| 【Company Research】Yum China (9987 HK) - A more cautious FY25E after 1Q25 sales miss |
| 【Company Research】AIA Group Ltd. (1299 HK) - Decent VONB growth across ex-China markets; buybacks to complete faster than expected |
| 【Company Research】China Life (2628 HK) - Profit beat; net asset turned to positive growth for improved asset-liability matching |
| 【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 |
Address: 45th & 46th Floor, Champion Tower, 3 Garden Road, Central, Hong Kong
Telephone: （852）3900 0888 Fax:（852）3761 8788
Copyright © 2019-2025 CMB International Capital Corporation Limited. All rights reserved.
