| 【Company Research】JD.com (JD US) - Driving growth in a more ambitious way |
| 【Company Research】Yuexiu Transport (1052 HK) - 2023 core profit +91% YoY but below estimates; >7% yield + potential asset injection |
| 【Sector Research】Technology - MacBook Air M3 – Apple’s entry into AI PC arena |
| 【Company Research】Kelun-Biotech (6990 HK) - A trailblazer in ADC arena |
| 【Company Research】NIO Inc. (NIO US) - Cash burn speeds up with capital injection |
| 【Sector Research】Auto - Competition is stiffer than what discounts show |
| 【Sector Research】Capital Goods - Expansion of gas/diesel price spread likely to boost natural gas HDT sales in the near term |
| 【Sector Research】Technology - AI Server and AI PC/smartphone supply chain set to continue strong momentum into 1H24E |
| 【Sector Research】Auto - Post CNY sales recovery could be mild |
| 【行业研究】中国医药 - 行业估值吸引，看好创新龙头 |
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