GMT EIGHT - Research - HK Stock

JP Morgan: upgraded ROBOSENSE (02498) rating to "overweight" with target price adjusted to 53 Hong Kong dollars.

CICC believes that due to the broader prospects for LiDAR applications and more potential for growth in the future, Tusimple is worth reevaluating its valuation.

UBS: Optimistic about the listing of KERRY PPT (00683) Jinglin Huating Phase II, reiterates "buy" rating.

In the first phase, about half of the contracted sales revenues are still pending. Taking into account the total salable resources in the second phase, it is estimated that Kerry's expected net debt ratio may decrease to 22%, and the net debt may also decrease by 42%.

Goldman Sachs: China Pacific Insurance (02601) issued zero-interest convertible bonds with a target price of HK$30.5.

Given the uncertainty of long-term bond yield trends, the bank believes that additional capital can make the company more flexible in capital management.

UBS: POP MART (09992) stock price pullback creates buying opportunity.

The bank reiterated its "buy" rating with a target price of 432 Hong Kong dollars.

Morgan Stanley: The innovation of BABA-W(09988) Gaode map business or the first step in re-promoting in-store services.

According to data from Quest Mobile, after this artificial intelligence upgrade, Amap remains the largest navigation map application in China, with nearly 200 million daily active users (DAU).

Morgan Stanley: LAOPU GOLD (06181) believes that consumers have started to accept its pricing mechanism and will continue to adjust prices twice a year.

Short-term fluctuations in the price of gold can affect gross profit margins, but our long-term goal is to maintain gross profit margins at around 40%.

ZHOU HEI YA's mid-term performance attracts a flock of securities companies to recommend buying: Lianying maintains a "high certainty of outperforming the market" and raises the target price, while Citigroup reiterates a "buy" rating.

In mid-term performance, Zhouheiya attracted many brokerage firms to be bullish on their stock.

BOCOM INTL: Raises SF INTRA-CITY (09699) target price to HK$15.4, maintains "buy" rating.

The company has raised its profit forecast for 2025-2027 by 26%/23%/27% to 3.4-7.6 billion RMB, with Non-IFRS net profit margins of 1.5%/2%/2.6% respectively.

CISI FIN: Maintains "buy" rating on SF INTRA-CITY (09699), profit side still has room for growth.

City delivery service (B) / City delivery service (C) / Last mile delivery business income were 4.5 / 1.3 / 4.5 billion yuan respectively, with year-on-year growth of 55%, 13%, and 57% respectively.

CISI FIN: Initiates "Buy" Rating on Orient (03958), Optimistic About Company's Transformation in Fee-based Business Segment and Growth Potential

East securities asset management public offering transformation effect is showing, driving the overall AUM increased by 7.9% compared to the beginning of the year.

Haitong International: Maintains "Outperform" rating on CMS (00867) with a target price of HKD 18.38.

Kangzhe Pharmaceutical achieved a revenue of 4 billion yuan in the first half of the year, an increase of 11% year-on-year. Among them, the revenue of main exclusive/branded products and innovative products was 2.9 billion yuan, an increase of 21% year-on-year (all based on drug sales revenue), serving as the core engine for the company's performance to return to growth.

UBS latest report: What are the long-term investment directions to bet on by 2025? These five major themes are highly favored.

UBS recommends investors to reduce exposure to "gene therapy" and "medical technology", and instead prioritize five major themes such as digital consumers.

Overseas strategy: US Federal Reserve cuts interest rates, how will asset prices evolve?

Guotai Junan Securities stated that the rate cut by the Federal Reserve will significantly affect the trends of stocks, bonds, and foreign exchange assets, while the trend of commodities is not clear.

Zhongxin Liang: Chinese stocks have not shown widespread overheating phenomena and it is difficult to reverse the internal competition in the food delivery industry.

On September 10th, CICC's strategist for China, Li Shihao, stated that there is currently no widespread overheating in both onshore and offshore Chinese capital markets, with overheating limited to individual sectors. He pointed out that the mainland has not yet reached the level of full participation in the stock market by the public, and the enthusiasm for A-shares is still at a healthy level.

Core innovation pipeline continues to drive growth. Morgan Stanley gives HENLIUS (02696) a valuation of 72 billion yuan, with a target price reaching another high.

Morgan Stanley has released its latest research report, conducting a comprehensive evaluation of the value of the innovative drug pipeline of Fosun Pharma (02196) and its controlling subsidiary Hengrui Medicine (02696).

CMB International: Maintain "Buy" rating for AKESO (09926) with a target price of HK$182.12.

Although the FDA still primarily relies on predetermined analysis results to make evaluation judgments, the company believes that mature long-term overall survival data is crucial for assessing the efficacy of the treatment for Western patients.

Goldman Sachs: Citing Bilibili-W (09626) is expected to become a major work with daily active users reaching millions with the release of "Three Kingdoms: One Hundred Generals". The target price is maintained at 205 Hong Kong dollars.

The 3C digital business saw growth in the second quarter exceeding expectations, driven by the 618 shopping festival and national subsidies; home and household products also benefited from subsidies and performed well during the 618 period, with the trend expected to continue until the end of the year.

CMB International: Maintains "Buy" rating on JNBY (03306) with target price raised to HKD 23.30

Overall, the company's sales and net profit resilience remain strong and continue to lead the industry, but the net profit growth rate for the 26 fiscal year may be relatively mild.

Yamato: Raised target price for CHERVON (02285) to HK$25, positive feedback from investor day.

Management expects that by the end of this year, Vietnamese production capacity can meet 60% of the product demand for exports to the United States, and believes that this will help alleviate concerns about the long-term impact of tariffs and competition in the market.

FIRST SHANGHAI: Maintains "buy" rating on CONSUN PHARMA (01681) with a target price of 25.2 Hong Kong dollars.

Taking into account the continuous optimization of the company's operating structure, the renal disease products occupy a leading position in the market, with stable performance growth, high dividends and repurchases together showcasing value and confidence.

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