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

DZT Research

DZT 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 analyse the changes of A-H premium on 170 stocks over the last week. The average A-H premium was 68.0% as of Feb 6th.</li>
<li>The average A-H premium changed by 1.6ppt week-on-week, led by utilities, information technology, industrials and offset by consumer staples, energy, communication services.</li>
<li>We highlight weekly changes in A-H premium for China Oilfield Services, Huaxin Building Materials, Cngr Advanced Material, China Suntien Green Energy, Cgn Power, BYD.</li>
</ul>


We analyse the changes of A-H premium on 170 stocks over the last week. The average A-H premium was 68.0% as of Feb 6th.
The average A-H premium changed by 1.6ppt week-on-week, led by utilities, information technology, industrials and offset by consumer staples, energy, communication services.
We highlight weekly changes in A-H premium for China Oilfield Services, Huaxin Building Materials, Cngr Advanced Material, China Suntien Green Energy, Cgn Power, BYD.


A-H Premium Weekly (Feb 6th): China Oilfield Services, Huaxin Building Materials

<ul>
<li>We analyse the changes of A-H premium on 162 stocks over the last week. The average A-H premium was 62.6% as of Jan 16th.</li>
<li>The average A-H premium changed by 0.0ppt week-on-week, led by financials, consumer discretionary and offset by energy, communication services, consumer staples.</li>
<li>We highlight weekly changes in A-H premium for COSCO Shipping Energy, Ganfeng Lithium, China Oilfield Services, Hua Hong Semiconductor, China Everbright Bank, Weichai Power.</li>
</ul>


We analyse the changes of A-H premium on 162 stocks over the last week. The average A-H premium was 62.6% as of Jan 16th.
The average A-H premium changed by 0.0ppt week-on-week, led by financials, consumer discretionary and offset by energy, communication services, consumer staples.
We highlight weekly changes in A-H premium for COSCO Shipping Energy, Ganfeng Lithium, China Oilfield Services, Hua Hong Semiconductor, China Everbright Bank, Weichai Power.


A-H Premium Weekly (Jan 16th): COSCO Shipping Energy, Ganfeng Lithium, China Oilfield Services

<ul>
<li>We analyze the 4Q2025 Shanghai/Shenzhen northbound Connect flows with our data engine as the exchange changed the rule to only disclose north bound position once a quarter.</li>
<li>We estimate that the inflows in 4Q2025 were US$1,590 million and holdings were US$368 billion.</li>
<li>We highlight flows for CATL, CATL, Moutai, Moutai, Luxshare Precision, Luxshare Precision, WEICHAI POWER, WEICHAI POWER, WUXI APPTEC, WUXI APPTEC, BYD, CMB, Mindray, EAST MONEY INFORMATION.</li>
</ul>


We analyze the 4Q2025 Shanghai/Shenzhen northbound Connect flows with our data engine as the exchange changed the rule to only disclose north bound position once a quarter.
We estimate that the inflows in 4Q2025 were US$1,590 million and holdings were US$368 billion.
We highlight flows for CATL, CATL, Moutai, Moutai, Luxshare Precision, Luxshare Precision, WEICHAI POWER, WEICHAI POWER, WUXI APPTEC, WUXI APPTEC, BYD, CMB, Mindray, EAST MONEY INFORMATION.


Northbound Flows (4Q2025): CATL, CATL, Moutai, Moutai, Luxshare Precision, Luxshare Precision

<ul>
<li>We analyse the changes of A-H premium on 162 stocks over the last week. The average A-H premium was 69.1% as of Jan 2nd.</li>
<li>The average A-H premium changed by 1.3ppt week-on-week, led by consumer staples, materials, health care and offset by consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou Automobile, Zijin Mining, Cmoc.</li>
</ul>


We analyse the changes of A-H premium on 162 stocks over the last week. The average A-H premium was 69.1% as of Jan 2nd.
The average A-H premium changed by 1.3ppt week-on-week, led by consumer staples, materials, health care and offset by consumer discretionary.
We highlight weekly changes in A-H premium for Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou Automobile, Zijin Mining, Cmoc.


A-H Premium Weekly (Jan 2nd): Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou Automobile

<ul>
<li>We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 65.7% as of Dec 19th.</li>
<li>The average A-H premium changed by 2.0ppt week-on-week, led by consumer discretionary, information technology, utilities.</li>
<li>We highlight weekly changes in A-H premium for BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric.</li>
</ul>


We analyse the changes of A-H premium on 160 stocks over the last week. The average A-H premium was 65.7% as of Dec 19th.
The average A-H premium changed by 2.0ppt week-on-week, led by consumer discretionary, information technology, utilities.
We highlight weekly changes in A-H premium for BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric.


A-H Premium Weekly (Dec 19th): BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric

China

Designs, manufactures and distributes automotive grade float and locomotive glasses & provides after-sales services

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

Fuyao Glass Industry Group (3606 HK)

A-H Premium Weekly (Feb 6th): China Oilfield Services, Huaxin Building Materials

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Oilfield Services, Huaxin Building Materials, Cngr...

Ke Yan, CFA, FRM

A-H Premium Weekly (Jan 16th): COSCO Shipping Energy, Ganfeng Lithium, China Oilfield Services

We analyzed A-H premium changes in the past week and highlight A-H premium changes for COSCO Shipping Energy, Ganfeng Lithium, China Oilfield...

Ke Yan, CFA, FRM

Northbound Flows (4Q2025): CATL, CATL, Moutai, Moutai, Luxshare Precision, Luxshare Precision

We analyzed Northbound connect data for 4Q2025 and highlight flows for CATL, CATL, Moutai, Moutai, Luxshare Precision, Luxshare Precision, WEICHAI...

Ke Yan, CFA, FRM

A-H Premium Weekly (Jan 2nd): Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou Automobile

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Goldwind, Jiangxi Copper, Fudan Microelectronics, Guangzhou...

Ke Yan, CFA, FRM

A-H Premium Weekly (Dec 19th): BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai Electric

We analyzed A-H premium changes in the past week and highlight A-H premium changes for BankComm, Anjoy Foods, Cosco Shipping Development, Shanghai...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)