Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

Jacobio Pharmaceuticals / Equity Bottom-Up

<ul>
<li>Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,100+ insights shared on Smartkarma.</li>
<li>In this cut, we look at optics as a bottleneck in AI infrastructure, the arguments against Indonesia even with low positioning, and some opportunities within Asian healthcare. </li>
<li>Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.</li>
</ul>


Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,100+ insights shared on Smartkarma.
In this cut, we look at optics as a bottleneck in AI infrastructure, the arguments against Indonesia even with low positioning, and some opportunities within Asian healthcare. 
Want to dig deeper? Comment or message with the themes you’d like to see highlighted next.


Curator's Cut: Seeing the Light in AI, Indonesia at Record Lows & Offbeat Ideas in Asia Healthcare

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Goke Microelectronics Co Ltd / Index Rebalance

<ul>
<li>The June 2026 index review results for the ChiNext and ChiNext 50 indices were announced after market close on Friday 29th May 2026.</li>
<li>There will be ten changes for the ChiNext index and five changes for the ChiNext 50 index.</li>
<li>The ChiNext and ChiNext 50 index rebal events could trigger US$1.7bn and US$328mn in one-way flows respectively.</li>
</ul>


The June 2026 index review results for the ChiNext and ChiNext 50 indices were announced after market close on Friday 29th May 2026.
There will be ten changes for the ChiNext index and five changes for the ChiNext 50 index.
The ChiNext and ChiNext 50 index rebal events could trigger US$1.7bn and US$328mn in one-way flows respectively.


Quiddity ChiNext & ChiNext 50 Jun26 Results: Negative Post-Announcement Reaction; US$2bn+ One-Way

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 analysed the earning revision of component stocks of MS-China 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 PDD, UNITED NOVA TECHNOLOGY, MEITUAN, TENCENT, ALIBABA, TCL Zhonghuan, Biwin Storage, XIAOMI.</li>
</ul>


We analysed the earning revision of component stocks of MS-China 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 PDD, UNITED NOVA TECHNOLOGY, MEITUAN, TENCENT, ALIBABA, TCL Zhonghuan, Biwin Storage, XIAOMI.


MS-China Index Earning Revision (Mar): PDD, UNITED NOVA TECHNOLOGY, MEITUAN, TENCENT, ALIBABA

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

Broadex Technologies Co Ltd / Event-Driven

<ul>
<li>With the review period complete, we forecast 10 changes for the <a href="https://www.smartkarma.com/entities/chinext-index" target="_blank" data-smartkarma-citation="entities:25483:1" rel="noopener">ChiNext Index (SZ399006 INDEX)</a> and 5 changes for the ChiNext 50 Index in December.</li>
<li>The largest flows will be in 2 stocks that are forecast adds for both indices. There are 14 stocks with over 0.5x ADV to trade from passive trackers.</li>
<li>The forecast adds outperformed the forecast deletes from June to August, but there has been significant underperformance since then. Outperformance could resume as positioning kicks in prior to announcement.</li>
</ul>


With the review period complete, we forecast 10 changes for the ChiNext Index (SZ399006 INDEX) and 5 changes for the ChiNext 50 Index in December.
The largest flows will be in 2 stocks that are forecast adds for both indices. There are 14 stocks with over 0.5x ADV to trade from passive trackers.
The forecast adds outperformed the forecast deletes from June to August, but there has been significant underperformance since then. Outperformance could resume as positioning kicks in prior to announcement.


ChiNext/​​​ChiNext50 Index Rebalance Preview: Maxing Out the Changes

<ul>
<li>We analysed the earning revision of component stocks of CSI 500 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 Henan Shenhuo Coal &amp; Power, Guangxi Liugong Machinery, Inner Mongolia Dian Tou Energy, Suzhou Dongshan Precision Manufacturing, Shenergy, Maanshan Iron &amp; Steel, Yonghui Superstores.</li>
</ul>


We analysed the earning revision of component stocks of CSI 500 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 Henan Shenhuo Coal &amp; Power, Guangxi Liugong Machinery, Inner Mongolia Dian Tou Energy, Suzhou Dongshan Precision Manufacturing, Shenergy, Maanshan Iron &amp; Steel, Yonghui Superstores.


