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

Shenzhen Salubris Pharmaceuticals A / Index Rebalance

Shenzhen Salubris Pharmaceuticals A (002294 CH)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/dongxing-securities-co-ltd" target="_blank" data-smartkarma-citation="entities:25320:1" rel="noopener">Dongxing Securities (601198 CH)</a> and <a href="https://www.smartkarma.com/entities/cinda-securities-company-limited" target="_blank" data-smartkarma-citation="entities:45389:1" rel="noopener">Cinda Securities (601059 CH)</a> shares will stop trading after 14 September following the merger with <a href="https://www.smartkarma.com/entities/china-international-capital-co" target="_blank" data-smartkarma-citation="entities:33010:1" rel="noopener">China International Capital (601995 CH)</a>. </li>
<li>There will be buying in <a href="https://www.smartkarma.com/entities/china-international-capital-co" target="_blank" data-smartkarma-citation="entities:33010:1" rel="noopener">China International Capital (601995 CH)</a> from global index trackers at the close on Monday.</li>
<li>There will be additions and other flows for the <a href="https://www.smartkarma.com/entities/shanghai-shenzhen-csi-300-index" target="_blank" data-smartkarma-citation="entities:22906:1" rel="noopener">CSI 300 Index</a>, <a href="https://www.smartkarma.com/entities/csi-smallcap-500-index-shang" target="_blank" data-smartkarma-citation="entities:35347:1" rel="noopener">CSI 500 Index</a> and the CSI 1000 Index at the time of delisting of <a href="https://www.smartkarma.com/entities/dongxing-securities-co-ltd" target="_blank" data-smartkarma-citation="entities:25320:1" rel="noopener">Dongxing Securities</a> and <a href="https://www.smartkarma.com/entities/cinda-securities-company-limited" target="_blank" data-smartkarma-citation="entities:45389:1" rel="noopener">Cinda Securities</a>.</li>
</ul>



Dongxing Securities (601198 CH) and Cinda Securities (601059 CH) shares will stop trading after 14 September following the merger with China International Capital (601995 CH). 
There will be buying in China International Capital (601995 CH) from global index trackers at the close on Monday.
There will be additions and other flows for the CSI 300 Index, CSI 500 Index and the CSI 1000 Index at the time of delisting of Dongxing Securities and Cinda Securities.


CICC/ Dongxing Sec/ Cinda Sec Merger: Index Flows Next Week & More Later

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

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

Research Reinvented

Equity Bottom-Up

Shenzhen Salubris Pharmaceuticals A / Equity Bottom-Up

<ul>
  <li>Shenzhen Salubris is undergoing a strategic pivot from a generics-focused pharmaceutical company to an innovation-driven entity, concentrating on the high-growth Cardiovascular, Kidney, and Metabolic (CKM) therapeutic areas.</li>
  <li>The company's legacy generics business faces significant headwinds from China's national Volume-Based Procurement (VBP) policy, which has led to sharp price reductions and revenue pressure in this segment.</li>
  <li>Future growth is heavily dependent on the successful development and commercialization of its innovative drug pipeline, which, while promising, faces intense competition from both domestic and international pharmaceutical giants.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Shenzhen Salubris is undergoing a strategic pivot from a generics-focused pharmaceutical company to an innovation-driven entity, concentrating on the high-growth Cardiovascular, Kidney, and Metabolic (CKM) therapeutic areas.
  The company's legacy generics business faces significant headwinds from China's national Volume-Based Procurement (VBP) policy, which has led to sharp price reductions and revenue pressure in this segment.
  Future growth is heavily dependent on the successful development and commercialization of its innovative drug pipeline, which, while promising, faces intense competition from both domestic and international pharmaceutical giants.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Shenzhen Salubris Pharmaceuticals A (002294 CH) - Aug 2026

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.

