| 【Sector Research】Materials - Tight uranium supply continues to support a multi-year upcycle; Positive on CGN Mining |
| 【Company Research】CGN Mining (1164 HK) - Further upside driven by higher uranium price |
| 【Company Research】Alibaba (BABA US) - Cloud and e-commerce development both in good shape; reiterate BUY |
| 【公司研究】药明康德 (603259 CH) - 投资者日：TIDES势头延续，早期研发初现回暖 |
| 【行业研究】中国医药 - 预期中美创新合作将持续，国内创新研发需求回暖 |
| 【Company Research】Xiaomi (1810 HK) - Product launch takeaways: Xiaomi 17’s competitive pricing; IoT upgrade and EV customization services |
| 【行业研究】互联网 - 2025云栖大会：AI投资主线叙事再次强化 |
| 【公司研究】颖通控股 (6883 HK) - 奢品香氛管理先驱，首次覆盖给予买入评级 |
| 【Company Research】Eternal Beauty (6883 HK) - Pioneer of luxury fragrance management, initiate with Buy |
| 【行业研究】互联网 - 关注中国互联网软件板块估值提升的结构性机会 |
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