| 【Company Research】ZTE (763 HK) - Strong growth in second-curve businesses |
| 【Company Research】Innolight (300308 CH) - Solid 1Q25 earnings w/ strong beat on margins |
| 【Company Research】Kanzhun Limited (BZ US) - Prominent online recruitment platform with strong earnings growth outlook; initiate w/ BUY |
| 【Company Research】Zhejiang Dingli (603338 CH) - 2024 earnings way below expectations; outlook remains challenging |
| 【Company Research】SANY Heavy (600031 CH) - 2024 earnings inline; Emerging markets remain the key focus |
| 【Company Research】Xtep (1368 HK) - Inline 1Q25 results and a moderate outlook |
| 【Company Research】iQIYI (IQ US) - Increased mini-drama investment weighs on 1Q25E earnings |
| 【Company Research】InnoScience (2577 HK) - Global integrated GaN leader with significant growth potential |
| 【Company Research】Tongcheng Travel (780 HK) - Expecting inline 1Q results; solid full-year earnings growth outlook unchanged |
| 【Sector Research】Technology - Implications of Nvidia H20 export restriction for AI server/component supply chain |
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