CICC: China International Capital Corporation. China International Capital Corporation has added Cathay Pacific and China Merchants Securities to the list of companies under positive catalyst observation, and upgraded their rating to "Neutral".

JPMorgan Chase released a report, upgrading the rating of Guotai Junan International's H shares and A shares from "underweight" to "neutral," placing them on the watchlist for positive catalysts, believing that they are among the primary beneficiaries of the recent surge in the Sci-Tech Innovation Board; secondly, benefiting from the increase in daily average trading volume and margin financing business in May, the industry's fundamentals are improving; thirdly, considering the recent underperformance, the current valuation appears reasonable. The bank believes that collecting attractive risk-return profiles of Guotai Junan A shares and H shares before potential better-than-expected second-quarter results is appealing. The bank predicts that Guotai Junan will achieve approximately 64% and 140% year-on-year growth in revenue and profit, respectively, in the second quarter of 2026, driven by investment income enhancement and the low base of the second quarter of 2025. This growth momentum may surpass peers in the Chinese brokerage industry and should support short-term stock performance.