| 【Company Research】Jiangsu Hengli (601100 CH) - 3Q25 earnings growth accelerated to 31% YoY |
| 【Company Research】Xiaomi (1810 HK) - 3Q25 preview: expect another strong quarter on better EV business offsetting softer smartphone/IoT |
| 【Company Research】Topsports (6110 HK) - Guidance kept; prioritizing profit over sales |
| 【Company Research】Great Wall Motor (2333 HK/601633 CH) - Stronger FY26 sales outlook despite 3Q GPM miss |
| 【行业研究】中国医药 - 关注已授权药物的研发推进 |
| 【Company Research】Weibo (WB US) - 3Q25 preview: ad business under pressure amid headwinds in certain verticals |
| 【公司研究】巨子生物 (2367 HK) - 首款注射类医美产品获批，开启公司第二成长曲线 |
| 【Company Research】Thermo Fisher (TMO US) - Strong 3Q25 performance; raising full-year guidance |
| 【Company Research】Innovent Biologics (1801 HK) - Strategic partnership with Takeda to develop global R&D and commercial capability |
| 【Company Research】Meituan (3690 HK) - Competition remains fierce while investment impact likely peaked out |
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