| 【Company Research】Xiaomi (1810 HK) - 4Q24 strong beat; Positive on upbeat EV target and overseas AIoT upside |
| 【Company Research】Kingdee (268 HK) - AI related monetization the next key to watch |
| 【Company Research】Xpeng Inc. (XPEV US/9868 HK) - New model cycle + Overseas + AD + Robot |
| 【Company Research】TME (TME US) - 4Q24 earnings beat; driving quality growth in FY25 |
| 【Company Research】TK Group (2283 HK) - Solid FY24 with special dividend; Positive outlook on wearables/AI glasses and overseas expansion |
| 【Company Research】XtalPi (2228 HK) - Empowered by AI, unlocking broad commercial prospects |
| 【公司研究】中国铁塔 (788 HK) - 24财年业绩符合预期，维持“持有”评级 |
| 【公司研究】友邦保险 (1299 HK) - 新业务价值增长具备韧性，新一轮回购计划提升股东回报至6% |
| 【Company Research】AIA Group Ltd. (1299 HK) - Robust VONB growth in-line; new buyback of US$1.6bn implying 6% total S/H returns |
| 【Company Research】China Tower (788 HK) - 2024 results in-line with expectations; Maintain HOLD |
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