| 【Company Research】WuXi Biologics (2269 HK) - Promising demand boding well for 2025 |
| 【Company Research】iQIYI (IQ US) - Membership and ad businesses remain under pressure; eye on short-drama development |
| 【Company Research】Dmall Inc (2586 HK) - End-to-end retail digitalization enabler |
| 【Sector Research】Capital Goods - Export volume growth across all machines in Dec |
| 【Company Research】Baidu (BIDU US) - Solid cloud revenue growth a bright spot in the stage of business adjustment |
| 【Company Research】Q-Tech (1478 HK) - Beneficiary of China smartphone subsidies; Raise TP to HK$6.79 |
| 【Company Research】BeiGene (ONC US) - Inflection point arrives: operating breakeven in 2025E |
| 【Sector Research】Technology - 4Q24 global smartphone shipments ahead; Xiaomi/Vivo outperformed Apple/Samsung |
| 【公司研究】巨子生物 (2367 HK) - 线上2024年线上增速靓丽，上调业绩指引 |
| 【Company Research】Xtep (1368 HK) - A beat in 4Q24 with a constructive outlook |
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