| 【Sector Research】Capital Goods - A good start for earth-moving machinery sales in Jan |
| 【Sector Research】Auto - Leap, BYD, Aion led discount increase in Jan |
| 【Sector Research】Technology - Intelligence driving: Implications of BYD’s “vehicle intelligence strategy” event |
| 【Sector Research】Consumer Discretionary - So far so good, but stay cautiously optimistic |
| 【行业研究】中国医药 - 开启估值修复 |
| 【Company Research】Yum China (YUMC US) - Constructive FY25E outlook and guidance |
| 【Company Research】Amazon (AMZN US) - Robust earnings growth, pace of margin expansion likely to slow in 2025 |
| 【Company Research】Yum China (9987 HK) - Constructive FY25E outlook and guidance |
| 【Company Research】Thermo Fisher (TMO US) - A promising year ahead |
| 【Company Research】Alphabet (GOOG US) - Increase AI investment to unlock growth opportunities in FY25 |
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