Third party expansion advances to higher-end level, maintain BUY
中国化妆品——消费领域的皇冠上的明珠；用 Buy 发起 Botanee／ Proya／ Jahwa
Impressive 1Q23 earnings; U／G to BUY; More catalysts ahead
Proxy of China’s consumption-led recovery; buying into any weakness for the next recovery wave
Positive outlook; Maintain BUY
Capital Goods: Turning cautious on export market; D/G Sinotruk to HOLD; Maintain BUY on Weichai
Positive on acquisition of Auto-Kabel Group; Reiterate BUY
Capital Goods: Who are buying/selling the sector?
The future of the customer journey: AI agents take control of the buying process
Semi: Global foundry sector stabilizing in 2024, modest recovery expected in 2025; initiate Hua Hong w/BUY
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