| 【Company Research】Alibaba (BABA US) - Recovery of consumption business in sight with determined long-term goal for cloud |
| 【Company Research】Xiaomi (1810 HK) - Key takeaways of new-gen SU7 and new MiMo-V2 model releases |
| 【行业研究】医药 - 海外CXO/生命科学上游4Q25/2025业绩剖析：早研需求现复苏端倪，2026年业绩指引偏谨慎 |
| 【Company Research】Horizon Robotics (9660 HK) - High growth potential with unique positioning |
| 【Company Research】Kanzhun Limited (BZ US) - 4Q25 results: resilient recruitment demand; increasing shareholder return |
| 【Company Research】Geely Automobile (175 HK) - We expect more resilient margins than peers |
| 【Company Research】Kingdee (268 HK) - Committed to AI transformation |
| 【Company Research】Tencent (700 HK) - Inline 4Q25 results; increasing AI investment to solidify competitive moat |
| 【Company Research】ZTO Express (ZTO US/2057 HK) - 2026 volume growth guidance: up 10-13%; Shareholder return at least 50% of earnings |
| 【Company Research】Semiconductors - Key takeaways for OFC 2026 |
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