Conflict in the Middle East Multi-Asset Views on oil, markets, economics, stocks and more Escalating risks US strikes on Iranian nuclear sites have further intensified the conflict in the Middle East and will add to uncertainty to global economies and markets. For easy reference, we bring together recent reports, podcasts and videos from Global Investment Research across asset classes and geographies. Please also join one of our upcoming webcasts answering questions about the conflict in the Middle East. Ir ...

27 June 2025 | 6:34AM HKT Xiaomi Corp. (1810.HK) Buy Extending leadership in premium autos on YU7's above-expected release, expanding ecosystem frontier on AI Glasses' debut; Buy 1810.HK 12m Price Target: HK$69.00 Price: HK$56.90 Upside: 21.3% On June 26, Xiaomi officially released the long-expected YU7, Xiaomi's premium pure electric SUV series that combines performance, comfort and spaciousness. Number of orders reached 200k within the first 3min of sales (out of which 122k+ orders were confirmed), and 28 ...

Xiaomi Corp May 8, 2025 09:00 PM GMT SU7 Ultra Kicks Off Xiaomi's Luxury Journey, PT Up to HK$62 | What's Changed | | | | --- | --- | --- | | Xiaomi Corp (1810.HK) | From | To | | Price Target | HK$45.00 | HK$62.00 | We believe the launch of Xiaomi's SU7 Ultra has kicked off its luxury car journey, and the launch of its second EV - YU7 - could also be a significant positive catalyst in 2025. Meanwhile, AIoT and smartphone divisions are seeing positive momentum. We raise our price target to HK$62. Xiaomi's s ...

From US Exceptionalism to Sell America and Back Again. What next? US Exceptionalism: Extreme value creation meets macro uncertainties ab 23 June 2025 Global Research UBS HOLT Macro Webinar UBS HOLT Macro Webinar 23 June 2025 ab 2 How to position (time to look at GEM again?) Equities Global Financial Michel Lerner, CFA Head of HOLT michel.lerner@ubs.com +44-20-7883 3649 This report has been prepared by UBS AG London Branch. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES, including information on the Quantita ...

June 23, 2025 12:53 AM GMT India Economics – Macro Indicators Chartbook | Asia Pacific Policy Impetus to Bolster Growth Growth indicators exhibit a modest recovery led by domestic demand. Macro stability indicators have improved, increasing flexibility for policy makers. Uncertainty from external conditions continues to weigh on growth, even as India appears better placed on a relative basis. 1) Growth – uneven recovery: High-frequency data in May suggest a mixed trend across indicators, with ones such as G ...

23 June 2025 | 4:55PM IST India CRO/CDMO tour takeaways: Signs of China+1 progressing well, focus on investments in new modalities We hosted our 2nd annual India CRO/CDMO trip between 16th and 18th June, 2025 across Bangalore (1 day) and Hyderabad (2 days). The event featured 10 CRO/CDMO companies in the country across the listed and unlisted space. We saw high client interest with 20+ clients across the globe (US, mainland China, HK, Taiwan, India) flying down to attend the meetings. Exhibit 1: We hosted m ...

Joni Teves Precious Metals Strategist Tel: +65-6495-6851 Joni.teves@ubs.com This document has been prepared by UBS AG, Singapore Branch ANALYST CERTIFICATION AND REQUIRED DISCLOSURES, including information on the Quantitative Research Review published by UBS, begin on SLIDE 25 UBS does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. Investors should ...

June 23, 2025 12:53 PM GMT China Property | Asia Pacific M Update Weekly Database Tracker #25 Key Takeaways Asia Pacific Weekly primary unit sales in 50 cities were -10% YoY (vs. -9% YoY last week) for Industry View In-Line the week ended June 22: Tier 1 city sales were -23% YoY (vs. -8% YoY last week). Tier 2 city sales were -10% YoY (vs. -12% YoY last week). Tier 3 city sales were -1% YoY (vs. 0% YoY last week). Weekly secondary unit sales in 10 cities were -10% YoY (vs. +6% YoY last week): Tier 1 city we ...

June 26, 2025 04:50 PM GMT Xiaomi Corp | Asia Pacific YU7 – Another Success Ahead Key Takeaways YU7 is highly likely to be another success, and we reiterate our OW rating and Top Pick recommendation. Xiaomi launched its second EV, the YU7, on June 26 with starting price of Rmb253.5K for the basic model, Rmb279.9K for Pro and Rmb329.9K for Max. Compared with SU7's price range of Rmb215.9k to Rmb299.9k, YU7 has a higher price and we believe it could have a positive impact on ASP and margins in 2025-26. What's ...

招股书显示，周六福的公司收入主要来源于加盟商。2022年至2024年，周六福的营收分别为31.02亿 元、51.50亿元和57.18亿元；其中，加盟模式产品销售额占比已有半数。2022年至2024年，分别为 52.9%、55.4%、50.5%；同期自营店产品销售额占比仅有11.7%、9.5%和8.0%。净利润分别为5.75亿 元、6.60亿元和7.06亿元。不过，近年周六福的毛利率在持续下滑，分别为38.7%、26.2%和25.9%。 截至2024年12月底，周六福的线下销售网络门店共有4129家。涵盖中国31个省份及305个地级市；及位 于海外的四家加盟店。其中，加盟店数量分别为3974家、4288家、4034家，占周六福门店总数的比重为 98.08%、97.83%、96.56%，在珠宝行业中排名第五。 据弗若斯特沙利文的资料，以2024年商品交易总额及来自黄金珠宝产品的收入计算，周六福在中国所有 黄金珠宝公司中分别排名第六及第十，市场占有率分别为6.2%及1.0%。 回顾历史发现，除在港股上市外，周六福还曾谋求A股上市。分别在2019年4月，2022年6月提交过两次 IPO申请，但因加盟模式风险、知识产权 ...