer staples, health care, materials and offset by information technology, energy, real estate.</li>
<li>We highlight weekly changes in A-H premium for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict, China Telecom.</li>
</ul>


We analyse the changes of A-H premium on 196 stocks over the last week. The average A-H premium was 82.7% as of Aug 14th.
The average A-H premium changed by 1.0ppt week-on-week, led by consumer staples, health care, materials and offset by information technology, energy, real estate.
We highlight weekly changes in A-H premium for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict, China Telecom.


A-H Premium Weekly (Aug 14th): Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict

Chery Automobile Co. Ltd. / Index Rebalance

<ul>
<li>We screen China stocks ahead of a global index's August 2026 quarterly review, with 16 ADD and 22 DELETE candidates.</li>
<li>Nine of 16 ADD candidates are Information Technology names, and six cleared the May cutoffs without being added.</li>
<li>The DELETE list splits into 12 names below the retention lines across the full cutoff range and 10 borderline names.</li>
</ul>


We screen China stocks ahead of a global index's August 2026 quarterly review, with 16 ADD and 22 DELETE candidates.
Nine of 16 ADD candidates are Information Technology names, and six cleared the May cutoffs without being added.
The DELETE list splits into 12 names below the retention lines across the full cutoff range and 10 borderline names.


MS-China Sep 2026 Index Rebalance Forecast

China

Dajin Heavy Industry Corporation manufactures and sells wind turbine frames, offshore wind turbine frames and infrastructures, thermal boiler island steel structures and offshore oil and gas rigs industrial structures.  The Company sells its products to utility companies in China.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Dividend (Yield)	0.00

Dajin Heavy Industry Corp A (002487 CH)

MS-China Index Earning Revision (Aug): KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, PDD

We analyzed MS-China's consensus for Aug 2026 and highlighted changes of EPS in KINGBOARD HLDG, LI AUTO, XIAOMI, TRINA SOLAR, TENCENT, CHINA LIFE,...

Ke Yan, CFA, FRM

MS-China Sep 2026 Index Rebalance: Pre-Implementation Update

MS-China enters implementation on 1 Sep with 33 ADDs and 32 DELETEs. We update post-announcement stock performance and discuss implementation trades.

Ke Yan, CFA, FRM

A-H Premium Weekly (Aug 21st): Smic, China South Air, Gtht, Yankuang Energy, China Telecom

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Smic, China South Air, Gtht, Yankuang Energy, China Telecom,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Aug 14th): Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare Ict

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Muyuan Foods Group Co Ltd-H, Innocare Pharma Ltd-H, Luxshare...

Ke Yan, CFA, FRM

MS-China Sep 2026 Index Rebalance Forecast

We forecast 16 ADD candidates and 22 DELETE candidates for the MS-China August 2026 Quarterly Index Review, with the announcement expected after US...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)