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.

Index Rebalance

<ul>
<li>We screen the STAR Market eligible universe ahead of the STAR50 Sep 2026 review.</li>
<li>Four stocks stand out as high-conviction ADDs this cycle, all with clear rank cushions.</li>
<li>We expect 3 high-conviction DELETEs and 2 mid-conviction DELETEs due to their proximity to the edge of DELETE zone.</li>
</ul>


We screen the STAR Market eligible universe ahead of the STAR50 Sep 2026 review.
Four stocks stand out as high-conviction ADDs this cycle, all with clear rank cushions.
We expect 3 high-conviction DELETEs and 2 mid-conviction DELETEs due to their proximity to the edge of DELETE zone.


Equity Capital Markets

Ingenic Semiconductor / Equity Capital Markets

<ul>
<li>Ingenic Semiconductor, a fabless memory and computing IC designer, is seeking an A+H listing. GTJA is the sole sponsor.</li>
<li>We look at the company's core segments: memory ICs and computing ICs.</li>
<li>We discuss our preliminary thoughts on the company's valuation based on the A-H premium.</li>
</ul>


Ingenic Semiconductor, a fabless memory and computing IC designer, is seeking an A+H listing. GTJA is the sole sponsor.
We look at the company's core segments: memory ICs and computing ICs.
We discuss our preliminary thoughts on the company's valuation based on the A-H premium.


Ingenic Semiconductor (北京君正) A+H Pre-IPO: Early Thoughts

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

<ul>
<li>STAR 50 and STAR 100 are tech-focused, blue-chip indices in Mainland China which track the top largest and most liquid names in the STAR market of the Shanghai Stock Exchange.</li>
<li>In this insight, we look at the potential ADDs/DELs for the STAR50/STAR100 indices for the September 2026 index rebal event.</li>
<li>The STAR 50 and STAR 100 index rebal events could collectively trigger nearly US$2bn in one-way flows.</li>
</ul>


STAR 50 and STAR 100 are tech-focused, blue-chip indices in Mainland China which track the top largest and most liquid names in the STAR market of the Shanghai Stock Exchange.
In this insight, we look at the potential ADDs/DELs for the STAR50/STAR100 indices for the September 2026 index rebal event.
The STAR 50 and STAR 100 index rebal events could collectively trigger nearly US$2bn in one-way flows.


Quiddity Leaderboard STAR 50/100 Sep26: ADDs/DELs Mostly Final; ~US$2bn Combined One-Way Flow

Beijing E-Town Semiconductor Technology / Index Rebalance

Beijing E-Town Semiconductor Technology (688729 CH)

<ul>
<li>STAR 50 and STAR 100 are tech-focused, blue-chip indices in Mainland China which track the top largest and most liquid names in the STAR market of the Shanghai Stock Exchange.</li>
<li>In this insight, we look at the potential ADDs/DELs for the STAR50/STAR100 indices for the September 2026 index rebal event.</li>
<li>Some of the names involved in the index changes could have multiple days to trade.</li>
</ul>


STAR 50 and STAR 100 are tech-focused, blue-chip indices in Mainland China which track the top largest and most liquid names in the STAR market of the Shanghai Stock Exchange.
In this insight, we look at the potential ADDs/DELs for the STAR50/STAR100 indices for the September 2026 index rebal event.
Some of the names involved in the index changes could have multiple days to trade.


Quiddity Leaderboard STAR 50/100 Sep26: Special Focus on Peric (688146) And Sichuan Huafeng (688629)

MetaX Integrated Circuits / Index Rebalance

<ul>
<li>The June 2026 index review results for the STAR 50 and STAR 100 indices were announced after market close on Friday 29th May 2026.</li>
<li>There will be four ADDs/DELs for the STAR 50 index and ten ADDs/DELs for the STAR 100 index.</li>
<li>We expect one-way flows of approximately US$2.1bn and US$432mn for the STAR 50 and STAR 100 index rebal events, respectively.</li>
</ul>


The June 2026 index review results for the STAR 50 and STAR 100 indices were announced after market close on Friday 29th May 2026.
There will be four ADDs/DELs for the STAR 50 index and ten ADDs/DELs for the STAR 100 index.
We expect one-way flows of approximately US$2.1bn and US$432mn for the STAR 50 and STAR 100 index rebal events, respectively.


Quiddity STAR 50/100 Jun26 Results: 7/8 Correct for STAR 50, Some Surprises Among STAR 100 ADDs

China

Dosilicon Co., Ltd. operates as a small and medium-sized memory design company. The Company designs, develops, produces, and distributes NAND Flash, NOR Flash, DRAM, MCP, and provides related technical services. Dosilicon supplies its products in communication, security monitoring, wearable devices, and mobile terminals, and other fields.

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Dosilicon (688110 CH)

STAR50 Sep 2026 Index Rebalance Forecast

We expect 4 High Conviction ADDs and 1 Mid Conviction ADD, against 3 High Conviction DELETEs and 2 Mid Conviction DELETEs on rank shortfall depth.

Ke Yan, CFA, FRM

Ingenic Semiconductor (北京君正) A+H Pre-IPO: Early Thoughts

Ingenic Semiconductor is seeking an A+H listing. In this note, we look at the company's business, its industry context and provide our early...

Ke Yan, CFA, FRM

Quiddity Leaderboard STAR 50/100 Sep26: ADDs/DELs Mostly Final; ~US$2bn Combined One-Way Flow

We expect five changes for STAR 50 and most of these names have individual flow sizes larger than US$100mn and have multiple days of volume to trade.

Janaghan Jeyakumar, CFA

Quiddity Leaderboard STAR 50/100 Sep26: Special Focus on Peric (688146) And Sichuan Huafeng (688629)

We see Peric Special Gases (688146 CH) and Sichuan Huafeng Tech (688629 CH) as STAR 100 DELs because they are too large STAR 100 (but not large...

Janaghan Jeyakumar, CFA

Quiddity STAR 50/100 Jun26 Results: 7/8 Correct for STAR 50, Some Surprises Among STAR 100 ADDs

We predicted 7/8 STAR 50 index changes correctly. However, there were some surprises among the STAR 100 ADDs which might have been due to the...

Janaghan Jeyakumar, CFA

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