焦点科技：招银国际环球市场有限公司

Investment Rating - The report assigns a "Buy" rating to multiple companies, indicating a potential upside of over 15% in the next 12 months [2][11]. Core Insights - The report highlights a basket of 26 long positions with an average return of -4.1%, compared to the MSCI China index return of -2.2% [8]. - Among the 26 long positions, 4 stocks recorded returns of 5% or more, and 11 outperformed the benchmark [8]. Summary by Company - Li Auto (LI US): Buy rating, target price of 26.00, potential upside of 24%, FY24E P/E of 21.2 [2]. - Geely Automobile (175 HK): Buy rating, target price of 14.00, potential upside of 70%, FY24E P/E of 11.7, dividend yield of 2.5% [2]. - Zoomlion Heavy Industry (1157 HK): Buy rating, target price of 7.50, potential upside of 60%, FY24E P/E of 8.4 [2]. - Zhejiang Dingli (603338 CH): Buy rating, target price of 75.00, potential upside of 48%, FY24E P/E of 12.6, dividend yield of 1.9% [2]. - Kweichow Moutai (600519 CH): Buy rating, target price of 2219.00, potential upside of 50%, FY24E P/E of 23.1, dividend yield of 1.5% [2]. - Tencent (700 HK): Buy rating, target price of 480.00, potential upside of 29%, FY24E P/E of 17.8 [2]. - Alibaba (BABA US): Buy rating, target price of 124.90, potential upside of 59%, FY24E P/E of 19.4 [2]. - Xiaomi Group (1810 HK): Buy rating, target price of 25.39, potential upside of 55%, FY24E P/E of 16.2 [2]. - BYD Electronics (285 HK): Buy rating, target price of 45.15, potential upside of 28%, FY24E P/E of 14.0, dividend yield of 1.6% [2]. - Northern Huachuang (002371 CH): Buy rating, target price of 405.00, potential upside of 15%, FY24E P/E of 32.2 [2].