North America Equity Research 18 November 2024 J P M O R G A N U.S. Alcoholic Beverages Feedback from 2024 Beer Insights Seminar We attended the 30th Annual Beer Insights Seminar in NYC in person today. This conference gathers several beer and adjacent alcoholic/cannabis beverage participants including brand owners including OW-rated Constellation Brands (STZ, OW-rated), Anheuser Busch (ABI, covered by Celine Pannuti), Reyes Group (Iargest Beer wholesaler and one of the largest Coca Cola bottler in the US), ...

18 November 2024 | 5:01AM GMT Peter Oppenheimer +44(20)7552-5782 | peter.oppenheimer@gs.com Goldman Sachs International Guillaume Jaisson +44(20)7552-3000 | guillaume.jaisson@gs.com Goldman Sachs International Sharon Bell +44(20)7552-1341 | sharon.bell@gs.com Goldman Sachs International Lilia Peytavin +33(1)4212-1716 | lilia.peytavin@gs.com Goldman Sachs Bank Europe SE - Paris Branch 2131d4eaf4cb4d50b1d51c8af07b64b4 The Year of the Alpha Bet Explore > n We are entering a benign part of the cycle; interest r ...

shuinu9870 shuinu9870 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： 更多一手调研纪要和研报数据加V： 本文档仅供上海信鱼私募基金管理有限公司18860455898研究使用，请勿外传 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 shuinu9870 更多一手调研纪要和研报数据加V： shuinu9870 shuinu9870 更多一手调研纪要和研报数据加V： A c t i o n | 12 Nov 2024 08:00:00 ET │ 13 pages NVIDIA Corp (NVDA.O) Preview: Expect Smaller "Beat & Raise" on Blackwell Transition shuinu9870 CITI'S TAKE 更多一手调研纪要和研报数据加V： NVDA reports Oct-Q after market close on 11/20. We model in-line Oct-Q with total/data center sales of $33B/ ...

shuinu9870 shuinu9870 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： 更多一手调研纪要和研报数据加V： 本文档仅供上海信鱼私募基金管理有限公司18860455898研究使用，请勿外传 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 shuinu9870 Buy Short-Term View: Downside, expires 04-DEC-24 Price (08 Nov 24 15:00) Rmb218.910 Target price Rmb335.700 Expected share price return 53.4% Expected dividend yield 0.5% Expected total return 53.9% Market Cap Rmb40,438M US$5,633M 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： Flash | 10 Nov 2024 18:25:19 ET │ 11 pages Beijing Roborock ( ...

6 November 2024 | 10:29PM HKT | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-----------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------|-------|-------------------------------------------------------------------|-------|------------------------------|------------------------------|-------| | | | | | | | | | | | | New Oriental Education & Technolog ...

Addressing key investor questions post 3Q results; down to Neutral as Roborock enters a transition period 5 November 2024 | 6:29PM CST Beijing Roborock Technology (688169.SS) Roborock reported below-expected 3Q24 results which were primarily dragged by revenue decline/margin contraction in Europe due to the ongoing channel shift towards direct sales to consumers/retailers (first take). Key investor questions we have received are centered around three areas: 1) Roborock's competitive positioning within the g ...

31 October 2024 | 11:33AM EDT 2131d4eaf4cb4d50b1d51c8af07b64b4 USA: Employment Cost Index Below Expectations in Q3; Core PCE in Line With Expectations; Initial Claims Fall | --- | --- | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------- ...

Flash | 30 Oct 2024 09:46:42 ET │ 11 pages NavInfo (002405.SZ) Quick Take – 3Q Results Beat; Narrowed Net Loss on Mix and Cost Control NavInfo reported 3Q24 results after market close on 30-Oct. 3Q24 revenue rose 5.4% yoy to Rmb861mn, slightly behind VAe by 2.3%. 3Q24 gross profit grew 8.9% yoy to Rmb325mn, with margin expanded 1.2ppts yoy or 7.8ppts qoq to 37.7% likely due to better mix (data compliance, chipsets biz) and cost reduction. 3Q24 opex notably fell 26.2% yoy to Rmb424mn, where opex ratio lowere ...

V i e w p o i n t | 28 Oct 2024 09:33:48 ET │ 11 pages Yutong Bus (600066.SS) 3Q Result Beat; Lift FY24 NP to Rmb3.53bn CITI'S TAKE Yutong reported 3Q24 NP of Rmb758mn (+31% YoY), beating market consensus of Rmb630-660mn, which we mainly attribute to top line beat and better-than-expected Opex control. The company reallocated aftersales service items from selling expense to gross profit, weighing 9M24 GPM by 3-4ppt, and if adjusting back, we estimate 3Q24 adjusted GPM around 22.5%, in-line with market conse ...

SEPTEMBER 2024 1 HUNGRY FOR GOOD JOBS: FOOD SERVICE WORKERS IN PUBLIC SCHOOLS LABOR CENTER SARA HINKLEY A REPORT FROM THE UC BERKELEY LABOR CENTER Acknowledgements Many thanks to Aida Farmand at the UC Berkeley Labor Center for modeling the public program participation of food service workers. This report benefited greatly from the feedback of Jennifer Gaddis of the University of Wisconsin (as well as her years of work in this area) and from conversations with Debbie Friedman and Eva Ringstrom with the Food ...