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 STAR50 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 SANY RENEWABLE ENERGY, NATIONAL SILICON INDUSTRY, MGI TECH, YUANJIE SEMI, MOORE THREADS TECHNOLOGY, CAMBRICON, Xinjiang Daqo, ADVANCED MICRO-FABRICATION EQUIPMENT INC. CHINA.</li>
</ul>


We analysed the earning revision of component stocks of STAR50 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 SANY RENEWABLE ENERGY, NATIONAL SILICON INDUSTRY, MGI TECH, YUANJIE SEMI, MOORE THREADS TECHNOLOGY, CAMBRICON, Xinjiang Daqo, ADVANCED MICRO-FABRICATION EQUIPMENT INC. CHINA.


STAR50 Index Earning Revision (Jun): SANY RENEWABLE ENERGY, NATIONAL SILICON INDUSTRY, MGI TECH

<ul>
<li>We analyzed the changes in margin trading positions of A-share stocks as of Jun 18th. The aggregated net margin trading position is USD391,810m.</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 GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE, FUJIAN TORCH ELECTRON TECHNOLOGY, LEADER HARMONIOUS DRIVE SYSTEMS.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of Jun 18th. The aggregated net margin trading position is USD391,810m.
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 GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE, FUJIAN TORCH ELECTRON TECHNOLOGY, LEADER HARMONIOUS DRIVE SYSTEMS.


A-Share Margin Trading Weekly (Jun 18th): GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE

Index Rebalance

<ul>
<li>CSI announced four ADDs and four DELETEs for STAR50, effective 15 Jun 2026. Bridge-window data is complete through 12 Jun 2026.</li>
<li>Yuanjie Semi led the ADD bridge gains, while Hua Hong Semiconductor reversed its pre-announcement gains. SICC had the weakest bridge performance among the DELETEs.</li>
<li>Historically, positive-bridge ADDs averaged weaker first-week returns. Negative-bridge DELETEs showed the most consistent first-week losses.</li>
</ul>


CSI announced four ADDs and four DELETEs for STAR50, effective 15 Jun 2026. Bridge-window data is complete through 12 Jun 2026.
Yuanjie Semi led the ADD bridge gains, while Hua Hong Semiconductor reversed its pre-announcement gains. SICC had the weakest bridge performance among the DELETEs.
Historically, positive-bridge ADDs averaged weaker first-week returns. Negative-bridge DELETEs showed the most consistent first-week losses.


STAR50 Jun 2026 Index Rebalance: Pre-Implementation Update

<ul>
<li>We analyzed the changes in margin trading positions of A-share stocks as of Jun 12th. The aggregated net margin trading position is USD391,810m.</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 GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE, FUJIAN TORCH ELECTRON TECHNOLOGY, LEADER HARMONIOUS DRIVE SYSTEMS.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of Jun 12th. The aggregated net margin trading position is USD391,810m.
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 GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE, FUJIAN TORCH ELECTRON TECHNOLOGY, LEADER HARMONIOUS DRIVE SYSTEMS.


A-Share Margin Trading Weekly (Jun 12th): GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE

<ul>
<li>CSI announced four ADDs and four DELETEs for the STAR50 Jun 2026 review, effective 15 Jun 2026.</li>
<li>Our forecast hit one ADD and three DELETEs. We reviewed our HITs and MISSes.</li>
<li>The ADD miss came from one near-zone name and two fast-entry AI-chip names; stock-level positioning now drives whether to chase or fade.</li>
</ul>


CSI announced four ADDs and four DELETEs for the STAR50 Jun 2026 review, effective 15 Jun 2026.
Our forecast hit one ADD and three DELETEs. We reviewed our HITs and MISSes.
The ADD miss came from one near-zone name and two fast-entry AI-chip names; stock-level positioning now drives whether to chase or fade.


STAR50 Jun 2026 Index Rebalance: Post-Announcement Positioning

China

Yuanjie Semiconductor Technology Co., Ltd. manufactures and distributes semiconductor devices. The Company produces laser chips, automation chips, and other products. Yuanjie Semiconductor Technology also operates import and export businesses.

Yuanjie Semiconductor Technology (688498 CH)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Dividend (Yield)	0.00

Yuanjie Semiconductor Technology (688498 CH)

STAR50 Index Earning Revision (Jun): SANY RENEWABLE ENERGY, NATIONAL SILICON INDUSTRY, MGI TECH

We analyzed STAR50's consensus for Jun 2026 and highlighted changes of EPS in SANY RENEWABLE ENERGY (688349 CH), NATIONAL SILICON INDUSTRY (688126...

Ke Yan, CFA, FRM

STAR50 Jun 2026 Index Rebalance: Pre-Implementation Update

STAR50 enters implementation on 15 Jun 2026. We update post-announcement stock performance and discuss implementation trades.

Ke Yan, CFA, FRM

STAR50 Jun 2026 Index Rebalance: Post-Announcement Positioning

STAR50 Jun 2026 post-announcement trading is live. We review individual-stock positioning across ADDs and DELETEs. The opening gap should guide...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

STAR50 Index Earning Revision (Jun): SANY RENEWABLE ENERGY, NATIONAL SILICON INDUSTRY, MGI TECH

We analyzed STAR50's consensus for Jun 2026 and highlighted changes of EPS in SANY RENEWABLE ENERGY (688349 CH), NATIONAL SILICON INDUSTRY (688126...

Ke Yan, CFA, FRM

A-Share Margin Trading Weekly (Jun 18th): GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE

We analyzed A-share margin trading positions report for the past week and highlighted GUOTAI HAITONG SECURITIES (601211 CH), EAST MONEY INFORMATION...

Ke Yan, CFA, FRM

STAR50 Jun 2026 Index Rebalance: Pre-Implementation Update

STAR50 enters implementation on 15 Jun 2026. We update post-announcement stock performance and discuss implementation trades.

Ke Yan, CFA, FRM

A-Share Margin Trading Weekly (Jun 12th): GUOTAI HAITONG SECURITIES, EAST MONEY INFORMATION, BOE

We analyzed A-share margin trading positions report for the past week and highlighted GUOTAI HAITONG SECURITIES (601211 CH), EAST MONEY INFORMATION...

Ke Yan, CFA, FRM

STAR50 Jun 2026 Index Rebalance: Post-Announcement Positioning

STAR50 Jun 2026 post-announcement trading is live. We review individual-stock positioning across ADDs and DELETEs. The opening gap should guide...

Ke Yan, CFA, FRM