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Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>In Depth: Could Pfizer’s drug Paxlovid change China’s Covid policy?</li><li>Shackled mother was sold into forced marriages at least three times, probe finds</li><li>China loosens new mobile payment rules to put small businesses at ease</li></ul>

In Depth: Could Pfizer’s drug Paxlovid change China’s Covid policy?Shackled mother was sold into forced marriages at least three times, probe findsChina loosens new mobile payment rules to put small businesses at ease

CX Daily: Could Pfizer’s Drug Paxlovid Change China’s Covid Policy?

Research on Tech Companies

Evelyn Zhang

Thematic (Sector/Industry)

The recent fall in price of many so called “China concept shares” of US listed Chinese companies, has largely been triggered by the passing of the "Holding Foreign Company Accountability Act" (HFCAA).A flock of US listed Chinese companies have since decided to relist in HKSE due to a few reasons:<ol>
<li>The HFCAA causing conflicting compliance requirements with Chinese regulations.</li>
<li>Fear among investors of forced delisting in the US.</li>
<li>HKEX deregulation allowing more Chinese companies to be listed.</li>
<li>The valuation in HK is in sync with the U.S. stock market.</li>
<li>HK attracting more Chinese funds to operate in HKEX.</li>
</ol>

The recent fall in price of many so called “China concept shares” of US listed Chinese companies, has largely been triggered by the passing of the "Holding Foreign Company Accountability Act" (HFCAA).A flock of US listed Chinese companies have since decided to relist in HKSE due to a few reasons:
The HFCAA causing conflicting compliance requirements with Chinese regulations.
Fear among investors of forced delisting in the US.
HKEX deregulation allowing more Chinese companies to be listed.
The valuation in HK is in sync with the U.S. stock market.
HK attracting more Chinese funds to operate in HKEX.


Exit the Dragon – the Mass Exodus of US Listed Chinese Companies

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>HSTECH tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.</li>
<li>In this insight, we take a look at the rankings of potential ADDs/DELs for the September 2026 index rebal event.</li>
<li>We see zero index changes based on the latest available data. However, there could be US$234mn in one-way due to capping.</li>
</ul>


HSTECH tracks the performance of the top 30 technology companies listed in Hong Kong that have high business exposure to certain technology themes.
In this insight, we take a look at the rankings of potential ADDs/DELs for the September 2026 index rebal event.
We see zero index changes based on the latest available data. However, there could be US$234mn in one-way due to capping.


Quiddity Leaderboard HSTECH Sep26: Zero Changes Likely but Geely Question Mark Exists

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 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 Xinjiang Daqo, TENCENT, MEITUAN, TONGWEI, XIAOMI, PDD, NTES.</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 Xinjiang Daqo, TENCENT, MEITUAN, TONGWEI, XIAOMI, PDD, NTES.


MS-China Index Earning Revision (May): Xinjiang Daqo, TENCENT, MEITUAN, TONGWEI, XIAOMI, PDD, NTES

<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 ALIBABA, TENCENT, PDD, JIANGSU EASTERN SHENGHONG, TRINA SOLAR, GDS, China Life, PING AN INSURANCE.</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 ALIBABA, TENCENT, PDD, JIANGSU EASTERN SHENGHONG, TRINA SOLAR, GDS, China Life, PING AN INSURANCE.


MS-China Index Earning Revision (Feb): ALIBABA, TENCENT, PDD

China

GDS Holdings is a leading developer and operator of high-performance data centers in China. The company provides colocation, managed hosting, and managed cloud services, serving hyperscale cloud service providers, large internet companies, financial institutions, and telecommunications carriers. GDS Holdings was founded in 2001 and is headquartered in Shanghai, China.

Price Gauge
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GDS Holdings (9698 HK)

CX Daily: Could Pfizer’s Drug Paxlovid Change China’s Covid Policy?

In Depth: Could Pfizer’s drug Paxlovid change China’s Covid policy? Shackled mother was sold into forced marriages at least three times, probe finds

Caixin Global

Exit the Dragon – the Mass Exodus of US Listed Chinese Companies

Is US-China financial decoupling affecting the US stock market? What's the future of US listed Chinese companies l? How can investors in China...

Evelyn Zhang

Quiddity Leaderboard HSTECH Sep26: Zero Changes Likely but Geely Question Mark Exists

Currently, capping flows are not very significant. The most significant outflow name is NetEase (9999 HK) which could have 0.8x ADV to sell...

Janaghan Jeyakumar, CFA

MS-China Index Earning Revision (May): Xinjiang Daqo, TENCENT, MEITUAN, TONGWEI, XIAOMI, PDD, NTES

We analyzed MS-China's consensus for May 2026 and highlighted changes of EPS in Xinjiang Daqo, TENCENT, MEITUAN, TONGWEI, XIAOMI, PDD, NTES.

Ke Yan, CFA, FRM

MS-China Index Earning Revision (Feb): ALIBABA, TENCENT, PDD

We analyzed MS-China's consensus for Feb 2026 and highlighted changes of EPS in ALIBABA (9988 HK), TENCENT (700 HK), PDD Holdings (PDD US).

Ke Yan, CFA, FRM

Price Gauge

52-week Range

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