| 【Company Research】Meidong Auto (1268 HK) - High inventory turnover strategy still working now |
| 【Company Research】BYDE (285 HK) - 4Q24 earnings dragged by one-off expenses; auto/AI/Apple ramp to drive growth in 2025 |
| 【Company Research】Zoomlion (1157 HK/000157 CH) - 2024 results below expectation; Still positive on the structural overseas growth trend |
| 【Company Research】China Taiping (966 HK) - FY24 NBV outshined; resume coverage with BUY |
| 【Company Research】Jinmao Property Services (816 HK) - Earnings hurt by industry cycle; Parentco’s revival offers revaluation chance; Maintain BUY |
| 【Company Research】Kelun-Biotech (6990 HK) - Advancing next-generation ADC therapeutics: innovative strategy in oncology and beyond |
| 【Company Research】Sunny Optical (2382 HK) - 2H24 earnings recovery on track; Multiple growth drivers from auto/XR/robotics in 2025 |
| 【Company Research】Kuaishou (1024 HK) - Accelerating AI development to drive long-term growth |
| 【Company Research】Minth Group (425 HK) - Solid revenue and profit growth could continue |
| 【Company Research】BYDE (285 HK) - 2H24 first take: NP miss on weak GPM; Positive on auto/AI server/Apple in 2025 |
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