| 【Company Research】Innovent Biologics (1801 HK) - IBI363 advancing towards global development |
| 【Company Research】Li Auto Inc. (LI US/2015 HK) - More aggressive pricing, shorter model cycle to regain sales traction |
| 【Company Research】SenseTime (20 HK) - 1H25 review: strong Gen AI revenue momentum with improving margin |
| CMBI Fixed Income - CNMDHL: A yield pick-up play over CHMEDA |
| 【Company Research】Sinotruk (Hong Kong) (3808 HK) - 1H25 profit in-line with our below-consensus forecast; Stable growth for full year largely priced in |
| 【Company Research】Minth Group (425 HK) - Well on track; new businesses as a call option |
| 【Company Research】Akeso (9926 HK) - Key data readouts for AK112 to validate global potential |
| 【Company Research】Haidilao (6862 HK) - Downside protected and more reforms start |
| 【Company Research】Anta Sports (2020 HK) - Softer Anta and stronger others, as expected |
| 【Company Research】Intron Tech (1760 HK) - 1H25 GPM pressure remained; Trim TP to HK$2.11 |
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