Equity Capital Markets

Shenzhen Salubris Pharmaceuticals A / Equity Capital Markets

<ul>
<li>Salubris, a CKM-focused innovative pharmaceutical company, is seeking an A+H listing. Goldman Sachs, Citi, and CITIC are the sponsors.</li>
<li>We look at the company's core segments: innovative drugs and other pharmaceuticals.</li>
<li>We discuss our preliminary thoughts on the company's valuation based on A-H premium.</li>
</ul>


Salubris, a CKM-focused innovative pharmaceutical company, is seeking an A+H listing. Goldman Sachs, Citi, and CITIC are the sponsors.
We look at the company's core segments: innovative drugs and other pharmaceuticals.
We discuss our preliminary thoughts on the company's valuation based on A-H premium.


Salubris (信立泰) A+H Pre-IPO: Early Thoughts

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Huolinhe Opencut Coal Ind Corp Ltd. / Index Rebalance

Huolinhe Opencut Coal Ind Corp Ltd. (002128 CH)

<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 rankings for the semiannual index rebal event in December 2026.</li>
<li>Currently, we see 30 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 rankings for the semiannual index rebal event in December 2026.
Currently, we see 30 ADDs/DELs for the CSI 300 index and 50 ADDs/DELs for the CSI 500 index.


Quiddity Leaderboard CSI 300/​​500 Dec26: Inflow Names Beginning to Rebound Against Outflow Names

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.

Shenzhen Salubris Pharmaceuticals / Equity Capital Markets

Shenzhen Salubris Pharmaceuticals (SLBRS HK)

<ul>
<li>Salubris, a CKM-focused innovative pharmaceutical company, is seeking an A+H listing. GS, Citi and CITIC are the joint sponsors.</li>
<li>While our previous note covers the fundamentals of the company, in this note we look at its business development, 1H26 results and A-H premium moves.</li>
<li>We raise our A-H premium base case for the company, given the shift in peer A-H premiums.</li>
</ul>


Salubris, a CKM-focused innovative pharmaceutical company, is seeking an A+H listing. GS, Citi and CITIC are the joint sponsors.
While our previous note covers the fundamentals of the company, in this note we look at its business development, 1H26 results and A-H premium moves.
We raise our A-H premium base case for the company, given the shift in peer A-H premiums.


Salubris (信立泰) A+H Pre-IPO: 1H26 Results Update

China

Shenzhen Salubris Pharmaceuticals Co., Ltd. develops, manufactures, and distributes pharmaceutical and healthcare products such as tablets, capsules, injection formulations and active pharmaceutical ingredients.

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Shenzhen Salubris Pharmaceuticals A (002294 CH)

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Primer: Shenzhen Salubris Pharmaceuticals A (002294 CH) - Aug 2026

Shenzhen Salubris is undergoing a strategic pivot from a generics-focused pharmaceutical company to an innovation-driven entity, concentrating...

αSK Primers

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Salubris (信立泰) A+H Pre-IPO: 1H26 Results Update

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Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

CICC/ Dongxing Sec/ Cinda Sec Merger: Index Flows Next Week & More Later

Dongxing Sec and Cinda Sec stop trading from 15 Sep following the merger with CICC. There are changes for the CSI300/500/1000 indices and passive...

Brian Freitas

Primer: Shenzhen Salubris Pharmaceuticals A (002294 CH) - Aug 2026

Shenzhen Salubris is undergoing a strategic pivot from a generics-focused pharmaceutical company to an innovation-driven entity, concentrating...

αSK Primers

Salubris (信立泰) A+H Pre-IPO: Early Thoughts

Salubris is seeking an A+H listing. In this note, we look at the company's business, its industry context and provide our early thought on valuation.

Ke Yan, CFA, FRM

Quiddity Leaderboard CSI 300/​​500 Dec26: Inflow Names Beginning to Rebound Against Outflow Names

On average, the current expected inflow names have outperformed the current expected outflow names since the beginning of August. This is a...

Janaghan Jeyakumar, CFA

Salubris (信立泰) A+H Pre-IPO: 1H26 Results Update

Salubris is seeking an A+H listing. In this note we update the company's fundamentals and business development since our last coverage.

Ke Yan, CFA, FRM

Quiddity Leaderboard CSI 300/500 Dec26: Inflow Names Beginning to Rebound Against Outflow Names