| 【Sector Research】Materials – Aluminium price to be fuelled by tight supply throughout 2026 |
| 【Company Research】Chuangxin Industries (2788 HK) - Capacity growth in Saudi Arabia + superb cost advantage on low green energy cost in China |
| 【Company Research】China Hongqiao (1378 HK) - Raising earnings and TP on higher aluminium price |
| 【Sector Research】China Insurance - Dec Life and P&C premiums marginally improved |
| 【Sector Research】Capital Goods - HDT sales +39% YoY in Jan on low base |
| 【Company Research】Minth Group (425 HK) - Solid growth outlook from battery housing, robotics and AIDC |
| 【Company Research】CSPC Pharmaceutical (1093 HK) - Landmark BD deal to drive long-term growth |
| 【公司研究】加科思 (1167 HK) - 引领全球KRAS研发浪潮，开拓新型载荷ADC |
| 【Company Research】Thermo Fisher (TMO US) - 4Q25 results: Capitalizing on the growing pharmaceutical demand |
| 【Sector Research】Technology - Apple FY1Q26 and guidance beat; Positive on strong iPhone cycle and Google AI despite memory headwinds |
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