Group 1 - Morgan Stanley has included China National Materials (002080.SZ) in its focus list for China and Hong Kong, while removing PetroChina (00857) from the list [1] - The firm believes that China National Materials has a positive outlook due to the booming development of artificial intelligence infrastructure and the demand for energy storage systems (ESS) in China, which significantly boosts the demand for key raw materials in printed circuit boards (PCB) [1] - China National Materials is expected to see a rebound in profitability and revenue from its battery separator business, with projected earnings growth of 101%, 63%, and 45% year-on-year from 2025 to 2027 [1] Group 2 - Morgan Stanley has also included Ping An Insurance (601318.SH) in its focus list for A-shares, while removing PetroChina (601857.SH) from the list [1] - The firm anticipates a re-rating for Ping An Insurance, citing improvements in the company's fundamentals and attractive A-share valuation at approximately 1.1 times the projected price-to-book ratio for the fiscal year 2026 [1] - The dividend yield for Ping An Insurance is expected to exceed 4%, with a return on equity (ROE) projected to be around 15% [1]