| 【Company Research】JNBY Design (3306 HK) - Sales trend improved but guidance is prudent |
| 【Company Research】Akeso (9926 HK) - OS data improved with longer follow-up |
| 【Sector Research】Semiconductors - Broadcom: Another beat-and-raise quarter on AI strength; AI rev growth to accelerate in FY26 |
| CMBI Fixed Income - LNGFOR: Passed through the repayment hump |
| 【Company Research】Black Sesame (2533 HK) - Robust 1H25 growth amid margin pressure; Maintain +ve long-term outlook |
| 【行业研究】中国医药 - 1H25业绩回顾：创新药保持强势，行业需求疲弱 |
| 【Company Research】Salesforce (CRM US) - Inline 2QFY26 results; intact long-term outlook for AI and data cloud |
| CMBI Fixed Income - Macau gaming: GGR continues to recover and funding access normalized |
| 【Company Research】JS Global Lifestyle (1691 HK) - Joyoung may turn around while SharkNinja’s repaid growth continues |
| 【Company Research】Leads Biolabs (9887 HK) - Developing next-generation immuno-oncology therapies |
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