China Industrials_ 2025 Outlook_ Cycle Bottom; Focus on Operations

January 7, 2025 09:01 PM GMT China Industrials | Asia Pacific 2025 Outlook: Cycle Bottom; Focus on Operations Industrial cycle could remain L-shaped amid deflation and tariff pressure, with intense competition. Macro policy and company operations are key factors for stock selection. Shuanghuan is our new Top Pick, we also like the leading companies in sub-sectors. Key Takeaways Manufacturing capex cycle to stay L-shaped in 2025: We anticipate mild growth (0-2% y-y) in automation market in 2025, with continu ...