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

Shenton Research

Shenton 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.

Index Rebalance

<ul>
<li>We screen the Hong Kong-listed mainland stocks ahead of the HSCEI August 2026 review.</li>
<li>The screen produces one ADD and one DELETE, and the DELETE fires only if the ADD lands.</li>
<li>We note that the committee skipped the same ADD candidate last review but re-iterate our call.</li>
</ul>


We screen the Hong Kong-listed mainland stocks ahead of the HSCEI August 2026 review.
The screen produces one ADD and one DELETE, and the DELETE fires only if the ADD lands.
We note that the committee skipped the same ADD candidate last review but re-iterate our call.


Quantitative Analysis

<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 BIDU, XPENG, NIO, XIAOMI, JD.COM.</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 BIDU, XPENG, NIO, XIAOMI, JD.COM.


HS TECH Index Earning Revision (Jul): BIDU, XPENG, NIO, XIAOMI, JD.COM

<ul>
<li>We analysed the earning revision of component stocks of HSCEI 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 CNOOC, PING AN, CHINA HONGQIAO, XPENG, CHINA LIFE, JD.COM.</li>
</ul>


We analysed the earning revision of component stocks of HSCEI 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 CNOOC, PING AN, CHINA HONGQIAO, XPENG, CHINA LIFE, JD.COM.


HSCEI Index Earning Revision (Jul): CNOOC, PING AN, CHINA HONGQIAO, XPENG, CHINA LIFE, JD.COM

<ul>
<li>We analysed the earning revision of component stocks of HSI 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 XINYI SOLAR, CNOOC, PING AN, HSBC, CHINA LIFE, LONGFOR, JD.COM.</li>
</ul>


We analysed the earning revision of component stocks of HSI 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 XINYI SOLAR, CNOOC, PING AN, HSBC, CHINA LIFE, LONGFOR, JD.COM.


HSI Index Earning Revision (Jul): XINYI SOLAR, CNOOC, PING AN, HSBC, CHINA LIFE, LONGFOR, JD.COM

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>BYD is also making an inroad towards intelligence driving, democratizing LIDAR but also made <strong>The World’s First Dual "Full Damage Coverage" Pledge.  </strong>
</li>
<li>2026 1H was marked with a combination of a slow 1Q and a more promising 2Q thanks to new model launch and growing export business. </li>
<li>
<a href="https://www.smartkarma.com/entities/byd-company-limited-class-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD Company (1211 HK)</a> is trading at 6.5x EV//EBITDA while still being the largest EV makers globally. </li>
</ul>


BYD is also making an inroad towards intelligence driving, democratizing LIDAR but also made The World’s First Dual "Full Damage Coverage" Pledge.  

2026 1H was marked with a combination of a slow 1Q and a more promising 2Q thanks to new model launch and growing export business. 

BYD Company (1211 HK) is trading at 6.5x EV//EBITDA while still being the largest EV makers globally. 


China

Li Auto Inc. designs, develops, manufactures, and sells premium smart electric vehicles, including extended-range electric vehicles (EREVs) and battery electric vehicles (BEVs). Their product line includes multi-purpose vehicles (MPVs) and sport utility vehicles (SUVs). The company was founded in 2015 and is headquartered in Beijing, China.

Price Gauge
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Li Auto (2015 HK)

HSCEI Sep 2026 Index Rebalance Forecast

We pair a WuXi Bio ADD with a Shenzhou DELETE at mid conviction. The committee skipped WuXi Bio last review, but this time we would not rule the...

Ke Yan, CFA, FRM

HS TECH Index Earning Revision (Jul): BIDU, XPENG, NIO, XIAOMI, JD.COM

We analyzed HS TECH's consensus for Jul 2026 and highlighted changes of EPS in BIDU (9888 HK), XPENG (9868 HK), NIO (9866 HK), XIAOMI (1810 HK),...

Ke Yan, CFA, FRM

HSCEI Index Earning Revision (Jul): CNOOC, PING AN, CHINA HONGQIAO, XPENG, CHINA LIFE, JD.COM

We analyzed HSCEI's consensus for Jul 2026 and highlighted changes of EPS in CNOOC, PING AN, CHINA HONGQIAO, XPENG, CHINA LIFE, JD.COM.

Ke Yan, CFA, FRM

HSI Index Earning Revision (Jul): XINYI SOLAR, CNOOC, PING AN, HSBC, CHINA LIFE, LONGFOR, JD.COM

We analyzed HSI's consensus for Jul 2026 and highlighted changes of EPS in XINYI SOLAR, CNOOC, PING AN, HSBC, CHINA LIFE, LONGFOR, JD.COM.

Ke Yan, CFA, FRM

BYD (1211): Stabile and Growing Export

BYD is leading in intelligence driving and offers the world's first dual "full damage coverage" pledge, trading at 6.5x EV/EBITDA as the largest...

Henry Soediarko

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

HSCEI Sep 2026 Index Rebalance Forecast

We pair a WuXi Bio ADD with a Shenzhou DELETE at mid conviction. The committee skipped WuXi Bio last review, but this time we would not rule the...

Ke Yan, CFA, FRM

HS TECH Index Earning Revision (Jul): BIDU, XPENG, NIO, XIAOMI, JD.COM

We analyzed HS TECH's consensus for Jul 2026 and highlighted changes of EPS in BIDU (9888 HK), XPENG (9868 HK), NIO (9866 HK), XIAOMI (1810 HK),...

Ke Yan, CFA, FRM

HSCEI Index Earning Revision (Jul): CNOOC, PING AN, CHINA HONGQIAO, XPENG, CHINA LIFE, JD.COM

We analyzed HSCEI's consensus for Jul 2026 and highlighted changes of EPS in CNOOC, PING AN, CHINA HONGQIAO, XPENG, CHINA LIFE, JD.COM.

Ke Yan, CFA, FRM

HSI Index Earning Revision (Jul): XINYI SOLAR, CNOOC, PING AN, HSBC, CHINA LIFE, LONGFOR, JD.COM

We analyzed HSI's consensus for Jul 2026 and highlighted changes of EPS in XINYI SOLAR, CNOOC, PING AN, HSBC, CHINA LIFE, LONGFOR, JD.COM.

Ke Yan, CFA, FRM

BYD (1211): Stabile and Growing Export

​BYD is leading in intelligence driving and offers the world's first dual "full damage coverage" pledge, trading at 6.5x EV/EBITDA as the largest...

Henry Soediarko

BYD is leading in intelligence driving and offers the world's first dual "full damage coverage" pledge, trading at 6.5x EV/EBITDA as the largest...