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

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Index Rebalance

<ul>
<li>The review period ended last week. There will either be 4 or 5 changes to the <a href="https://www.smartkarma.com/entities/sse-science-and-technology-innovation-board-50-index" target="_blank" data-smartkarma-citation="entities:29279:1" rel="noopener">SSE STAR50 (STAR50 INDEX)</a> depending on the minimum listing history period used.</li>
<li>
<a href="https://www.smartkarma.com/entities/shanghai-medicilon-inc" target="_blank" data-smartkarma-citation="entities:30368:1" rel="noopener">Shanghai Medicilon Inc (688202 CH)</a> is a high probability inclusion while there are 4 high probability deletions, irrespective of the minimum listing history period used.</li>
<li>The potential inclusions have continued to drop and have underperformed the potential deletions. The next couple of weeks could see a reversal in that trend.</li>
</ul>


The review period ended last week. There will either be 4 or 5 changes to the SSE STAR50 (STAR50 INDEX) depending on the minimum listing history period used.

Shanghai Medicilon Inc (688202 CH) is a high probability inclusion while there are 4 high probability deletions, irrespective of the minimum listing history period used.
The potential inclusions have continued to drop and have underperformed the potential deletions. The next couple of weeks could see a reversal in that trend.


STAR50 Index Rebalance Preview (March 2022): Falling Knives

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Equity Bottom-Up

Shenzhen Chipscreen Bioscience / Equity Bottom-Up

Shenzhen Chipscreen Bioscience (688321 CH)

<ul>
<li>The small market space of peripheral T-cell lymphoma indication and the fierce market competition of other indications, products and candidates make the Company’s future commercialization performance uncertain. </li>
<li>The continuous large investment in R&amp;D, high selling expenses, and declining R&amp;D expending capitalization would further drag down profitability.</li>
<li>So, our view is that we are conservative about Chipscreen Biosciences’s outlook at the current stage.</li>
</ul>


The small market space of peripheral T-cell lymphoma indication and the fierce market competition of other indications, products and candidates make the Company’s future commercialization performance uncertain. 
The continuous large investment in R&amp;D, high selling expenses, and declining R&amp;D expending capitalization would further drag down profitability.
So, our view is that we are conservative about Chipscreen Biosciences’s outlook at the current stage.


Shenzhen Chipscreen Biosciences (688321.CH) - Risks Outweigh Opportunities

<ul>
<li>The main question, for yet another rebalance, is whether the index committee chooses a 6 month minimum listing history or increases it to 12 months in line with the methodology.</li>
<li>That decision will result in either 4 or 5 changes at the rebalance. The deletions remain the same, while there is only 1 inclusion common across both lists.</li>
<li>There is a fair bit to trade on the potential inclusions and exclusions and we expect the inclusions to outperform the deletions over the next couple of months.</li>
</ul>


The main question, for yet another rebalance, is whether the index committee chooses a 6 month minimum listing history or increases it to 12 months in line with the methodology.
That decision will result in either 4 or 5 changes at the rebalance. The deletions remain the same, while there is only 1 inclusion common across both lists.
There is a fair bit to trade on the potential inclusions and exclusions and we expect the inclusions to outperform the deletions over the next couple of months.


STAR50 Index Rebalance Preview (March 2022): What Will The Index Committee Do?

China

Shenzhen Chipscreen Biosciences Co., Ltd. operates as a drug development company. The Company produces and sells anticancer drugs, immunological disease therapeutic drugs, metabolic disease therapeutic drugs, and other products. Shenzhen Chipscreen Biosciences markets its products throughout China.

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Shenzhen Chipscreen Bioscience (688321 CH)

STAR50 Index Rebalance Preview (March 2022): Falling Knives

There could be 4 or 5 changes to the index in March depending on the minimum listing history used. Turnover will be around 5% and the impact on the...

Brian Freitas

Shenzhen Chipscreen Biosciences (688321.CH) - Risks Outweigh Opportunities

This insight analyzed Chipscreen Biosciences about its key products/candidates, small market space of PTCL, fierce competition, single product...

Xinyao (Criss) Wang

STAR50 Index Rebalance Preview (March 2022): What Will The Index Committee Do?

There could be 4 or 5 changes to the STAR50 Index at the March rebalance depending on whether the index committee uses a 6 month or 12 month...

Brian Freitas

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