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.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of CSI 100 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 ZHONGJI INNOLIGHT, EOPTOLINK TECHNOLOGY, TONGWEI, Longi Green, SERES, ZIJIN MINING, PING AN INSURANCE, GIGADEVICE SEMICONDUCTOR.</li>
</ul>


We analysed the earning revision of component stocks of CSI 100 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 ZHONGJI INNOLIGHT, EOPTOLINK TECHNOLOGY, TONGWEI, Longi Green, SERES, ZIJIN MINING, PING AN INSURANCE, GIGADEVICE SEMICONDUCTOR.


CSI 100 Index Earning Revision (Jul): ZHONGJI INNOLIGHT, EOPTOLINK TECHNOLOGY, TONGWEI, Longi Green

Articles from Caixin Global, Caixin Global

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

Thematic (Sector/Industry)

<ul><li>Chinese exports of solar panels to Europe have surged this year as countries hunt for alternative energy sources to fill the gap left by Russian natural gas.</li><li>In the first seven months of 2022, China shipped photovoltaic (PV) modules with a combined capacity of 51.5 gigawatts to Europe, 25.9% more than the whole of last year</li><li>China is the world’s largest supplier of photovoltaic products and the trade with Europe, including non-European Union countries</li></ul>

Chinese exports of solar panels to Europe have surged this year as countries hunt for alternative energy sources to fill the gap left by Russian natural gas.In the first seven months of 2022, China shipped photovoltaic (PV) modules with a combined capacity of 51.5 gigawatts to Europe, 25.9% more than the whole of last yearChina is the world’s largest supplier of photovoltaic products and the trade with Europe, including non-European Union countries

European Demand for Chinese Solar Panels Soars as Russia Withholds Natural Gas

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>The growth in China A-Share exposure has slowed as we approach full ownership across the EM active fund universe.</li>
<li>China A-Share allocations have remained solid throughout this year’s volatility and heavy country rotation.</li>
<li>Midea Group, Kweichow Moutai and Contemporary Amperex Technology remain the most widely held stocks, but others are starting to make their mark.</li>
</ul>


The growth in China A-Share exposure has slowed as we approach full ownership across the EM active fund universe.
China A-Share allocations have remained solid throughout this year’s volatility and heavy country rotation.
Midea Group, Kweichow Moutai and Contemporary Amperex Technology remain the most widely held stocks, but others are starting to make their mark.


China A-Share Deep Dive:  Growth Slows, but EM Funds Remain Well Invested

<ul>
<li>A record 80.7% of China managers have exposure to the Semiconductor sector at an average weight of 3.68%, or +2.58% overweight the MSCI China benchmark.</li>
<li>Over the last 6-months, Semiconductor allocations have remained largely unchanged, whilst rebalancing occurs among other key industry groups.</li>
<li>With record overweights and stalling ownership growth, active China managers should consider whether overweight is the right stance, at this juncture.</li>
</ul>


A record 80.7% of China managers have exposure to the Semiconductor sector at an average weight of 3.68%, or +2.58% overweight the MSCI China benchmark.
Over the last 6-months, Semiconductor allocations have remained largely unchanged, whilst rebalancing occurs among other key industry groups.
With record overweights and stalling ownership growth, active China managers should consider whether overweight is the right stance, at this juncture.


MSCI China Funds: Semiconductor Growth Stalls

<ul>
<li>China A-Shares allocations continues to grow among active EM investors. Average holding weights sit close to all-time highs of 5.60%, with a record 87.8% of funds invested</li>
<li>Over the past 6-months, EM investors have made a clear rotation in to A-Shares, with all measures of ownership moving higher vs country peers. Growth investors are the key allocators</li>
<li>Ecovacs Robotics Co Ltd and East Money Information have seen ownership levels double, whilst CATL and Midea Group remain the most widely held stocks.</li>
</ul>


China A-Shares allocations continues to grow among active EM investors. Average holding weights sit close to all-time highs of 5.60%, with a record 87.8% of funds invested
Over the past 6-months, EM investors have made a clear rotation in to A-Shares, with all measures of ownership moving higher vs country peers. Growth investors are the key allocators
Ecovacs Robotics Co Ltd and East Money Information have seen ownership levels double, whilst CATL and Midea Group remain the most widely held stocks.


China

LONGi Green Energy Technology Co., Ltd. develops, manufactures and sells silicon rods and silicon wafers. The Company's main products include 6 inch, 6.5 inch and 8 inch monocrystalline silicon rods and wafers.

LONGi Green Energy Technology (601012 CH)

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

LONGi Green Energy Technology (601012 CH)

CSI 100 Index Earning Revision (Jul): ZHONGJI INNOLIGHT, EOPTOLINK TECHNOLOGY, TONGWEI, Longi Green

We analyzed CSI 100's consensus for Jul 2026 and highlighted changes of EPS in ZHONGJI INNOLIGHT (300308 CH), EOPTOLINK TECHNOLOGY (300502 CH),...

Ke Yan, CFA, FRM

European Demand for Chinese Solar Panels Soars as Russia Withholds Natural Gas

Chinese exports of solar panels to Europe have surged this year as countries hunt for alternative energy sources to fill the gap left by Russian...

Caixin Global

MSCI China Funds: Semiconductor Growth Stalls

With near record overweights and stalling ownership growth, active China managers should consider whether overweight Semiconductors is the right...

Steven Holden

China A-Shares: Powering to New Highs

China A-Shares allocations have hit new highs among EM investors. We see a clear rotation in to A-Shares, with all measures of ownership moving...

Steven Holden

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CSI 100 Index Earning Revision (Jul): ZHONGJI INNOLIGHT, EOPTOLINK TECHNOLOGY, TONGWEI, Longi Green

We analyzed CSI 100's consensus for Jul 2026 and highlighted changes of EPS in ZHONGJI INNOLIGHT (300308 CH), EOPTOLINK TECHNOLOGY (300502 CH),...

Ke Yan, CFA, FRM

European Demand for Chinese Solar Panels Soars as Russia Withholds Natural Gas

Chinese exports of solar panels to Europe have surged this year as countries hunt for alternative energy sources to fill the gap left by Russian...

Caixin Global

China A-Share Deep Dive: Growth Slows, but EM Funds Remain Well Invested

China A-Share exposure has seen tremendous growth over the last decade, yet the rate of ownership growth has slowed this year. In this piece we...

Steven Holden

MSCI China Funds: Semiconductor Growth Stalls

With near record overweights and stalling ownership growth, active China managers should consider whether overweight Semiconductors is the right...

Steven Holden

China A-Shares: Powering to New Highs

China A-Shares allocations have hit new highs among EM investors. We see a clear rotation in to A-Shares, with all measures of ownership moving...

Steven Holden