Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Porton Pharma Solutions / Index Rebalance

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>In this insight, we have presented our final expectations for ADDs and DELs for the upcoming semiannual index rebal event in December 2025.</li>
<li>We expect up to six ADDs and six DELs for the CSI Medical Service index during this index review event based on the latest available data.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
In this insight, we have presented our final expectations for ADDs and DELs for the upcoming semiannual index rebal event in December 2025.
We expect up to six ADDs and six DELs for the CSI Medical Service index during this index review event based on the latest available data.


Quiddity Leaderboard CSI Medical Dec25: New Expected DEL Due to Liquidity; US$345mn One-Way

Shandong Weigao Blood Purification Products / Index Rebalance

Shandong Weigao Blood Purification Products (603014 CH)

Shandong Weigao Blood Purification Products

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2025.</li>
<li>We expect up to six ADDs and six DELs for the CSI Medical Service index during this index review event based on the latest available data.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2025.
We expect up to six ADDs and six DELs for the CSI Medical Service index during this index review event based on the latest available data.


Quiddity Leaderboard CSI Medical Dec25: Some Changes to Expected ADDs/DELs; US$362mn One-Way

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2025.</li>
<li>We expect up to five ADDs and four DELs for the CSI Medical Service index during this index review event based on the latest available data.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2025.
We expect up to five ADDs and four DELs for the CSI Medical Service index during this index review event based on the latest available data.


Quiddity Leaderboard CSI Medical Dec25: US$300mn+ One-Way; Some Changes to Expectations

Inner Mongolia Furui Medical Scie / Index Rebalance

Inner Mongolia Furui Medical Scie (300049 CH)

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2025.</li>
<li>We expect up to four ADDs and four DELs for the CSI Medical Service index during this index review event based on the latest available data.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2025.
We expect up to four ADDs and four DELs for the CSI Medical Service index during this index review event based on the latest available data.


Quiddity Leaderboard CSI Medical Dec25: 1x-3x ADV for Most Names; Couple of Pair Trade Ideas

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>CSI announced the changes for the June rebalance after market close on 30 May and the changes will be effective after the close of trading on 13 June.</li>
<li>There are 6 changes for the index and we estimate passive buying of 0.7-2.4x ADV in the adds and passive selling of between 1-4.7x ADV in the deletes.</li>
<li>There will be capping inflows for <a href="https://www.smartkarma.com/entities/shenzhen-mindray-bio-medic-a" target="_blank" data-smartkarma-citation="entities:28017:1" rel="noopener">Shenzhen Mindray Bio-Medical Electronics (300760 CH)</a> and capping outflows for <a href="https://www.smartkarma.com/entities/wuxi-apptec-co-ltd" target="_blank" data-smartkarma-citation="entities:27092:1" rel="noopener">WuXi AppTec (603259 CH)</a>. </li>
</ul>


CSI announced the changes for the June rebalance after market close on 30 May and the changes will be effective after the close of trading on 13 June.
There are 6 changes for the index and we estimate passive buying of 0.7-2.4x ADV in the adds and passive selling of between 1-4.7x ADV in the deletes.
There will be capping inflows for Shenzhen Mindray Bio-Medical Electronics (300760 CH) and capping outflows for WuXi AppTec (603259 CH). 


CSI Medical Service Index Rebalance: Six Changes with Decent Impact

China

Double Medical Technology Inc. operates as an orthopedic devices manufacturing company. The Company produces and sells physical therapy equipment, orthopedic surgical instruments, injection puncture, and other products. Double Medical Technology markets its products throughout China.

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Double Medical Technology (002901 CH)

Quiddity Leaderboard CSI Medical Dec25: New Expected DEL Due to Liquidity; US$345mn One-Way

Harbin Fuerjia Tech (301371 CH) appeared in our leaderboard for the first time in October 2025 (this insight). We currently have this as an...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI Medical Dec25: Some Changes to Expected ADDs/DELs; US$362mn One-Way

We estimate the CSI Medical December 2025 index rebalance to trigger flows of ~US$362mn one-way. On average, the expected DELs have higher impact...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI Medical Dec25: US$300mn+ One-Way; Some Changes to Expectations

We estimate the CSI Medical December 2025 index rebalance to trigger flows of ~US$308mn one-way. Most names have 1x-3x ADV to trade.

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI Medical Dec25: 1x-3x ADV for Most Names; Couple of Pair Trade Ideas

Assuming our expected ADDs/DELs are correct, we estimate index flows of ~US$180mn one-way in December 2025. Most of the expected ADDs/DELs have...

Janaghan Jeyakumar, CFA

CSI Medical Service Index Rebalance: Six Changes with Decent Impact

There are 6 changes for the index with estimated passive buying of 0.7-2.4x ADV in the adds and passive selling of between 1-4.7x ADV in the...

Brian Freitas

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