Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Qingdao Haier Biomedical  Lt / Index Rebalance

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical themes from the Shanghai, Shenzhen, and Beijing Exchanges.</li>
<li>In this insight, we have presented our current expectations for ADDs and DELs for the upcoming semiannual index rebal event in June 2026.</li>
<li>We expect three ADDs and three DELs for the CSI Medical Service index during this index review event based on the latest available data.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical themes from the Shanghai, Shenzhen, and Beijing Exchanges.
In this insight, we have presented our current expectations for ADDs and DELs for the upcoming semiannual index rebal event in June 2026.
We expect three ADDs and three DELs for the CSI Medical Service index during this index review event based on the latest available data.


Quiddity Leaderboard CSI Medical Jun26: Three Changes Likely; US$244 Mn One-Way

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Our outlook remains unchanged as the weight of the evidence continues to suggest a mixed, but overall constructive market. Cyclical value Sectors continue to be our favorite areas to overweight (i.e., Energy, Materials, Manufacturing, and Transportation), while defensive Sectors also continue to be worth a look (i.e., Staples, Health Care, and Real Estate).

Our outlook remains unchanged as the weight of the evidence continues to suggest a mixed, but overall constructive market. Cyclical value Sectors continue to be our favorite areas to overweight (i.e., Energy, Materials, Manufacturing, and Transportation), while defensive Sectors also continue to be worth a look (i.e., Staples, Health Care, and Real Estate). 

Global Equity Strategy: Value Remains Leadership But Defensives Improving

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Thematic (Sector/Industry)

1. Industry viewpoints:<ul>
<li>The official document about the 4th volume-based purchase (VBP) was issued to clarify the relevant varieties and rules, and the bidding will start on February 3rd, 2021.</li>
<li>Biobanks and vaccines are the main driving force for the overall cryogenic storage market to continue to grow at a high rate in the future.</li>
<li>Currently, the “AI + medical” industry is in a period of rapid growth.</li>
</ul>2. Company news:News about the progress of innovative medical device, new drugs and new licensing agreement from <a href="https://www.smartkarma.com/entities/venus-medtech-hangzhou-inc" target="_blank" data-smartkarma-citation="entities:28257:1" rel="noopener">Venus MedTech (2500 HK)</a>, <a href="https://www.smartkarma.com/entities/gracell-biotechnologies-inc" target="_blank" data-smartkarma-citation="entities:31108:1" rel="noopener">Gracell Biotechnologies Inc (GRCL US)</a>, <a href="https://www.smartkarma.com/entities/innovent-biologics-inc" target="_blank" data-smartkarma-citation="entities:27452:1" rel="noopener">Innovent Biologics Inc (1801 HK)</a>, and <a href="https://www.smartkarma.com/entities/alphamab-oncology" target="_blank" data-smartkarma-citation="entities:28213:1" rel="noopener">Alphamab Co Ltd (9966 HK)</a>.3. Market review: Last week, stock price for healthcare sector in A share increased 7.79%, while CSI 300 increased 2.05% over the same period of time.4. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

1. Industry viewpoints:
The official document about the 4th volume-based purchase (VBP) was issued to clarify the relevant varieties and rules, and the bidding will start on February 3rd, 2021.
Biobanks and vaccines are the main driving force for the overall cryogenic storage market to continue to grow at a high rate in the future.
Currently, the “AI + medical” industry is in a period of rapid growth.
2. Company news:News about the progress of innovative medical device, new drugs and new licensing agreement from Venus MedTech (2500 HK), Gracell Biotechnologies Inc (GRCL US), Innovent Biologics Inc (1801 HK), and Alphamab Co Ltd (9966 HK).3. Market review: Last week, stock price for healthcare sector in A share increased 7.79%, while CSI 300 increased 2.05% over the same period of time.4. Risk disclosure:Policy risk, R&amp;D risk, Company risk and COVID-19 risk.

Guangzhou Wondfo Biotech C-A / Index Rebalance

<ul>
<li>The June 2026 index review results for the CSI Medical Service Index were announced after market close on Friday 29th May 2026.</li>
<li>There will be 3 ADDs and 3 DELETEs for the CSI Medical Service index.</li>
<li>We expect one-way flows of approximately US$134mn in the June 2026 index rebal event.</li>
</ul>


The June 2026 index review results for the CSI Medical Service Index were announced after market close on Friday 29th May 2026.
There will be 3 ADDs and 3 DELETEs for the CSI Medical Service index.
We expect one-way flows of approximately US$134mn in the June 2026 index rebal event.


Quiddity CSI Medical Jun26 Results: 5/6 Correctly Predicted; US$134mn One-Way Flows

<ul>
<li>CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.</li>
<li>In this insight, we have presented our final expectations for ADDs and DELs for the upcoming semiannual index rebal event in June 2026.</li>
<li>We expect three ADDs and three DELs for the CSI Medical Service index during this index review event.</li>
</ul>


CSI Medical Service represents the top 50 largest and most-liquid stocks involved in medical devices, medical care, medical informatization, and other medical theme from the Shanghai, Shenzhen and Beijing Exchanges.
In this insight, we have presented our final expectations for ADDs and DELs for the upcoming semiannual index rebal event in June 2026.
We expect three ADDs and three DELs for the CSI Medical Service index during this index review event.


Quiddity Leaderboard CSI Medical Jun26: Final Expectations

China

Qingdao Haier Biomedical Co., Ltd. designs, manufacture, and markets low temperature storage equipment for biomedical samples. The Company provides complete storage solutions for biological sample banks, blood safety, vaccine safety, medical supplies, and reagent safety as well. Qingdao Haier Biomedical

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Qingdao Haier Biomedical Lt (688139 CH)

Quiddity Leaderboard CSI Medical Jun26: Three Changes Likely; US$244 Mn One-Way

We estimate the CSI Medical June 2026 index rebalance to trigger flows of ~US$244mn one-way. The flow impacts range from 1x to 4x ADV for the...

Janaghan Jeyakumar, CFA

Global Equity Strategy: Value Remains Leadership But Defensives Improving

Cyclical value Sectors continue to be our favorite areas to overweight, while defensive Sectors also continue to be worth a look (i.e., Staples,...

Vermilion Research

China Healthcare Weekly (Jan.22)

The article analyzed the new official document for the volume-based purchase,industry viewpoints on China cryogenic storage market and “AI +...

Xinyao (Criss) Wang

Quiddity CSI Medical Jun26 Results: 5/6 Correctly Predicted; US$134mn One-Way Flows

All of the confirmed changes except for one CSI Medical ADD Shanghai MicroPort EP MedTech (688351 CH) were in our final expected ADDs/DELs list....

Janaghan Jeyakumar, CFA

Quiddity Leaderboard CSI Medical Jun26: Final Expectations

We estimate the CSI Medical June 2026 index rebalance to trigger one-way flow of ~US$319mn. The results could be announced on 29th May 2026.

Janaghan Jeyakumar, CFA

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