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 analyzed the latest HK SFC report for aggregate short position as of May 15th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Tencent, Yofc, Midea, AIA, Weichai Power, Time Interconnect Technology, China Mobile.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 15th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Tencent, Yofc, Midea, AIA, Weichai Power, Time Interconnect Technology, China Mobile.


HK Short Interest Weekly: Tencent, Yofc, Midea, AIA, Weichai Power, Time Interconnect Technology

Index Rebalance

<ul>
<li>We screen the HSCEI eligible universe for the upcoming May 2026 review.</li>
<li>Two exclusions and two inclusions, all rule-driven under the rank &gt; 60 / rank &lt;= 40 boundaries.</li>
<li>WuXi Bio is a mandatory top-40 add; Hansoh Pharma is the contingent buffer-zone fill.</li>
</ul>


We screen the HSCEI eligible universe for the upcoming May 2026 review.
Two exclusions and two inclusions, all rule-driven under the rank &gt; 60 / rank &lt;= 40 boundaries.
WuXi Bio is a mandatory top-40 add; Hansoh Pharma is the contingent buffer-zone fill.


<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of May 8th.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Tencent, Bidu, CATL, Midea, Meituan, Anta.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of May 8th.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Tencent, Bidu, CATL, Midea, Meituan, Anta.


HK Short Interest Weekly: Tencent, Bidu, CATL, Midea, Meituan, Anta

<ul>
<li>HSCI entry. MiniMax becomes a strong HSCI candidate for June 2026 with MV12 of HKD 225bn.</li>
<li>HS TECH entry. We expect MiniMax to enter HS TECH at the May 2026 review.</li>
<li>HSI barrier. The FY25 net loss will likely fail it for the immediate HSI review.</li>
</ul>


HSCI entry. MiniMax becomes a strong HSCI candidate for June 2026 with MV12 of HKD 225bn.
HS TECH entry. We expect MiniMax to enter HS TECH at the May 2026 review.
HSI barrier. The FY25 net loss will likely fail it for the immediate HSI review.


Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Suzhou Tfc Optical Communi-A / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/suzhou-tfc-optical-communi-a" target="_blank" data-smartkarma-citation="entities:25044:1" rel="noopener">Suzhou Tfc Optical Communi-A (300394 CH)</a> (STFC), an optical interconnect solutions provider, aims to raise around US$2bn in its H-share listing.</li>
<li>SFTC offers one-stop optical interconnect solutions spanning passive optical components, active optical components and integration services.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Suzhou Tfc Optical Communi-A (300394 CH) (STFC), an optical interconnect solutions provider, aims to raise around US$2bn in its H-share listing.
SFTC offers one-stop optical interconnect solutions spanning passive optical components, active optical components and integration services.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: Suzhou TFC Optical Communication A/H Listing - Rising Sales, Steady Margins

China

Hansoh Pharmaceutical is a pharmaceutical company that researches, develops, manufactures, and sells a diverse portfolio of medicines. It focuses on therapeutic areas such as oncology, anti-infectives, central nervous system diseases, metabolic disorders, and autoimmune diseases. The company was founded in 1995 and is headquartered in Shanghai, China.

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

Hansoh Pharmaceutical (3692 HK)

HK Short Interest Weekly: Tencent, Yofc, Midea, AIA, Weichai Power, Time Interconnect Technology

We analyzed the latest HK SFC report for aggregate short position as of May 15th and highlight short interest changes in Tencent (700 HK), Yofc...

Ke Yan, CFA, FRM

HSCEI May 2026 Index Review Forecast

HSCEI May 2026 rebalance announcement due after market close today: a good time to revisit our review forecast as the decision approaches.

Ke Yan, CFA, FRM

HK Short Interest Weekly: Tencent, Bidu, CATL, Midea, Meituan, Anta

We analyzed the latest HK SFC report for aggregate short position as of May 8th and highlight short interest changes in Tencent, Bidu, CATL, Midea,...

Ke Yan, CFA, FRM

MiniMax-W: Index Events Reassessed

We analyze Minimax's upcoming index event and reassess the possibility of its HSI entry. HS TECH and HSCI enter in June; HSI is deferred until the...

Ke Yan, CFA, FRM

Aequitas: Suzhou TFC Optical Communication A/H Listing - Rising Sales, Steady Margins

Suzhou Tfc Optical (300394 CH) (STFC), an optical interconnect solutions provider, aims to raise around US$2bn in its H-share listing. In this...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)