| 【Company Research】Chuangxin Industries (2788 HK) - 2025 profit +33% YoY; surprising dividend |
| 【Company Research】TME (TME US) - 4Q25 review: Stepping up investment to drive long-term sustainable growth |
| 【Sector Research】China Insurance - Sunshine Insurance FY25: Strong NBV momentum; One-off tax gain lifted net profit |
| 【行业研究】汽车 - 氢能新政：重卡高功率与低氢价驱动“自我造血” |
| 【Company Research】Leapmotor (9863 HK) - Eyes on new models, especially D19 |
| 【Company Research】Ke Holdings (BEKE US) - Profitability improvement on track |
| 【Company Research】Q-Tech (1478 HK) - FY25 in-line; Positive outlook on CCM share gain and drone/auto/XR momentum |
| 【行业研究】中国医药 - 政策定调升级， AI与出海双轮驱动 |
| 【Company Research】Futu Holdings (FUTU US) - 4Q robust growth in-line; geographic diversification saw sequential improvement |
| 【Company Research】Shennan Circuit (002916 CH) - AI-led PCB growth with substrate upside ahead |
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