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>Salesforce announced 3QFY26 results: total revenue grew by 9% YoY to US$10.3bn, in line with Bloomberg consensus estimate; non-GAAP operating income was up by 17% YoY to US$3.6bn, 4% ahead of consensus estimate mainly due to the timing of expenses and bad debt expense adjustment.</li><li>cRPO increased by 11% YoY to US$29.4bn, c.100bps ahead of the guidance, primarily thanks to the strong bookings on the back of solid Agentforce momentum.</li><li>Agentforce and Data 360 ARR reached c.US$1.4bn in 3QFY26, up 114% YoY. For 4QFY26E, management expected total revenue to increase by 11-12% to US$11.13-11.23bn, including c.3ppts contribution from Informatica consolidation; and cRPO to grow by c.15% YoY, including c.4ppts Informatica contribution. </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>

Salesforce announced 3QFY26 results: total revenue grew by 9% YoY to US$10.3bn, in line with Bloomberg consensus estimate; non-GAAP operating income was up by 17% YoY to US$3.6bn, 4% ahead of consensus estimate mainly due to the timing of expenses and bad debt expense adjustment.cRPO increased by 11% YoY to US$29.4bn, c.100bps ahead of the guidance, primarily thanks to the strong bookings on the back of solid Agentforce momentum.Agentforce and Data 360 ARR reached c.US$1.4bn in 3QFY26, up 114% YoY. For 4QFY26E, management expected total revenue to increase by 11-12% to US$11.13-11.23bn, including c.3ppts contribution from Informatica consolidation; and cRPO to grow by c.15% YoY, including c.4ppts Informatica contribution. 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.

Salesforce (CRM US) - Solid 3QFY26 Results; Robust Agentforce and Data 360 Momentum

Salesforce.Com Inc

Salesforce (CRM US) - Solid 3QFY26 Results; Robust Agentforce and Data 360 Momentum