| 【Company Research】Wingtech (600745 CH) - Valuation to improve on ODM business spin-off |
| 【Sector Research】Auto - Nine out of 11 NEV makers hit record-high sales |
| 【Company Research】Vesync (2148 HK) - Privatization amid trade headwinds and challenging capital market conditions |
| 【Company Research】Hesai Group (HSAI US) - Road towards scalable intelligent driving starts from here; initiate at BUY |
| 【Company Research】VSTECS (856 HK) - Leading IT distributor in Asia riding on tailwinds of AI & overseas expansion; initiate at BUY |
| 【Company Research】Hansoh Pharma (3692 HK) - Oral GLP-1 candidate accomplished transaction with MSD |
| 【Sector Research】Materials - China to secure more uranium resources in Kazakhstan |
| 【Company Research】CR Beverage (2460 HK) - A purified water pioneer evolving into integrated beverage titan |
| 【Sector Research】Capital Goods - Decent export growth across major machines in Nov; AWP stood out |
| 【行业研究】半导体 - 2025展望：AI热潮将延续 |
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