| 【公司研究】巨子生物 (2367 HK) - 首款注射类医美产品获批，开启公司第二成长曲线 |
| 【Company Research】Thermo Fisher (TMO US) - Strong 3Q25 performance; raising full-year guidance |
| 【Company Research】Innovent Biologics (1801 HK) - Strategic partnership with Takeda to develop global R&D and commercial capability |
| 【Company Research】Meituan (3690 HK) - Competition remains fierce while investment impact likely peaked out |
| 【Company Research】Yancoal Australia (3668 HK) - Production volume in 3Q25 affected by unfavourable weather |
| 【Sector Research】Capital Goods - Recovery of non-earth moving machinery sales in Sep suggests early sign of upcycle |
| 【行业研究】软件 & IT服务 - 关注产业链协同发展布局的投资机会 |
| 【Company Research】iQIYI (IQ US) - 3Q25 preview: increasing investment in quality content |
| 【Company Research】Futu Holdings (FUTU US) - Pioneered one-stop financial services platform to ride on crypto advancements; Initiate BUY |
| 【Company Research】Baidu (BIDU US) - 3Q25 preview: expecting inline results and more updates from new businesses |
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