HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Capital Markets

Shenzhen Camsense Technologies / Equity Capital Markets

<ul>
<li>Camsense is fundamentally a provider of spatial sensing solutions for the intelligent robot field. Its core focus is to offer "eyes" for intelligent devices such as vacuum cleaners </li>
<li>Downward trend in prices is driven by strong bargaining power of downstream customers.When they squeeze profits upward to upstream suppliers to compete for terminal market share, Camsense has little countermeasures</li>
<li>As a consumer-grade LiDAR supplier with relatively weak profitability and narrow application scope, reasonable P/S should be lower than peers. Comfortable range could be 2.5-3.5x P/S, based on 2026 forecast. </li>
</ul>


Camsense is fundamentally a provider of spatial sensing solutions for the intelligent robot field. Its core focus is to offer "eyes" for intelligent devices such as vacuum cleaners 
Downward trend in prices is driven by strong bargaining power of downstream customers.When they squeeze profits upward to upstream suppliers to compete for terminal market share, Camsense has little countermeasures
As a consumer-grade LiDAR supplier with relatively weak profitability and narrow application scope, reasonable P/S should be lower than peers. Comfortable range could be 2.5-3.5x P/S, based on 2026 forecast. 


Pre-IPO Shenzhen Camsense Technologies (PHIP Updates) - Some Points Worth the Attention

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

Index Rebalance

<ul>
<li>There were 31 new listings on the <a href="https://www.smartkarma.com/entities/hong-kong-exchanges-clearing-ltd" target="_blank" data-smartkarma-citation="entities:490:1" rel="noopener">Hong Kong Exchanges and Clearing (388 HK)</a> in Q3, of which 14 were A/H listings.</li>
<li>We forecast 5 additions to the HSCI in December and 2 of those additions will then be added to Southbound Stock Connect. <a href="https://www.smartkarma.com/entities/shein-global-holdings-limited" target="_blank" data-smartkarma-citation="entities:55372:1" rel="noopener">SHEIN</a> was already added to the index earlier.</li>
<li>As a stock with Weighted Voting Rights (WVR), <a href="https://www.smartkarma.com/entities/momenta-global-limited" target="_blank" data-smartkarma-citation="entities:50275:1" rel="noopener">Momenta Global (6880 HK)</a> will need to wait till early February to be added to Southbound Stock Connect.</li>
</ul>


There were 31 new listings on the Hong Kong Exchanges and Clearing (388 HK) in Q3, of which 14 were A/H listings.
We forecast 5 additions to the HSCI in December and 2 of those additions will then be added to Southbound Stock Connect. SHEIN was already added to the index earlier.
As a stock with Weighted Voting Rights (WVR), Momenta Global (6880 HK) will need to wait till early February to be added to Southbound Stock Connect.


HSCI Index Rebalance Preview: Southbound Stock Connect Additions; Momenta Needs a Moment

Hong Kong

Shenzhen Camsense Technologies Co., Ltd. specializes in developing spatial sensing products, with a focus on robotic vacuums, and provides algorithms and hardware for these devices. The company is undergoing a primary listing on the Stock Exchange of Hong Kong Limited to raise capital for enhancing its research and development capabilities, manufacturing, and general corporate purposes.

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

Shenzhen Camsense Technologies (CAMS HK)

Pre-IPO Shenzhen Camsense Technologies (PHIP Updates) - Some Points Worth the Attention

Camsense, as an upstream component supplier, has limited bargaining power and exhibits the typical characteristics of "high growth, low profit"....

Xinyao (Criss) Wang

HSCI Index Rebalance Preview: Southbound Stock Connect Additions; Momenta Needs a Moment

Of the 31 new HKEX listings in Q3, 5 could be added to the HSCI in Dec. 2 of those will then be added to Stock Connect. Momenta is a WVR security...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)