报告行业投资评级 报告给出了"亚太地区"行业的投资评级为"Attractive"[1]。 报告的核心观点 1) 钢铁表观消费正在在国庆假期后回升[1] 2) 长材产品产量持续增加,主要是由于库存较低和盈利能力较好[1] 3) 钢材库存在贸易商和钢厂端均有下降[1] 4) 铁矿石库存在钢厂和港口端均有下降[1] 5) 长材产品产量上升,而平材产品产量下降[1] 6) 全国范围内钢厂开工率有所上升[1] 分组1 - 钢铁表观消费在国庆假期后回升,长材产品产量持续增加[1] - 钢材库存在贸易商和钢厂端均有下降[1] - 铁矿石库存在钢厂和港口端均有下降[1] 分组2 - 长材产品产量上升,而平材产品产量下降[1] - 全国范围内钢厂开工率有所上升[1]

M Update China Equity Strategy | Asia Pacific October 10, 2024 09:00 PM GMT Source: CEIC, Bloomberg, Wind, RIMES, Morgan Stanley Research. Data as of October 9, 2024. A-Share Sentiment Hit Record High Amid Policy Expectation Swings Record-high trading volume and MS A-share sentiment reading reflected exuberant expectations for policy stimulus. However, near-term uncertainty remains; we focus on earnings visibility and dividend plays as we await further policy comments. A-share investor sentiment off the cha ...

M Update ANTA Sports | Asia Pacific October 10, 2024 04:27 PM GMT 3Q24 ANTA In-Line, FILA Missed; Golden Week Strong Reaction to earnings Weakens our investment thesis Modest shortfall Largely unchanged Impact to our investment thesis Financial results versus consensus Impact to next 12-month consensus EPS Source: Company data, Morgan Stanley Research We expect neutral to negative market reaction, with a FILA sales miss in 3Q somewhat offset by Golden Week's total sales beat. ANTA brand's new initiatives ha ...

报告行业投资评级 - 报告给予S.F. Holding Co Ltd (002352.SZ)的评级为Equal-weight [4] 报告的核心观点 - 报告认为S.F. Holding Co Ltd提出的中期股息和特别股息计划有利于提高股东回报,部分抵消其计划在香港上市可能带来的摊薄影响 [2] - 报告认为S.F. Holding Co Ltd完成的10亿元人民币股票回购计划以及正在进行的7.58亿元人民币股票回购计划,意味着如果全部注销,将为股东带来0.9%的回报 [2] 行业分析总结 - 报告覆盖了多家中国航空、航运、物流等行业公司,包括中国国航、东方航空、南方航空、中远海能运输、中远海控、太平洋航运等 [17] - 报告给予这些公司不同的投资评级,其中Overweight评级的有北京首都国际机场、广州白云国际机场,Equal-weight评级的有国泰航空、东方海外国际等 [17] - 报告还给予了一些公司Underweight评级,如海南美兰国际机场、中国南方航空等 [17]

October 10, 2024 02:45 AM GMT M Update Zhejiang Huahai Pharmaceutical Co. Ltd. | Asia Pacific Preliminary 3Q2024 Beat - Reiterate as Top Pick Reaction to earnings Strengthens our investment thesis Modest upside Largely unchanged Impact to our investment thesis Financial results versus consensus Impact to next 12-month consensus EPS Huahai reported a net profit range of Rmb239mn to Rmb297mn (+57% to +95% YoY), which are -3% and 21% versus our estimate. API export and China formulation segments carried the da ...

Global Markets Strategy 10 October 2024 J P M O R G A N EM Equity ETF Flows Daily net subscriptions/redemptions of major EM Equity ETFs – 9 October 2024 Equity Macro Research Rajiv Batra AC (65) 6882-8151 rajiv.j.batra@jpmorgan.com Khoi Vu, CFA (65) 6882-8170 khoi.t.vu@jpmorgan.com J.P. Morgan Securities Singapore Private Limited • Total EM: Net redemptions of US$1mn. • EM Broad: Net redemptions of US$1mn. • Mexico: Net redemptions of US$17mn. • India: Net redemptions of US$46mn. • China: Strong subscriptio ...

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报告行业投资评级 报告给出了中国医疗行业的"Attractive"的投资评级 [4] 报告的核心观点 1) Dong E E Jiao Co.的2024年第三季度业绩预计将大幅超预期,预计净利润同比增长43%至73% [2][3] 2) 这将很可能推动全年业绩预期上调,使得公司短期估值更具吸引力 [3] 行业概况 1) 报告涵盖了多家中国医疗行业公司,包括医药制造、医疗器械、诊断等细分领域 [18][21] 2) 这些公司中有多家被给予"Overweight"或"Equal-weight"的投资评级 [18][21] 公司研究 1) 报告重点分析了Dong E E Jiao Co.的业绩表现 [2][3] 2) 该公司主营中药材鹿角胶,预计业绩将大幅超预期 [2][3] 3) 报告认为公司的多元化拓展医院和线上渠道、新产品开发等都是潜在的上行机会 [6] 4) 但也面临着原料供给受限、低端竞争加剧等下行风险 [7]

M Update PDD Holdings Inc | Asia Pacific October 10, 2024 04:00 AM GMT Temu Progress Check - Sep 2024 In September, Temu added four more countries for the fullyentrusted model and one more country for the semi-entrusted model. Temu's MAU/DAU continued on a growth trajectory, with monthly downloads trending slightly down MoM. Key Takeaways In Sep, Temu entered four countries with the fully-entrusted model (incl. Vietnam) and 1 country with the semi-entrusted model As of Sep, Temu's global accumulated downloa ...

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