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.

Thematic (Sector/Industry)

<ul>
<li>We tracked AI models, infrastructure and M&amp;A this week, led by Kimi K3, Grok 4.5 and new financing plans from DeepSeek.</li>
<li>China approved Apple Intelligence, while Zhipu expanded sales and Tencent released smaller Hunyuan Hy3 variants.</li>
<li>Anthropic prepared for an IPO, TSMC raised capital spending, and Databricks, Helsing and Fireworks AI announced new funding.</li>
</ul>


We tracked AI models, infrastructure and M&amp;A this week, led by Kimi K3, Grok 4.5 and new financing plans from DeepSeek.
China approved Apple Intelligence, while Zhipu expanded sales and Tencent released smaller Hunyuan Hy3 variants.
Anthropic prepared for an IPO, TSMC raised capital spending, and Databricks, Helsing and Fireworks AI announced new funding.


This Week in AI (Jul 12-18): Grok 4.5 and Kimi K3; Zhipu Hits $1bn ARR as Anthropic Readies IPO

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>CPI came in soft as expected, but rate hike expectations are mixed due to the ongoing conflict</li>
<li>Hong Kong and China platform names are getting a bid as money rotates out of the "hot" markets</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
CPI came in soft as expected, but rate hike expectations are mixed due to the ongoing conflict
Hong Kong and China platform names are getting a bid as money rotates out of the "hot" markets


Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

<ul>
<li>CXMT Corp is launching an IPO of 6.69 to 7.69 billion shares to raise up to 66.6 billion yuan to expand its DRAM production.</li>
<li>As the world’s fourth-largest producer of DRAM, CXMT has emerged as Beijing’s primary opportunity to reduce reliance on foreign suppliers.</li>
<li>CXMT is rapidly expanding capacity, with output projected to double by 2030.  Concurrently, the company is striving to control all four stages of chip production: design, manufacturing, testing, and packaging. </li>
</ul>


CXMT Corp is launching an IPO of 6.69 to 7.69 billion shares to raise up to 66.6 billion yuan to expand its DRAM production.
As the world’s fourth-largest producer of DRAM, CXMT has emerged as Beijing’s primary opportunity to reduce reliance on foreign suppliers.
CXMT is rapidly expanding capacity, with output projected to double by 2030.  Concurrently, the company is striving to control all four stages of chip production: design, manufacturing, testing, and packaging. 


IPO WATCH China Semiconductors: CXMT - Gaining in the DRAM Battlefield

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

<ul><li>World Cup Tests Trump’s Economic Pitch The 2026 FIFA World Cup, staged across the U.S., Canada and Mexico, coincides with America’s 250th anniversary and arrives two years before the 2028 Olympics in Los Angeles.</li><li>For the Trump administration, the sequence of marquee events has become a central part of the political legacy it hopes to build in a second presidential term.</li><li>The U.S. was eliminated July 6 after a 4-1 loss to Belgium in the round of 16.</li></ul>

World Cup Tests Trump’s Economic Pitch The 2026 FIFA World Cup, staged across the U.S., Canada and Mexico, coincides with America’s 250th anniversary and arrives two years before the 2028 Olympics in Los Angeles.For the Trump administration, the sequence of marquee events has become a central part of the political legacy it hopes to build in a second presidential term.The U.S. was eliminated July 6 after a 4-1 loss to Belgium in the round of 16.

CX Daily: World Cup Tests Trump’s Economic Pitch 

<ul><li>China Tech Giants Battle to Build the Ultimate AI Concierge WeChat’s long-awaited artificial intelligence (AI) agent has arrived with little fanfare but sweeping implications for China’s consumer internet.</li><li>In late June, select users of Tencent Holdings Ltd.’s dominant messaging and services app noticed two green dots in the upper-left corner of their screens.</li><li>Tapping them opened an AI chat window dubbed “Xiaowei,” or “Little WeChat.”</li></ul>

China Tech Giants Battle to Build the Ultimate AI Concierge WeChat’s long-awaited artificial intelligence (AI) agent has arrived with little fanfare but sweeping implications for China’s consumer internet.In late June, select users of Tencent Holdings Ltd.’s dominant messaging and services app noticed two green dots in the upper-left corner of their screens.Tapping them opened an AI chat window dubbed “Xiaowei,” or “Little WeChat.”

CX Daily: China Tech Giants Battle to Build the Ultimate AI Concierge 

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent Holdings (ADR) (TCEHY US)

This Week in AI (Jul 12-18): Grok 4.5 and Kimi K3; Zhipu Hits $1bn ARR as Anthropic Readies IPO

This week in AI: Kimi K3 and Grok 4.5 launch; DeepSeek seeks $1.5bn; Zhipu reaches $1bn ARR as Anthropic prepares for an IPO.

Ke Yan, CFA, FRM

Overview #69 - Tug of War

A review of recent events/data impacting our investment themes and outlook. We look at the impact of soft CPI data on rate expectations & where the...

Rikki Malik

IPO WATCH China Semiconductors: CXMT - Gaining in the DRAM Battlefield

CXMT ignited a rush among retail investors as China’s memory giant opened books for an initial public offering to raise $9.8 billion, the second...

David Mudd

CX Daily: World Cup Tests Trump’s Economic Pitch

TOP STORIES Cover Story: World Cup Tests Trump’s Economic Pitch The 2026 FIFA World Cup, staged across the U. S. , Canada and Mexico, coincides...

Caixin Global

CX Daily: China Tech Giants Battle to Build the Ultimate AI Concierge

TOP STORIES In Depth: China Tech Giants Battle to Build the Ultimate AI Concierge WeChat’s long-awaited artificial intelligence (AI) agent has...

Caixin Global

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