CSI 500 Index Earning Revision (Jun): Henan Shenhuo Coal & Power, Guangxi Liugong Machinery

China

RoboTechnik Intelligent Technology Co., Ltd designs, develops, and manufactures automated equipment. The Company provides production equipment, storage, sorting and testing, control valves, diffusion processing, and milk packaging automation systems. RoboTechnik Intelligent Technology markets its products in China.

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

Robotechnik Intelligent Te-A (300757 CH)

Curator's Cut: Seeing the Light in AI, Indonesia at Record Lows & Offbeat Ideas in Asia Healthcare

Discover standout themes in AI infrastructure, Indonesia's challenges, and Asian healthcare opportunities in this Curator's Cut issue. Share your...

Pranav Rao

Quiddity ChiNext & ChiNext 50 Jun26 Results: Negative Post-Announcement Reaction; US$2bn+ One-Way

The ADDs have underperformed the DELs for both the ChiNext and ChiNext 50 indices on day one post-announcement (1st June 2026).

Janaghan Jeyakumar, CFA

MS-China Index Earning Revision (Mar): PDD, UNITED NOVA TECHNOLOGY, MEITUAN, TENCENT, ALIBABA

We analyzed MS-China's consensus for Mar 2026 and highlighted changes of EPS in PDD, UNITED NOVA TECHNOLOGY, MEITUAN, TENCENT, ALIBABA, TCL...

Ke Yan, CFA, FRM

ChiNext/ChiNext50 Index Rebalance Preview: Maxing Out the Changes

There could be 10/5 changes for the Chinext/Chinext50 indices in Dec. Largest flows in the 2 stocks that are adds for both indices. Adds...

Brian Freitas

CSI 500 Index Earning Revision (Jun): Henan Shenhuo Coal & Power, Guangxi Liugong Machinery

We analyzed CSI 500's consensus for Jun 2025 and highlighted changes of EPS in Henan Shenhuo Coal & Power (000933 CH), Guangxi Liugong Machinery...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Curator's Cut: Seeing the Light in AI, Indonesia at Record Lows & Offbeat Ideas in Asia Healthcare

​Discover standout themes in AI infrastructure, Indonesia's challenges, and Asian healthcare opportunities in this Curator's Cut issue. Share your...

Pranav Rao

Quiddity ChiNext & ChiNext 50 Jun26 Results: Negative Post-Announcement Reaction; US$2bn+ One-Way

The ADDs have underperformed the DELs for both the ChiNext and ChiNext 50 indices on day one post-announcement (1st June 2026).

Janaghan Jeyakumar, CFA

MS-China Index Earning Revision (Mar): PDD, UNITED NOVA TECHNOLOGY, MEITUAN, TENCENT, ALIBABA

We analyzed MS-China's consensus for Mar 2026 and highlighted changes of EPS in PDD, UNITED NOVA TECHNOLOGY, MEITUAN, TENCENT, ALIBABA, TCL...

Ke Yan, CFA, FRM

ChiNext/​​​ChiNext50 Index Rebalance Preview: Maxing Out the Changes

There could be 10/5 changes for the Chinext/Chinext50 indices in Dec. Largest flows in the 2 stocks that are adds for both indices. Adds...

Brian Freitas

CSI 500 Index Earning Revision (Jun): Henan Shenhuo Coal & Power, Guangxi Liugong Machinery

We analyzed CSI 500's consensus for Jun 2025 and highlighted changes of EPS in Henan Shenhuo Coal & Power (000933 CH), Guangxi Liugong Machinery...

Ke Yan, CFA, FRM

Discover standout themes in AI infrastructure, Indonesia's challenges, and Asian healthcare opportunities in this Curator's Cut issue. Share your...

ChiNext/ChiNext50 Index Rebalance Preview: Maxing Out the Changes