| 【Company Research】Dmall Inc (2586 HK) - 1H26 review: Accelerating AI transformation |
| 【Company Research】Coherent (COHR US) - 4Q earnings beat; optical demand stays robust w/ capacity playing catch-up |
| 【Sector Research】 Materials - Aluminium - Upside risk to our supply forecast following the resumption of EGA production |
| 【Company Research】AIA Group Ltd. (1299 HK) - 1H26 preview: 2Q VONB moderate while OPAT on track; 3Q high base looms in AIA HK/China |
| 【Company Research】China Tower (788 HK) - 1H26 results: D&A roll-off drove earnings amid revenue decline; Maintain HOLD |
| 【Company Research】Tencent (700 HK) - Solid 2Q26 results; gradually capturing AI benefits in the long run |
| 【Company Research】Kingdee (268 HK) - AI-native revenue ramping up |
| 【Company Research】Lumentum (LITE US) - Q4 earnings beat; optical momentum continues across multiple architectures |
| 【Company Initiation】Laifual Drive (3952 HK) - A cost-driven disruptor in harmonic reducer market to ride humanoid robotics wave |
| 【Company Research】TME (TME US) - 2Q26 results: Navigating competition headwinds |
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