| 【Company Research】Xiaomi (1810 HK) - 1Q25 Preview: Expect strong results ahead; regained No.1 in China amid Apple weakness |
| 【Company Research】Microsoft (MSFT US) - Cloud revenue growth reaccelerated |
| 【Company Research】Willsemi (603501 CH) - Solid 1Q25 earnings driven by robust auto momentum; Maintain BUY |
| 【Company Research】Meta (META US) - 1Q25 results beat; raising capex guidance to support core business and AI development |
| 【Company Research】WuXi AppTec (603259 CH) - To navigate macro uncertainties with a good start in 1Q25 |
| 【Sector Research】Capital Goods - 1Q25 earnings: SANY Heavy beat; Zoomlion & Weichai slightly below expectation |
| 【Company Research】Mindray (300760 CH) - Awaiting domestic demand rebound |
| 【Company Research】Luckin Coffee (LKNCY US) - Management is prudent but long-term story intact |
| 【Company Research】United Imaging (688271 CH) - 1Q25 earnings turnaround: strong overseas growth and domestic market recovery |
| 【Company Research】Jiangsu Hengli (601100 CH) - Higher expenses are transitory; eyes on new products |
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