| 【Company Research】Binjiang Service (3316 HK) - FY25: Showing strength in tough times |
| 【Company Research】Weichai Power (2338 HK/000338 CH) - 2025 earnings below expectations, but structural transition story still intact |
| 【Company Research】BaTeLab (2149 HK) - Building through transition; Maintain BUY |
| 【公司研究】南微医学 (688029 CH) - 国际化渠道深耕与可视化新曲线共振 |
| 【Company Research】Hesai Group (HSAI US) - Solid core business growth outlook; pursuing expansion opportunities beyond LiDAR market |
| 【Company Research】WuXi Biologics (2269 HK) - Resilient demand amid macro uncertainties |
| 【Company Research】PDD Holdings (PDD US) - Earnings recovery in sight despite ongoing investment phase |
| 【Company Research】Nongfu Spring (9633 HK) - FY25: Strong tea & juice biz; facing challenges to maintain high growth |
| 【Company Research】CSPC Pharmaceutical (1093 HK) - BD becoming sustainable revenue engine |
| 【Company Research】Kuaishou (1024 HK) - Solid AI monetization progress; increasing AI investment may impact ST margin |