| CMBI Fixed Income - FUTLAN/FTLNHDs: An outperformer in a challenging operating environment |
| 【Company Research】3SBio (1530 HK) - Short-term pressure on product sales; ASCO 2026 in focus |
| 【Company Research】Yongda Automobiles (3669 HK) - Recover gradually |
| 【Company Research】Sunny Optical (2382 HK) - 2026 guidance better-than-feared; high-end SP/auto/IoT to drive earnings growth |
| 【Company Research】Pharmaron Beijing (300759 CH) - Landmark CDMO deal to fuel future growth |
| 【Company Research】Innolight (300308 CH) - Stronger into 2026 on 1.6T ramp and SiPh mix |
| 【Company Research】OmniVision (603501 CH) - Higher-value CIS mix expansion supports margin resilience |
| 【Company Research】InnoScience (2577 HK) - GaN-ning momentum one step at a time |
| 【Company Research】Angelalign (6699 HK) - Earnings beat with strong overseas momentum |
| 【Company Research】PICC P&C (2328 HK) - Non-auto CoR sees headroom for improvement |