| 【Company Research】Maxscend (300782 CH) - Transition pains persist; wait and HOLD |
| 【Company Research】United Imaging (688271 CH) - Strong 2025 results driven by overseas expansion and domestic share gains |
| 【Company Research】Ping An (2318 HK/601318 CH) - 1Q OPAT a slight beat; positive outlook for full-year NBV and life OPAT acceleration |
| 【Company Research】Zhejiang Dingli (603338 CH) - Sustainability of growth remains to be seen |
| 【Company Research】BYD (1211 HK/002594 CH) - Overseas, R&D support 1Q26 earnings resilience |
| 【Company Research】WuXi AppTec (603259 CH) - 1Q26 results: small molecule D&M fuelling overall growth |
| 【Company Research】Micro-Tech (688029 CH) - Robust overseas momentum and domestic recovery |
| 【Sector Research】China Insurance - 1-3M26: Life growth resilient and P&C marginally recovered in March |
| 【Company Research】Jiangsu Hengli (601100 CH) - 1Q26 EBIT +34% YoY above expectation; net profit dragged by FX loss |
| 【Company Research】Great Wall Motor (2333 HK/601633 CH) - New-model sales as key after 1Q26 solid GPM |
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