Europe Equity Research 02 December 2024 J P M O R G A N Metal Inventories in China China metals channel check: steel production & China steel demand flat week on week & stable across November. JPM latest iron ore market review. We present our high frequency inventory trends for steel, iron ore, copper, aluminium and zinc in China, for the week ended 29 November. The period captures the last 9-week period since China announced coordinated monetary policy loosening on 24 Sept. Last week's high frequency data ...

M Update Hon Hai Precision | Asia Pacific December 2, 2024 03:46 AM GMT Our Take on the GB200 Server Rack Delivery and Order Trend What's new? Commercial Times reported today that Microsoft has cut its GB200 server rack orders by 40% and transferred part of the orders to GB300 server racks. This is because GB200 mass production will likely be delayed into March 2025 due to technological bottlenecks for cartridge connector design. Digitimes also reported today that xAI has placed an order for 1,600 GB200 ser ...

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Buy Price (29 Nov 24 16:10) HK$38.70 Target price HK$52.20 Expected share price return 34.9% Expected dividend yield 2.6% Expected total return 37.4% Market Cap HK$48,618M US$6,247M 02 Dec 2024 02:03:13 ET │ 11 pages MINISO Group (9896.HK) Citi-hosted CFO group call takeaways; Outlooks for 4Q24E and 25E CITI'S TAKE On Citi-hosted CFO group call today (Dec 2), mgt shared detailed colors on its strong 4Q24 overseas market outlook that would support its maintained 24E full-year guidance (i.e., 20-30% YoY sales ...

shuinu9870 shuinu9870 shuinu9870 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： 更多一手调研纪要和研报数据加V： 更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 shuinu9870 更多一手调研纪要和研报数据加V： shuinu9870 更多一手调研纪要和研报数据加V： Jefferies China (PRC) | Internet Baidu Inc. Equity Research November 26, 2024 | --- | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Flash | 02 Dec 2024 13:26:53 ET │ 11 pages Greater China Semiconductors China Memory Update: CXMT to Add 50k DDR5 Capacity in 2025, Supply Localization to Persist CITI'S TAKE We expect growing Chinese memory supply as domestic memory makers continue to expand capacity to meet localization demand. Our recent discussion with industry participants indicated CXMT, China's leading DRAM maker, plans to add 50k wpm capacity in 2025, mainly for DDR5, leading to a total capacity of 200k by year-end (100k for DDR4, 1 ...

Flash | 02 Dec 2024 10:28:27 ET │ 8 pages China Steel Takeaways from call with steel trader – Potential Supply Reform CITI'S TAKE We hosted an industry call on the iron ore and steel market on 2nd Dec. Mr. NIU Wei, Investment Director at Huishi Asset Management, attended the meeting. Mr. Niu sees a potential supply reform in a differentiated manner likely in 2H25E. He is cautiously optimistic on steel export next year, as China's steel mills still have the cost competitiveness vs overseas players. The confe ...

M Idea Commodity Matters | Europe December 2, 2024 02:34 PM GMT China's Surging Coal Imports China's thermal coal imports have risen 80% in the last 2 years and are showing no sign yet of peaking out. New coal contract guidelines from 2025, including relaxed minimum captive sourcing requirements and improved linkages to international prices, are likely a further boost to import volumes. Key Takeaways New contract guidelines lower the minimum captive share requirement from 80% to 75% from 2025, giving genera ...

Flash | 02 Dec 2024 09:12:54 ET │ 11 pages China Hardware and Semiconductors Initial Assessment of Potential Handset Subsidy Impact CITI'S TAKE The market is excited about the potential national handset trade-in subsidy, which we believe to fall in 1H25 as there are several provincial handset subsidy policies in 2H24. The latest Jiangsu subsidy is apparently more effective on higher cap, which benefits part of high-price smartphones, yet overall smartphone sell-out shipment was weak in 2H24 even with subsid ...

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