| 【Sector Research】Semiconductors - TSMC earnings: Cautious optimism confirmed by AI profitability |
| 【Sector Research】Capital Goods - Strong sales momentum continued for truck cranes & crawler cranes in Dec 2025 |
| 【Company Research】WuXi XDC (2268 HK) - Strong earnings growth with strategic acquisition to enhance capacity |
| 【Company Research】J&T Express (1519 HK) - Share swap with SF to help expand new markets |
| 【Company Research】Q-Tech (1478 HK) - Positive FY25 profit alert; non-mobile (handheld/auto/ XR) growth to continue into 2026 |
| 【行业研究】互联网 - AI应用商业化快速落地 |
| 【Company Research】JD.com (JD US) - Facing high base, but remaining committed to shareholder return |
| 【Company Research】CR MixC Lifestyle (1209 HK) - FY25 preview: core NP growth trimmed to low teens |
| 【行业研究】中国医药 - 出海仍是主旋律 |
| 【Sector Research】Technology - CES 2026 keynotes: next-gen Rubin/MI400 platform on track and AI PC penetration to expand |
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