Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Thematic (Sector/Industry)

<ul>
<li>China is rapidly integrating artificial intelligence (AI) and robotics into its industrial sector to cement its position as a global leader in high-tech manufacturing.</li>
<li>With technological prowess, a large, established manufacturing base, and government support, Chinese factories will dominate automated manufacturing globally for the foreseeable future.</li>
<li>We look at a basket of Chinese manufacturers who are benefiting from automation with AI and robotics.  All the companies export a substantial portion of their products.</li>
</ul>


China is rapidly integrating artificial intelligence (AI) and robotics into its industrial sector to cement its position as a global leader in high-tech manufacturing.
With technological prowess, a large, established manufacturing base, and government support, Chinese factories will dominate automated manufacturing globally for the foreseeable future.
We look at a basket of Chinese manufacturers who are benefiting from automation with AI and robotics.  All the companies export a substantial portion of their products.


CHINA: Industrial Manufacturing Companies Up Their Game With Robotics!

Index Rebal Trades & Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal Trades & Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Tianjin Zhonghuan Semiconductor / Index Rebalance

<ul>
<li>CSI 300 represents the 300 largest stocks by market cap and liquidity from the Shanghai and Shenzhen Exchanges. CSI 500 is the next 500 names.</li>
<li>In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2025.</li>
<li>Currently, we see 11 ADDs/DELs for the CSI 300 index and 50 ADDs/DELs for the CSI 500 index.</li>
</ul>


CSI 300 represents the 300 largest stocks by market cap and liquidity from the Shanghai and Shenzhen Exchanges. CSI 500 is the next 500 names.
In this insight, we take a look at the potential ADDs and DELs leading the race for the semiannual index rebal event in December 2025.
Currently, we see 11 ADDs/DELs for the CSI 300 index and 50 ADDs/DELs for the CSI 500 index.


Quiddity Leaderboard CSI 300/​​500 Dec25: Inflows Vs Outflows Positive So Far But Time For Caution

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 57.8% as of Sep 12th.</li>
<li>The average A-H premium changed by -2.5ppt week-on-week, led by information technology, consumer staples, financials and offset by consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for China Longyuan Power, Fudan Microelectronics, Zijin Mining, CSSC O&amp;M Engineering, Baiyunshan Pharma, SMIC.</li>
</ul>


We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 57.8% as of Sep 12th.
The average A-H premium changed by -2.5ppt week-on-week, led by information technology, consumer staples, financials and offset by consumer discretionary.
We highlight weekly changes in A-H premium for China Longyuan Power, Fudan Microelectronics, Zijin Mining, CSSC O&amp;M Engineering, Baiyunshan Pharma, SMIC.


A-H Premium Weekly (Sep 12th): China Longyuan Power, Fudan Microelectronics, Zijin Mining

<ul>
<li>We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 60.1% as of Sep 5th.</li>
<li>The average A-H premium changed by -0.9ppt week-on-week, led by utilities, energy, health care and offset by real estate, consumer discretionary.</li>
<li>We highlight weekly changes in A-H premium for China Zheshang Bank, China Communications Construction, Goldwind, Weichai Power.</li>
</ul>


We analyse the changes of A-H premium on 157 stocks over the last week. The average A-H premium was 60.1% as of Sep 5th.
The average A-H premium changed by -0.9ppt week-on-week, led by utilities, energy, health care and offset by real estate, consumer discretionary.
We highlight weekly changes in A-H premium for China Zheshang Bank, China Communications Construction, Goldwind, Weichai Power.


A-H Premium Weekly (Sep 5th): China Zheshang Bank, China Communications Construction, Goldwind

HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>1H25 earnings of our coverage are generally weaker than expected, with a 5.9% growth; for 2H25, the consensus forecasts point to a further slowdown to 4%. </li>
<li>The Chinese airlines, <a href="https://www.smartkarma.com/entities/shanghai-electric-group-company-limited-d542164d-4d5a-4ce0-b33e-5fe6bc34722c" target="_blank" data-smartkarma-citation="entities:8777:1" rel="noopener">Shanghai Electric Group (2727 HK)</a>, <a href="https://www.smartkarma.com/entities/sany-heavy-equipment-intl" target="_blank" data-smartkarma-citation="entities:11104:1" rel="noopener">Sany Heavy Equipment (631 HK)</a>, and <a href="https://www.smartkarma.com/entities/china-travel-international-investment-hong-kong" target="_blank" data-smartkarma-citation="entities:3879:1" rel="noopener">China Travel International Investment (308 HK)</a> exhibit the best YoY growth in 2H25. </li>
<li>Container shipping and trade-related companies like <a href="https://www.smartkarma.com/entities/china-cosco-holdings-h" target="_blank" data-smartkarma-citation="entities:286:1" rel="noopener">COSCO Shipping Holdings (1919 HK)</a>, and <a href="https://www.smartkarma.com/entities/orient-overseas-international" target="_blank" data-smartkarma-citation="entities:801:1" rel="noopener">Orient Overseas International (316 HK)</a> are expected to see earnings plunge in 2H25.</li>
</ul>


1H25 earnings of our coverage are generally weaker than expected, with a 5.9% growth; for 2H25, the consensus forecasts point to a further slowdown to 4%. 
The Chinese airlines, Shanghai Electric Group (2727 HK), Sany Heavy Equipment (631 HK), and China Travel International Investment (308 HK) exhibit the best YoY growth in 2H25. 
Container shipping and trade-related companies like COSCO Shipping Holdings (1919 HK), and Orient Overseas International (316 HK) are expected to see earnings plunge in 2H25.


China Strategy: 1H25 Roundup and Implications for 2H25

China

Shanghai Electric Group Company Limited, through its subsidiaries, designs, manufactures, sells, and services a wide range of products and services in the power equipment, electromechanical equipment, transportation equipment and environmental system industries.

Shanghai Electric Group Company (2727 HK)

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

Shanghai Electric Group Company (2727 HK)

CHINA: Industrial Manufacturing Companies Up Their Game With Robotics!

China is rapidly integrating artificial intelligence (AI) and robotics into its industrial sector to cement its position as a global leader in high...

David Mudd

Quiddity Leaderboard CSI 300/500 Dec25: Inflows Vs Outflows Positive So Far But Time For Caution

The Dec25 CSI 300 rebal could cause US$5.9bn in one-way flows and the CSI 500 rebal could cause US$4.8bn in one-way flows.

Janaghan Jeyakumar, CFA

A-H Premium Weekly (Sep 12th): China Longyuan Power, Fudan Microelectronics, Zijin Mining

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Longyuan Power, Fudan Microelectronics, Zijin Mining,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Sep 5th): China Zheshang Bank, China Communications Construction, Goldwind

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Zheshang Bank, China Communications Construction,...

Ke Yan, CFA, FRM

China Strategy: 1H25 Roundup and Implications for 2H25

1H25 earnings weaker than expected with 5.9% growth; 2H25 forecasts show further slowdown to 4%. Chinese airlines and trade-related companies...

Osbert Tang, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CHINA: Industrial Manufacturing Companies Up Their Game With Robotics!

China is rapidly integrating artificial intelligence (AI) and robotics into its industrial sector to cement its position as a global leader in high...

David Mudd

Quiddity Leaderboard CSI 300/​​500 Dec25: Inflows Vs Outflows Positive So Far But Time For Caution

The Dec25 CSI 300 rebal could cause US$5.9bn in one-way flows and the CSI 500 rebal could cause US$4.8bn in one-way flows.

Janaghan Jeyakumar, CFA

A-H Premium Weekly (Sep 12th): China Longyuan Power, Fudan Microelectronics, Zijin Mining

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Longyuan Power, Fudan Microelectronics, Zijin Mining,...

Ke Yan, CFA, FRM

A-H Premium Weekly (Sep 5th): China Zheshang Bank, China Communications Construction, Goldwind

We analyzed A-H premium changes in the past week and highlight A-H premium changes for China Zheshang Bank, China Communications Construction,...

Ke Yan, CFA, FRM

China Strategy: 1H25 Roundup and Implications for 2H25

​1H25 earnings weaker than expected with 5.9% growth; 2H25 forecasts show further slowdown to 4%. Chinese airlines and trade-related companies...

Osbert Tang, CFA

Quiddity Leaderboard CSI 300/500 Dec25: Inflows Vs Outflows Positive So Far But Time For Caution

1H25 earnings weaker than expected with 5.9% growth; 2H25 forecasts show further slowdown to 4%. Chinese airlines and trade-related companies...