| 【Company Research】GigaCloud (GCT US) – Data-driven B2B pioneer on large parcel logistics |
| 【Company Research】Sunny Optical (2382 HK) – Positive on shipment recovery and upgrade trend; Maintain Hold on fair valuation |
| 【Company Research】JD.com (JD US) – Business adjustment impact likely taking time to be digested |
| 【Company Research】Anta Sports (2020 HK) – Earnings cut and de-rating may end here |
| 【公司研究】迈瑞医疗 (300760 CH) – 25省IVD试剂集采规则延续性强，促进国产替代 |
| 【Company Research】Alibaba (BABA US) – Driving for group improvement |
| 【Company Research】CTGDF (601888 CH) – 3Q prelim rev/np +28%/93%; estimates unchanged |
| 【Company Research】ZTE (000063 CH) – A defensive play with long runway for growth |
| 【Company Research】Tongcheng Travel (780 HK) – Share gain continued in Golden Week |
| 【Sector Research】China Auto Sector – Sep leading indicators: Tesla new orders fell |
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