5 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 Global Metals & Mining 19 December 2024 Citi Research of Citi Research management not to assign a target price and, thus, not derive an ETR. Citi Research may suspend its rating and target price and assign "Rating Suspended" status for regulatory and/or internal policy reasons. Citi Research may also suspend its rating and target price and assign "Under Review" status for other exceptional circumstances (e.g. lack of information critical to the analyst's thesis, trading suspen ...

shuinu9870 更多一手调研纪要和研报数据加V： shuinu9870 continue to deliver solid growth with channel penetration increase, while seeing less 2025. 4) By consumption scenario, company is developing the banquets market shuinu9870 更多一手调研纪要和研报数据加V： 19 December 2024 | 4:00PM HKT (Rmb1.5bn in 2024, 20% yoy sales growth in 1H24 and slowdown in 3Q24); T68 to negative impact from shipment control of customized non-standard products in shuinu9870 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： The following are additional required disclosures: Ow ...

First Read: China Property 19 December 2024 ab 12 shuinu9870 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 shuinu9870 First Read: China Property 19 December 2024 ab 13 Unless otherwise indicated, please refer to the Valuation and Risk sections within the body of this report. For a complete set of disclosure statements associated with the companies discussed in this report, including information on valuation and risk, please contact UBS Securities LLC, 1285 Avenue of Americas, New York, NY 10019, USA, Attention: Investment R ...

更多一手调研纪要和研报数据加V： Charting the course: preliminary 2025 outlook and November review of pricing and volume trends shuinu9870 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------- ...

China Chemical New Materials 19 December 2024 ab 9 shuinu9870 更多一手调研纪要和研报数据加V： shuinu9870 更多一手调研纪要和研报数据加V： Founded in 2000, Tinci Materials (Tinci) is the largest electrolyte and LiPF6 producer globally by capacity. The company features a highly integrated electrolyte material value chain and good economies of scale, strengthening its cost competitiveness compared to its peers. Tinci is also a major electrolyte supplier to Contemporary Amperex Technology and is also planning to expand its production capacit ...

16 December 2024 Equity Research Report Chinese Media (600373 CH) Equities Media Downgrade to Reduce: Revenue under pressure ◆ Revenue from textbooks and supplementary teaching materials is under pressure due to policy change DOWNGRADE TO REDUCE | --- | --- | --- | --- | --- | |--------------------------------|----------|----------|----------|----------| | Financial statements Year to | 12/2023a | 12/2024e | 12/2025e | 12/2026e | | Profit & loss summary (CNYm) | | | | | | Revenue | 10,084 | 8,574 | 7,676 | ...

May-18 May-19 May-20 May-21 May-22 May-23 May-24 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 60 110 160 210 260 310 360 410 460 Stock Connect holdings ($bn) Stock Connect holdings (% of Hong Kong total market cap, RHS) Stock Connect holdings (% of HSCI free float market cap, RHS) Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 0 50 100 150 200 250 300 350 ...

Product must take into account existing public information on such security or any registered prospectus. Although information has been obtained from and is based upon sources that the Firm believes to be reliable, we do not guarantee its accuracy and it may be incomplete and condensed. Note, however, that the Firm has taken all reasonable steps to determine the accuracy and completeness of the disclosures made in the Important Disclosures section of the Product. The Firm's research department has received ...

Source: CEIC, National Bureau of Statistics, Morgan Stanley Research China's retail sales growth in November slowed down to +3.0% YoY, vs 4.8% in October, below expectations (vs. consensus at +4.6%), partly due to the front-loading effect of 11.11 promotion into Oct sales. Implied recovery pace vs. 2019 lowered to 115%, vs. 119% in October. Exhibit 1: Summary of Retail Sales Trend Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be ...

The property sector remained the weak link in the economy. On the one hand, property sales reversed to pick up, by 3.2% y/y versus a decline of 1.6% in October, the first increase since May 2023. On a sequential basis, declines in both the new- (November: -0.2%, October: -0.5%) and second-home (November: -0.3%, October: -0.5%) prices eased for a second month. The NBS said 58 out of the 70 major cities it monitors reported declines in secondary home prices in the month, which improved slightly from 59 in Oct ...