External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Adobe announced 2QFY25 financial results: total revenue increased by 11% YoY to US$5.87bn, and non-GAAP net income was up by 7% YoY to US$2.17bn, both in line with Bloomberg consensus estimate.</li><li>The company raised FY25 total revenue target to US$23.50-23.60bn (previous: US$23.30- 23.55bn) and non-GAAP EPS target to US$20.5-20.7 (previous: US$20.2-20.5), mainly thanks to the strong ARR performance of Digital Media business and the adoption of AI products.</li><li>Management noted that its AI-first products remain on track of achieving its US$250mn ARR target by end-FY25, up from c.US$125mn as of end-1QFY25. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Adobe announced 2QFY25 financial results: total revenue increased by 11% YoY to US$5.87bn, and non-GAAP net income was up by 7% YoY to US$2.17bn, both in line with Bloomberg consensus estimate.The company raised FY25 total revenue target to US$23.50-23.60bn (previous: US$23.30- 23.55bn) and non-GAAP EPS target to US$20.5-20.7 (previous: US$20.2-20.5), mainly thanks to the strong ARR performance of Digital Media business and the adoption of AI products.Management noted that its AI-first products remain on track of achieving its US$250mn ARR target by end-FY25, up from c.US$125mn as of end-1QFY25. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Adobe (ADBE US) - AI Products on Track to Hit US$250mn ARR Target by End-FY25

Adobe Systems

Adobe (ADBE US) - AI Products on Track to Hit US$250mn ARR Target by End-FY25