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.

Thematic (Sector/Industry)

<ul>
<li>We tracked AI models, infrastructure, and M&amp;A; this week: Anthropic crossed $30bn ARR above OpenAI for the first time; both labs launched competing enterprise deployment joint ventures.</li>
<li>OpenAI launched GPT-5.5 Instant as ChatGPT's default model and opened its self-serve Ads Manager; ByteDance began Doubao paid subscription testing at up to $69 per month.</li>
<li>China's state fund is in talks to lead DeepSeek's first external round at a $50bn valuation; Cerebras Systems filed an amended S-1 targeting a $26.6bn IPO.</li>
</ul>


We tracked AI models, infrastructure, and M&amp;A; this week: Anthropic crossed $30bn ARR above OpenAI for the first time; both labs launched competing enterprise deployment joint ventures.
OpenAI launched GPT-5.5 Instant as ChatGPT's default model and opened its self-serve Ads Manager; ByteDance began Doubao paid subscription testing at up to $69 per month.
China's state fund is in talks to lead DeepSeek's first external round at a $50bn valuation; Cerebras Systems filed an amended S-1 targeting a $26.6bn IPO.


This Week in AI (May 3-9): Anthropic/OpenAI Deployment Co; China's National Team into DeepSeek

<ul>
<li>We tracked AI models, infrastructure, and M&amp;A; this week: China blocked Meta's $2bn Manus deal; Anthropic weighs a $900bn fundraise.</li>
<li>Microsoft, Alphabet, Amazon, and Meta all raised full-year capex guidance in Q1 earnings; OpenAI ended Microsoft exclusivity and launched on Amazon Bedrock.</li>
<li>DeepSeek cut API prices and Huawei Ascend chip orders surged across Chinese tech firms; China opensource trend continues.</li>
</ul>


We tracked AI models, infrastructure, and M&amp;A; this week: China blocked Meta's $2bn Manus deal; Anthropic weighs a $900bn fundraise.
Microsoft, Alphabet, Amazon, and Meta all raised full-year capex guidance in Q1 earnings; OpenAI ended Microsoft exclusivity and launched on Amazon Bedrock.
DeepSeek cut API prices and Huawei Ascend chip orders surged across Chinese tech firms; China opensource trend continues.


This Week in AI (Apr 26-May 2): China Blocks Manus Deal; Anthropic at $900bn

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 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 CCB, TENCENT, ICBC, CHINA LIFE, BOC, LONGFOR, Legend Biotech, CANMAX TECHNOLOGIES.</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 CCB, TENCENT, ICBC, CHINA LIFE, BOC, LONGFOR, Legend Biotech, CANMAX TECHNOLOGIES.


MS-China Index Earning Revision (Sep): CCB, TENCENT, ICBC, CHINA LIFE, BOC, LONGFOR, Legend Biotech

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

Cross Asset Strategy

<ul><li>In Depth: China Takes on Green Energy Gridlock With Direct Connections</li><li>In Depth: Vanke’s Debt Spiral Reveals Limits of China’s Real Estate Backstop</li><li>Xi and Starmer Pledge to Reset U.K.-China Ties in Beijing Meeting</li></ul>

In Depth: China Takes on Green Energy Gridlock With Direct ConnectionsIn Depth: Vanke’s Debt Spiral Reveals Limits of China’s Real Estate BackstopXi and Starmer Pledge to Reset U.K.-China Ties in Beijing Meeting

CX Daily: China Takes on Green Energy Gridlock With Direct Connections 

<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, TONGCHENG TRAVEL, TRIP.COM, MINIMAX, Kuaishou, LI AUTO, SENSETIME, NIO.</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, TONGCHENG TRAVEL, TRIP.COM, MINIMAX, Kuaishou, LI AUTO, SENSETIME, NIO.


HS TECH Index Earning Revision (Sep): BIDU, TONGCHENG TRAVEL, TRIP.COM, MINIMAX, Kuaishou, LI AUTO

China

SenseTime is a leading artificial intelligence software company that researches, develops, and sells AI software platforms. It provides AI technologies across generative AI, traditional AI, and smart auto, enabling digital transformation for enterprises, smart city management, and applications in IoT, Metaverse, smart health, and automotive. The company was founded in 2014 and is headquartered in Hong Kong.

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SenseTime (20 HK)

This Week in AI (May 3-9): Anthropic/OpenAI Deployment Co; China's National Team into DeepSeek

This week in AI: Anthropic hits $30bn ARR; Anthropic and OpenAI each launch enterprise deployment JVs; China's Big Fund leads DeepSeek at $50bn.

Ke Yan, CFA, FRM

This Week in AI (Apr 26-May 2): China Blocks Manus Deal; Anthropic at $900bn

This week in AI: China blocks Meta's $2bn Manus deal; Anthropic weighs $900bn fundraise; Microsoft, Alphabet, Amazon, Meta all raised capex guidance.

Ke Yan, CFA, FRM

MS-China Index Earning Revision (Sep): CCB, TENCENT, ICBC, CHINA LIFE, BOC, LONGFOR, Legend Biotech

We analyzed MS-China's consensus for Sep 2026 and highlighted changes of EPS in CCB, TENCENT, ICBC, CHINA LIFE, BOC, LONGFOR, Legend Biotech,...

Ke Yan, CFA, FRM

CX Daily: China Takes on Green Energy Gridlock With Direct Connections

TOP STORIES In Depth: China Takes on Green Energy Gridlock With Direct Connections Unlike most wind farms across China, the 500-megawatt facility...

Caixin Global

HS TECH Index Earning Revision (Sep): BIDU, TONGCHENG TRAVEL, TRIP.COM, MINIMAX, Kuaishou, LI AUTO

We analyzed HS TECH's consensus for Sep 2026 and highlighted changes of EPS in BIDU, TONGCHENG TRAVEL, TRIP.COM, MINIMAX, Kuaishou, LI AUTO,...

Ke Yan, CFA, FRM

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