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.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of CSI 100 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 PING AN INSURANCE, CITIC SECURITIES, SHANDONG GOLD MINING, POLY DEVELOPMENTS AND, EAST MONEY INFORMATION, Longi Green, ZHONGJI INNOLIGHT, SERES.</li>
</ul>


We analysed the earning revision of component stocks of CSI 100 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 PING AN INSURANCE, CITIC SECURITIES, SHANDONG GOLD MINING, POLY DEVELOPMENTS AND, EAST MONEY INFORMATION, Longi Green, ZHONGJI INNOLIGHT, SERES.


CSI 100 Index Earning Revision (Dec): PING AN INSURANCE, CITIC SECURITIES, SHANDONG GOLD MINING

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>
<a href="https://www.smartkarma.com/entities/cmoc-group-ltd" target="_blank" data-smartkarma-citation="entities:28168:1" rel="noopener">CMOC (603993 CH)</a> and <a href="https://www.smartkarma.com/entities/sungrow-power-supply-co-ltd" target="_blank" data-smartkarma-citation="entities:4255:1" rel="noopener">Sungrow Power Supply (300274 CH)</a> will replace <a href="https://www.smartkarma.com/entities/maanshan-dingtai-rare-a" target="_blank" data-smartkarma-citation="entities:4128:1" rel="noopener">S.F. Holding (002352 CH)</a> and <a href="https://www.smartkarma.com/entities/bank-of-jiangsu-co-ltd" target="_blank" data-smartkarma-citation="entities:27216:1" rel="noopener">Bank of Jiangsu (600919 CH)</a> in the ETFs at the close on 19 December.</li>
<li>Passive trackers will need to trade between 0.1-0.5 days of ADV in the constituent changes.</li>
<li>The adds have outperformed the deletes by a big margin over the last 6 months. After a period of underperformance in November, the adds have started moving higher again.</li>
</ul>



CMOC (603993 CH) and Sungrow Power Supply (300274 CH) will replace S.F. Holding (002352 CH) and Bank of Jiangsu (600919 CH) in the ETFs at the close on 19 December.
Passive trackers will need to trade between 0.1-0.5 days of ADV in the constituent changes.
The adds have outperformed the deletes by a big margin over the last 6 months. After a period of underperformance in November, the adds have started moving higher again.


China A50 ETF Rebalance: Two Sets of Changes

<ul>
<li>We analysed the earning revision of component stocks of CSI 100 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 CHINA VANKE, PING AN INSURANCE, BOE TECHNOLOGY, TCL TECHNOLOGY, COSCO SHIPPING, GANFENG LITHIUM, Cosco Shipping, Ping An Insurance, China Vanke, Boe Technology, Tcl Technology.</li>
</ul>


We analysed the earning revision of component stocks of CSI 100 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 CHINA VANKE, PING AN INSURANCE, BOE TECHNOLOGY, TCL TECHNOLOGY, COSCO SHIPPING, GANFENG LITHIUM, Cosco Shipping, Ping An Insurance, China Vanke, Boe Technology, Tcl Technology.


CSI 100 Index Earning Revision (Nov): CHINA VANKE, PING AN INSURANCE, BOE, TCL

<ul>
<li>We analysed the earning revision of component stocks of CSI 100 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 GANFENG LITHIUM, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS, PING AN INSURANCE, GREE ELECTRIC APPLIANCES, Moutai, CAMBRICON TECHNOLOGIES, BYD, CSSC, Ping An Insurance, BYD, Cssc, Moutai.</li>
</ul>


We analysed the earning revision of component stocks of CSI 100 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 GANFENG LITHIUM, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS, PING AN INSURANCE, GREE ELECTRIC APPLIANCES, Moutai, CAMBRICON TECHNOLOGIES, BYD, CSSC, Ping An Insurance, BYD, Cssc, Moutai.


CSI 100 Index Earning Revision (Oct): GANFENG LITHIUM, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS

<ul>
<li>We analysed the earning revision of component stocks of CSI 100 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 CAMBRICON TECHNOLOGIES, CHINA VANKE, ZIJIN MINING, TONGWEI, CSCE, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS, TCL TECHNOLOGY, Zijin Mining, Tcl Technology, China Vanke.</li>
</ul>


We analysed the earning revision of component stocks of CSI 100 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 CAMBRICON TECHNOLOGIES, CHINA VANKE, ZIJIN MINING, TONGWEI, CSCE, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS, TCL TECHNOLOGY, Zijin Mining, Tcl Technology, China Vanke.


CSI 100 Index Earning Revision (Aug): CAMBRICON, CHINA VANKE, ZIJIN MINING, TONGWEI

China

Sungrow Power Supply Company Limited develops, produces, sells and provides services for solar PV inverters, wind power converters and other power supply. The Company also provides system solutions to renewable energy industry users.

Price Gauge
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Sungrow Power Supply (300274 CH)

CSI 100 Index Earning Revision (Dec): PING AN INSURANCE, CITIC SECURITIES, SHANDONG GOLD MINING

We highlighted EPS revision on PING AN INSURANCE, CITIC SECURITIES, SHANDONG GOLD MINING, POLY DEVELOPMENTS AND, EAST MONEY INFORMATION, Longi...

Ke Yan, CFA, FRM

China A50 ETF Rebalance: Two Sets of Changes

CMOC and Sungrow Power will replace SF Holdings and Bank of Jiangsu in the A50 ETFs in December. Both sets of changes were expected and passive...

Brian Freitas

CSI 100 Index Earning Revision (Nov): CHINA VANKE, PING AN INSURANCE, BOE, TCL

We analyzed CSI 100's consensus for Nov 2025 and highlighted changes of EPS in CHINA VANKE (000002 CH), PING AN INSURANCE (601318 CH), BOE...

Ke Yan, CFA, FRM

CSI 100 Index Earning Revision (Oct): GANFENG LITHIUM, CHONGQING ZHIFEI BIOLOGICAL PRODUCTS

We analyzed CSI 100's consensus for Oct 2025 and highlighted changes of EPS in GANFENG LITHIUM (002460 CH), CHONGQING ZHIFEI BIOLOGICAL PRODUCTS...

Ke Yan, CFA, FRM

CSI 100 Index Earning Revision (Aug): CAMBRICON, CHINA VANKE, ZIJIN MINING, TONGWEI

We analyzed CSI 100's consensus for Aug 2025 and highlighted changes of EPS in CAMBRICON TECHNOLOGIES (688256 CH), CHINA VANKE (000002 CH), ZIJIN...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)