Nongfu (9633 HK): Big Upside After 2025 Result Surge - Looking Back Over Past 5 Years
Revenue growth rate accelerated to 30% in 2H25. In 2025, the operating margin improved by 5 ppt. In five years, EPS has grown by 192%, but the...
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China Macro: Sector Positioning Update
Sector positioning among active China Funds. Industrials and Consumer Staples Remain Top Overweights, Energy shows signs of a turnaround, whilst...
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CATL A/H Listing - Early Look - US$5bn Could Be Hong Kong’s Largest This Year
The company has now officially filed for a Hong Kong listing and is said to be looking to raise US$5-7bn. The lead banks on the deal are BofA,...
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HSCEI Dec 2026 Index Rebalance Forecast
We expect Shenzhou to be deleted below rank 60 and Hua Hong Grace to fill its seat, while a mid-conviction WuXi Bio ADD would also see ZTO deleted.
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Primer: Nongfu Spring (9633 HK) - Oct 2025
Nongfu Spring is the dominant market leader in China's packaged drinking water and broader beverage industry, demonstrating consistent growth...
516 Views