h 股 c r a 票 e s e R 研 y [Table_Title] Teddy Lin 林荣叶 tiu Company Report: Autohome-S (02518 HK) 究 q (852) 2509 5409 E 公司报告： 汽车之家-S (02518 HK) rongye.lin@gtjas.com.hk 29 February 2024 E[Tmablpe_oSwumemrianryg] the New Retail Ecosystem in the Auto Industry, Navigating the Path to New Energy Sustainability tr 公 o p e 司 R  W HKe 6m 7a .0in 8t a ri en r" eB su eny" ni gn v 1e 4s .5tm e 2n 02t 4r Pat /i En .g ua tn od mre ev 'sis 2e 2o 3u r vta er ng ue et rop sr eic 3e 5t %o 报 y n a $ , p ti x A ho 0 re . [RTaabt ...

M N 28 Feb 2024 CMB International Global Markets | Equity Research | Company Update ZTE (763 HK) MWC 2024: Industry moves towards developing 6G Target Price HK$27.4 As the Mobile World Congress (MWC) unfolded in Barcelona on Monday, AI/5G+6G innovations emerged as a dominant theme, with leading suppliers in (Previous TP HK$27.4) the telecom industry showcasing their latest technologies. ZTE's A-share Up/Downside 56.2% (000063 CH) and H-share (763 HK) prices surged by 10.0% and 10.6%, Current Price HK$17.54 ...

M N 27 Feb 2024 CMB International Global Markets | Equity Research | Company Update BeiGene (BGNE US) Expect a productive 2024 for early pipeline assets  Strong sales momentum of zanubrutinib eased market concerns. In 4Q23, Target Price US$268.20 BeiGene recorded total product sales of US$631mn (+6% QoQ or +86% YoY). (Previous TP US$295.67) Zanubrutinib (zanu) maintained strong sales momentum, with revenue increasing Up/Downside 67.4% 15% QoQ or 135% YoY to US$413mn, mainly driven by market share gains in ...

M N 28 Feb 2024 CMB International Global Markets | Equity Research | Company Update Shengyi Tech (600183 CH) FY23 preliminary results review; expect gradual recovery in 2024 Target Price RMB19.69 Shengyi Tech unveiled its FY23 earnings preview after Tuesday's market close. Full-year revenue was RMB16.6bn (-7.9% YoY) and net profit was RMB1.16bn (- (Previous TP RMB20.39) 24.0% YoY), which were 3%/13% and 3%/9% lower than our/consensus estimates, Up/Downside 15.1% respectively. For 4Q23, revenue decreased 2.3 ...

M N 27 Feb 2024 CMB International Global Markets | Equity Research | Company Update Li Auto Inc. (LI US) 4Q23 results set the tone for resilient FY24 Target Price US$48.00 Maintain our top pick. Li Auto’s strong beat in 4Q23 GPM led to an all-time (Previous TP US$45.00) high operating margin of 7.3%. Its FY23 net margin of 9.5% was also much Up/Downside 37.9% higher than its guidance of 5% in mid-2023. Management has also provided a Current Price US$34.80 clear path to achieve its FY24 sales target and is s ...

| --- | --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------|-------------------------|-------------------------------------------------------------------|---------------------------------------------|---------------------------------------------|----------------------------------| | | Central, Sheung Wan, HK | | | | | | medical segment boomed YoY 75.2% to MYR 148.2mn. Thanks to the growing contribution | Pentamaster (01665.HK) ...