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 analyzed the changes in margin trading positions of A-share stocks as of May 22nd. The aggregated net margin trading position is USD389,895m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in JIANGSU XINQUAN AUTOMOTIVE TRIM, LENS TECHNOLOGY, BOE, YUANJIE SEMI, ZHONGJI INNOLIGHT.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of May 22nd. The aggregated net margin trading position is USD389,895m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in JIANGSU XINQUAN AUTOMOTIVE TRIM, LENS TECHNOLOGY, BOE, YUANJIE SEMI, ZHONGJI INNOLIGHT.


A-Share Margin Trading Weekly (May 22nd): JIANGSU XINQUAN AUTOMOTIVE TRIM, LENS TECHNOLOGY, BOE

<ul>
<li>We analyzed the changes in margin trading positions of A-share stocks as of May 15th. The aggregated net margin trading position is USD387,426m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in PING AN INSURANCE, GUOTAI HAITONG SECURITIES CO.,LTD. #601211), S.F., Wuliangye, SHENZHEN SALUBRIS PHARMACEUTICALS.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of May 15th. The aggregated net margin trading position is USD387,426m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in PING AN INSURANCE, GUOTAI HAITONG SECURITIES CO.,LTD. #601211), S.F., Wuliangye, SHENZHEN SALUBRIS PHARMACEUTICALS.


A-Share Margin Trading Weekly (May 15th): PING AN INSURANCE

<ul>
<li>We analyzed the changes in margin trading positions of A-share stocks as of May 8th. The aggregated net margin trading position is USD378,563m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in PING AN INSURANCE, Wuliangye, Kingsoft Office Software, AECC AVIATION POWER, MONTAGE.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of May 8th. The aggregated net margin trading position is USD378,563m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in PING AN INSURANCE, Wuliangye, Kingsoft Office Software, AECC AVIATION POWER, MONTAGE.


A-Share Margin Trading Weekly (May 8th): PING AN INSURANCE, Wuliangye, Kingsoft Office Software

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

Verisilicon Microelectronics S / Equity Capital Markets

Verisilicon Microelectronics S (688521 CH)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/verisilicon-microelectronics-s" target="_blank" data-smartkarma-citation="entities:32183:1" rel="noopener">Verisilicon Microelectronics S (688521 CH)</a> (VM), which offers custom silicon solution and semiconductor IP licensing services, aims to raise around US$1bn in its H-share listing.</li>
<li>According to CIC, VM was the largest IP provider in the Chinese mainland and the eighth-largest globally in terms of IP revenue in 2025.</li>
<li>In this note, we look at its past performance and other deal dynamics that might impact the listing.</li>
</ul>



Verisilicon Microelectronics S (688521 CH) (VM), which offers custom silicon solution and semiconductor IP licensing services, aims to raise around US$1bn in its H-share listing.
According to CIC, VM was the largest IP provider in the Chinese mainland and the eighth-largest globally in terms of IP revenue in 2025.
In this note, we look at its past performance and other deal dynamics that might impact the listing.


Aequitas: VeriSilicon Microelectronics A/H Listing - Growth Picking up but at the Cost of Margins

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

Unimicron Technology / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/unimicron-technology-corp" target="_blank" data-smartkarma-citation="entities:18778:1" rel="noopener">Unimicron Technology (3037 TT)</a> (UT) is looking to raise around US$2.5bn in its upcoming global depository receipts (GDRs) offering.</li>
<li>On 10th Apr 2026, UT announced its board’s resolution to issue 100m common shares via a GDR offering, to purchase raw materials, replenish working capital and repay loans from proceeds.</li>
<li>Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops. </li>
</ul>



Unimicron Technology (3037 TT) (UT) is looking to raise around US$2.5bn in its upcoming global depository receipts (GDRs) offering.
On 10th Apr 2026, UT announced its board’s resolution to issue 100m common shares via a GDR offering, to purchase raw materials, replenish working capital and repay loans from proceeds.
Similar to previous GDR listings, the deal is a drawn out process with the firm required to jump through a number of board/shareholder/regulatory approval loops. 


Aequitas: Unimicron Technology GDR Early Look-Small Deal to Digest; Backed by Strong Recent Momentum

China

Suzhou Dongshan Precision Manufacturing Co., Ltd. develops, manufactures and sells precision metal plate and cast metal.  The Company's products include communication equipment precision metal part, and machine bed precision metal part.

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Suzhou Dongshan Precision A (002384 CH)

Aequitas: VeriSilicon Microelectronics A/H Listing - Growth Picking up but at the Cost of Margins

Verisilicon Microelectronics (688521 CH) (VM), which offers custom silicon solution and semiconductor IP licensing services, aims to raise around...

Sumeet Singh

Aequitas: Unimicron Technology GDR Early Look-Small Deal to Digest; Backed by Strong Recent Momentum

Unimicron Technology is looking to raise around US$2.6bn in its upcoming GDR offering. On 10th Apr 2026, UT announced its board’s resolution to...

Akshat Shah

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

A-Share Margin Trading Weekly (May 22nd): JIANGSU XINQUAN AUTOMOTIVE TRIM, LENS TECHNOLOGY, BOE

We analyzed A-share margin trading positions report for the past week and highlighted JIANGSU XINQUAN AUTOMOTIVE TRIM, LENS TECHNOLOGY, BOE,...

Ke Yan, CFA, FRM

A-Share Margin Trading Weekly (May 15th): PING AN INSURANCE

We analyzed A-share margin trading positions report for the past week and highlighted PING AN INSURANCE (601318 CH), GUOTAI HAITONG SECURITIES...

Ke Yan, CFA, FRM

A-Share Margin Trading Weekly (May 8th): PING AN INSURANCE, Wuliangye, Kingsoft Office Software

We analyzed A-share margin trading positions report for the past week and highlighted PING AN INSURANCE, Wuliangye, Kingsoft Office Software, AECC...

Ke Yan, CFA, FRM

Aequitas: VeriSilicon Microelectronics A/H Listing - Growth Picking up but at the Cost of Margins

Verisilicon Microelectronics (688521 CH) (VM), which offers custom silicon solution and semiconductor IP licensing services, aims to raise around...

Sumeet Singh

Aequitas: Unimicron Technology GDR Early Look-Small Deal to Digest; Backed by Strong Recent Momentum

Unimicron Technology is looking to raise around US$2.6bn in its upcoming GDR offering. On 10th Apr 2026, UT announced its board’s resolution to...

Akshat Shah