Group 1 - Nvidia CEO Jensen Huang visited TSMC's 3nm production line to discuss capacity assurance, highlighting the deep partnership between the two companies. TSMC's current monthly capacity is 100,000 wafers, with plans to increase to 160,000 wafers by 2026, primarily to supply Nvidia [2] - Intel has accused former employee Jinfeng Luo of stealing 18,000 confidential files, seeking $250,000 in damages. Luo attempted to download company data before being laid off [3] - Goldman Sachs raised BeiGene's target price to $408.79, citing a 40% year-over-year increase in product sales to $1.4 billion in Q3, driven by Brukinsa's revenue surpassing $1 billion for the first time [4] Group 2 - Chanel denied rumors of opening a new boutique in Chongqing, stating there are currently no such plans [5] - The U.S. government has issued new guidelines that may lead to visa denials for foreign applicants with diabetes or obesity, citing potential financial burdens on the public healthcare system [6] - China Mobile participated in the D-round financing of New Stone Robotics, focusing on urban logistics and autonomous vehicle development [6] Group 3 - IDC reported that China's tablet market shipped 8.49 million units in Q3 2025, a 10.9% year-over-year increase, with consumer market shipments up 12.3% despite a slowdown due to tightened subsidies [7] - Xibei has closed nearly 10 locations nationwide since October, with the company stating that the closures are part of a unified arrangement for strategic optimization [8] - Longi Green Energy's chairman stated the company is not directly involved in the silicon material sector, focusing instead on solar products and solutions [9] Group 4 - Baidu's fund has invested in Popi AI, a company developing AI animation tools, indicating a strategic move into the AI content creation space [10] - In October, the wholesale price of eggs in China dropped over 26% year-on-year, with a current price of 7.63 yuan per kilogram, reflecting a supply surplus [11] - The hotpot brand founded by singer Xue Zhiqian will close its Guangzhou location by December 15, leaving only one operational store in Shanghai [12]

Core Insights - Goldman Sachs reports that BeiGene's product sales in Q3 reached $1.4 billion, a 40% year-over-year increase, exceeding market expectations [2] - Brukinsa is the main growth driver, with revenue surpassing $1 billion for the first time, reflecting a 51% year-over-year growth and establishing it as the global leader in the BTK market, surpassing Imbruvica [2] - Due to strong sales performance, the company raised its full-year sales guidance to between $5.1 billion and $5.3 billion [2] - Goldman Sachs adjusted BeiGene's earnings per share forecasts for 2025 to 2027 and maintained a "Buy" rating, increasing the target price for U.S. stocks from $399.73 to $408.79 [2]

Core Insights - Goldman Sachs reported that BeiGene's product sales in Q3 increased by 40% year-on-year to $1.4 billion, exceeding market expectations [1] - Brukinsa remains the primary growth driver, with revenue reaching $1 billion for the first time, representing a 51% year-on-year growth, and it has surpassed Imbruvica to become the global leader in the BTK market [1] - Based on strong sales performance, the company raised its full-year sales guidance from $5 to $5.3 billion to $5.1 to $5.3 billion [1] - The earnings per share forecast for BeiGene for 2025 to 2027 has been adjusted from $2.69, $6.18, and $7.32 to $3.78, $6.26, and $6.64 respectively [1] - Goldman Sachs maintains a "Buy" rating, increasing the target price for US shares from $399.73 to $408.79, and for A-shares from ¥353.97 to ¥366.48 [1]

基于首三季表现，该行轻微下调销售开支等开支预测，并将2025至27年每股盈利预测分别上调55.2%、 0.6%及0.4%；美股目标价由389美元升至402.2美元，H股目标价由234.9港元升至242.87港元，重申"买 入"评级，基于其强劲的全球商业表现及稳定的研发管线进展。 美银证券发表研究报告指，百济神州第三季产品收入13.95亿美元，按年增长40.4%；总收入14.12亿美 元，按年增长41%，主要受百悦泽(Brukinsa)按年增长51%推动。期内净利润1.25亿美元，按年扭亏转 盈。管理层将全年收入指引由50至53亿美元，升至51至53亿美元。 ...