Minghong (明汯投资) / Jupiter Research

The name gives nothing away. Minghong runs its overseas business under the unrelated-sounding banner Jupiter Research, and the link back to the Shanghai parent only became clear publicly through U.S. SEC filings naming founder Qiu Huiming as the person in charge.

Set up in Hong Kong in March 2019 as Minghong's first move outside the mainland, the SFC-regulated arm carries the group's systematic, statistical-arbitrage and deep-learning strategies across equities, futures and options to offshore capital, and later helped support pushes into markets such as Japan and India.