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<Research>BOCI Chops AAC TECH TP to $47.2 as M&A/ Non-smartphone Diversification Biz Offset Sector Pressure
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<H Shrs>HSI Fades 160 Pts at Midday; Alibaba, Xiaomi Squeezed; Geely, Li Ning Rally
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<Hindsight>Latest Ratings, TPs, Views on BABA-W Post-results (Table)
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<Research>Citi Trims AAC TECH TP to $40 as Mgmt Guides for at Least 16% Rev. Growth This Yr
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<Midday Takeaway>HSI Closes Midday at 25,340, Down 160 pts; HSTI Closes Midday at 4,911, Down 84 pts; XIAOMI Down over 6%; BABA Down over 5%; QINGSONG HEALTH, CITIC TELECOM Hit New Highs
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<Warning>ZHENRO PPT Warns of Net Loss RMB17-18B & Core Loss RMB5-6B for 2025
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<Research>UOB Kay Hian: HORIZONROBOT-W TP Dropped to $8.45 as 2025 Rev. Beats
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<Research>Citi: CHINA UNICOM 4Q25 NP Major Miss; 2026 Capex Guidance Drops ~8%
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<Research>Citi Sets CKH's TP at HKD78, Adds 90D Short-Term Upside View; Diversified Portfolio Supports Stable Growth
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<Research>UBS Keeps Buy on BABA-W; Results Miss, But Long-term Outlook Positive
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<Research>Citi Tweaks Up CK ASSET's TP to HKD54.8, Anticipates Better Profit Margins This Yr
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<Research>Citi: LI NING 2025 NP Beats Forecast by 9%; Sales Expenses Below Prediction
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<Research>CLSA: CKH HOLDINGS Final DPS Slightly Beats; Exit from Telecom Biz, Sale of Port Assets Still Expected
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<Research>UBS Reiterates Buy on LI NING w/ TP HKD28.6; 2H25 Results Strongly Beat
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<Research>JPM Expects CKH HOLDINGS Core Biz Improvement to Drive Continued Profit Growth; Rating Overweight Kept
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<Research>CMS Keeps GEELY AUTO as Top Pick, Raises 2026-27 Earnings Forecasts
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<Research>JPM: CK ASSET Unlikely to Make Large-scale Investments in ST; Rating Kept at Neutral
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<Research>Citi Initiates 30-Day Positive Catalyst Watch on GEELY AUTO
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<Research>CLSA: LI NING's 2H25 NP Strongly Beats; Focus on This Yr's Guidance
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<Research>Daiwa: TENCENT Quarterly Results Solid w/ Accelerated AI Investment; Rating Reiterated at Buy
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