| 【Company Research】Tencent (700 HK) – 3Q23 earnings beat on strong operating leverage and business innovation |
| 【行业研究】GLP-1产业链蕴藏巨大潜力– 解析全球研发趋势，把握产业链投资机遇 |
| 【Sector Research】China Heavy Duty Truck – Natural gas HDT +14.8x YoY in Oct on low base; Expect momentum to continue; Weichai our top pick |
| 【Company Research】Huya Inc. (HUYA US) – Looking at game monetization and better margin |
| 【Company Research】PDD Holdings (PDD US) – Rapid overseas business expansion |
| 【Company Research】TME (TME US) – Inline 3Q23 results; strong music subscription revenue growth |
| 【Sector Research】China Construction Machinery – Assessing the impact of the European Commission’s anti-dumping investigation against China-made AWP |
| 【Company Research】Xtep (1368 HK) – Guidance cut after a weak Double 11 festival |
| 【Company Research】Samsonite (1910 HK) – 3Q Rev/NP +21%/94%; low-teen growth for 2024E |
| 【Sector Research】Technology (Hardware/Semi): Will Humane’s AI-powered screenless device become the successor to smartphones? |
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