| 【Sector Research】Semiconductors - Thematic investing and megatrends: Alibaba’s bold capex hike a boost to domestic AI infrastructure suppliers |
| 【Company Research】NetEase Cloud Music (9899 HK) - Enhanced user experience, monetization and profitability |
| 【Company Research】Luckin Coffee (LKNCY US) - Turning around in styles after the strong beat |
| 【Company Research】Willsemi (603501 CH) - True beneficiary of accelerating domestic AI innovation & autonomous driving penetration |
| 【Company Research】Alibaba (BABA US) - Solid cloud rev growth with improved earnings growth outlook for e-commerce business |
| 【Company Research】Bilibili (BILI US) - 4Q24 earnings beat on strong mobile games and ad businesses |
| 【Company Research】Yancoal Australia (3668 HK) - Dividend resumed with 56% pay-out ratio |
| 【Company Research】NetEase (NTES US) - Steady 4Q24 performance; new game titles to support FY25 revenue growth |
| 【Company Research】Xiaomi (1810 HK) - 4Q24 Preview: Expect another strong beat; Raise TP to HK$54.53 |
| 【Company Research】iQIYI (IQ US) - Inline 4Q24 results; increase quality content supply to revitalize business growth |
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