| 【Company Research】Ke Holdings (BEKE US) - On the right track of driving operating efficiency improvement |
| 【Company Research】EHang Holdings (EH US) - Expect growth to accelerate in 2026E following a reduction of revenue guidance this year |
| 【Company Research】Yongda Automobiles (3669 HK) - Brand portfolio, cash flow as keys to survival |
| 【Company Research】ZhongAn (6060 HK) - 1H earnings a clear beat; ZA Bank turned profit faster than expected; raise TP to HK$23 |
| 【公司研究】贝克微 (2149 HK) - 战略调整中保持高盈利能力；预计下半年表现更强劲 |
| 【Company Research】Jiangsu Hengli (601100 CH) - 2Q25 earnings growth accelerated; Staying positive on both existing and new business |
| 【Company Research】BaTeLab (2149 HK) - Maintaining high profitability amid strategic shifts; Expect stronger 2H25 |
| 【Company Research】Jiumaojiu (9922 HK) - Multiple positive signs suggest a turnaround |
| 【Company Research】Tongda (698 HK) - 1H25 earnings recovery in-line; Positive on glass fiber casing upgrade and smart tech expansion ahead |
| 【Company Research】PDD Holdings (PDD US) - Results beat on better-than-expected savings from sales and marketing spend |
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