Flash | 12 Jan 2025 15:34:03 ET │ 10 pages TCL Technology Corp (000100.SZ) What's New from Citi China Tech and Telecom Day – 10bn a Conservative Guidance; Tightness Likely in 2026 CITI'S TAKE TCL Tech joined Citi China Tech and Telecom Day on 10 Jan. Key takeaways include: (1) Co. revises up CSOT 2024 net profits to c. Rmb6bn and believes Rmb8-10bn 2025 NP guidance is conservative. (2) D&A will go up by Rmb1-2bn in 2025 , but will start to decrease from 2026 with pace of Rmb2bn every year. (3) Channel inven ...

January 12, 2025 10:57 PM GMT China Musings | Asia Pacific Policy Undershoot Unless Social Dynamics Evolve -1.2 -1.0 -0.8 -0.6 -0.4 -0.2 0.0 0.2 0.4 0.6 0.8 1.0 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Jun-24 Dec-24 China Social Dynamics Indicator (Z-score) 4th year into PPI deflation - Policy: shantytown renovation Covid lockdown - Policy: abandons Covid-zero Source: CEIC, Morgan Stanley Research For important discl ...

12 Jan 2025 15:22:58 ET │ 13 pages China Internet 2025 China Bus Tour Takeaways CITI'S TAKE We hosted an Internet bus tour in China on Jan 7th -10th and met with several internet companies including Alibaba Group, Autohome, Bilibili, JD.com, Kanzhun, Kuaishou, Trip.com and discussed ecommerce and local services landscape with industry speakers. Most discussed topics included trade-in program and its impact to various ecommerce players; implication to user traffic, ad spend and cross-sell on other categories ...

January 12, 2025 07:25 AM GMT January 12, 2025 08:35 AM GMT January 12, 2025 09:24 AM GMT | M | | | | --- | --- | --- | | | | Update | | January 12, 2025 07:25 AM GMT January 12, 2025 08:35 AM GMT January 12, 2025 09:24 AM GMT | | | | Haitian International Holdings Limited | Asia Pacific | Morgan Stanley Asia Limited+ | | | | Sheng Zhong Equity Analyst | | | China BEST Conference | Sheng.Zhong@morganstanley.com | +852 2239-7821 | | | Chelsea Wang | | | | Equity Analyst Jinlin.Wang@morganstanley.com | +852 2 ...

January 10, 2025 01:27 PM GMT Trip.com Group Ltd | Asia Pacific China BEST Conference Takeaways 4Q24 operations were well on track; 2025 revenue growth in the teens looks intact with stable domestic hotel ADR, further outbound recovery and market share gain, and rising contribution from Trip.com. Shareholder return is likely to step up as well. 4Q24 operation was on track and management is confident about teens revenue growth in 2025. Domestic: Hotel ADR for the company was flat YoY in 4Q, (better than the ...

10 January 2025 | 3:50PM CST China Solar: Corporate day takeaways: Steady global demand growth and potential for US module price hike We hosted four cell and module companies (JA Solar, Jinko Solar A, Trina Solar, CSI Solar A, all non-covered) at our China Solar Series on Jan 7 and 9. Key takeaways include: 1) 10%-15% yoy global solar installation demand growth guided into 2025E; 2) high possibility of module price hike in the US market; 3) more regulation needed to curb below-cost module price bidding in d ...

10 January 2025 | 6:25PM GMT EM Weekly Fund Flows Monitor Foreign selling led by India wow; Strong SB buying led by Tencent; India domestic flows remained robust in Dec; HF exposure stays at 5yr low in China Foreign (FII) flows / positioning HK/China Connect, Domestic retail flows Global Equity mutual fund flows Focus: CN Flows/positioning; IN domestic flows Sunil Koul +44(20)7051-4931 | sunil.koul@gs.com Goldman Sachs International Mark Hung +852-3465-4266 | mark.hung@gs.com Goldman Sachs (Asia) L.L.C. Tim ...

ab 10 January 2025 Powered by YES UBS Evidence Lab Global Research China Internet Sector Online entertainment and education 2025 outlook quantamental scorecard update Positioning for bottom-up comeback potential We revisit our quantamental scorecard (Figure 1) since our initial launch in October 2024 (see our APAC Focus report). Since our initial version, overall consumption has weakened, as shown in soft November data (link), and UBS China's economics team predicts a slow down in overall consumption for 20 ...

January 10, 2025 04:36 PM GMT China Materials | Asia Pacific Demand Tracker – January 10 The Ministry of Finance emphasized budget deficit rate increase and abundant fiscal policy tools in 2025. Production/sales of industrial goods: Lee & Man Paper's 4 major bases will suspend and reduce production by ~270kt during Chinese New Year. According to CISA, the crude steel output of key steel enterprises was 1.872mnt in late December, -5.3% vs. mid-December. In Dec 2024, global new ship orders are 194 CGT, down 5 ...