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 162 stocks over the last week. The average A-H premium was 60.8% as of Jan 9th.</li>
<li>The average A-H premium changed by -8.4ppt week-on-week, led by health care, information technology, energy.</li>
<li>We highlight weekly changes in A-H premium for Hua Hong Semiconductor, China Coal Energy, Wuxi Apptec, Joinn Lab, Cmoc, Goldwind.</li>
</ul>


We analyse the changes of A-H premium on 162 stocks over the last week. The average A-H premium was 60.8% as of Jan 9th.
The average A-H premium changed by -8.4ppt week-on-week, led by health care, information technology, energy.
We highlight weekly changes in A-H premium for Hua Hong Semiconductor, China Coal Energy, Wuxi Apptec, Joinn Lab, Cmoc, Goldwind.


A-H Premium Weekly (Jan 9th): Hua Hong Semiconductor, China Coal Energy, Wuxi Apptec, Joinn Lab

<ul>
<li>We analyzed the latest HK SFC report for aggregate short position as of Jan 2nd.</li>
<li>Top short increases and decreases were tabulated for one week and four week period.</li>
<li>We highlight short changes in Alibaba, Meituan, AIA, ABC, Sensetime.</li>
</ul>


We analyzed the latest HK SFC report for aggregate short position as of Jan 2nd.
Top short increases and decreases were tabulated for one week and four week period.
We highlight short changes in Alibaba, Meituan, AIA, ABC, Sensetime.


HK Short Interest Weekly: Alibaba, Meituan, AIA, ABC, Sensetime

<ul>
<li>We analyze the monthly Hong Kong Connect flows with our data engine.</li>
<li>We tabulate the top stocks by inflows, outflows, and holding by mainland investors.</li>
<li>We highlight flows of Xiaomi, Meituan, China Mobile, Tencent, CMB.</li>
</ul>


We analyze the monthly Hong Kong Connect flows with our data engine.
We tabulate the top stocks by inflows, outflows, and holding by mainland investors.
We highlight flows of Xiaomi, Meituan, China Mobile, Tencent, CMB.


Hong Kong Connect Flows (December): Lowest Monthly Inflows in a Year

<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 analysed the earning revision of component stocks of HS TECH 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 Kuaishou, MEITUAN, JD.COM, LI AUTO, BIDU.</li>
</ul>


We analysed the earning revision of component stocks of HS TECH 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 Kuaishou, MEITUAN, JD.COM, LI AUTO, BIDU.


HS TECH Index Earning Revision (Dec): Kuaishou, MEITUAN, JD.COM, LI AUTO, BIDU, Bidu, Meituan

China

Hua Hong Semiconductor is a global pure-play semiconductor foundry specializing in embedded/standalone non-volatile memory, power discrete, analog & power management, and logic & RF technologies. The company provides diversified wafer fabrication and supporting services for various specialty process platforms. It is headquartered in Shanghai, China, and was founded in 2005.

Price Gauge
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Hua Hong Semiconductor (1347 HK)

A-H Premium Weekly (Jan 9th): Hua Hong Semiconductor, China Coal Energy, Wuxi Apptec, Joinn Lab

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Hua Hong Semiconductor, China Coal Energy, Wuxi Apptec,...

Ke Yan, CFA, FRM

HK Short Interest Weekly: Alibaba, Meituan, AIA, ABC, Sensetime

We analyzed the latest HK SFC report for aggregate short position as of Jan 2nd and highlight short interest changes in Alibaba, Meituan, AIA, ABC,...

Ke Yan, CFA, FRM

Hong Kong Connect Flows (December): Lowest Monthly Inflows in a Year

We analyzed Hong Kong Connect flows for December. While we highlight flows for Xiaomi, Meituan, China Mobile, Tencent and CMB, we also note that...

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

HS TECH Index Earning Revision (Dec): Kuaishou, MEITUAN, JD.COM, LI AUTO, BIDU, Bidu, Meituan

We analyzed HS TECH's consensus for Dec 2025 and highlighted changes of EPS in Kuaishou, MEITUAN, JD.COM, LI AUTO, BIDU.

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)