| 【Company Research】Intron Tech (1760 HK) - 2024 revenue in-line; Expect solid demand and resilient margin in FY25-26E |
| 【Company Research】Maxscend (300782 CH) - LT prospects intact; Maintain HOLD on continued margin pressure |
| 【Company Research】CPIC (2601 HK) - Life OPAT beat, driving DPS to rise faster than Group OPAT |
| 【Company Research】PICC P&C (2328 HK) - Optimized CoR guidance beat expectations |
| 【Company Research】Jiumaojiu (9922 HK) - A better reform plan but more time is needed |
| 【Company Research】Tongda (698 HK) - Android demand and smart-tech to drive earnings recovery; maintain BUY |
| 【Company Research】CSPC Pharmaceutical (1093 HK) - Resilient BD momentum offsets sales pressure |
| 【Company Research】Li Ning (2331 HK) - Conservative guidance but quite expected |
| 【Company Research】Samsonite (1910 HK) - Weak FY24 dragged by TUMI and American Tourister, 1Q25 sales to decline LSD-MSD |
| 【Company Research】InnoCare Pharma (9969 HK) - Orelabrutinib-led growth with strategic pipeline advancements in oncology and autoimmune |
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