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>VSTECS, founded in 1991, is one of the leading IT distributors and cloud service providers in Asia.</li><li>Supported by its solid market leadership, global footprint and diversified IT solution offerings, VSTECS is well-positioned to benefit from the booming demand for AI computing, IT localisation trend in China, and robust digitalisation demand in Southeast Asia, in our view.</li><li>VSTECS’ total revenue reached HK$73.9bn in 2023, with enterprise systems/consumer electronics/ cloud computing accounting for 55/41/4% of total revenue. </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>

VSTECS, founded in 1991, is one of the leading IT distributors and cloud service providers in Asia.Supported by its solid market leadership, global footprint and diversified IT solution offerings, VSTECS is well-positioned to benefit from the booming demand for AI computing, IT localisation trend in China, and robust digitalisation demand in Southeast Asia, in our view.VSTECS’ total revenue reached HK$73.9bn in 2023, with enterprise systems/consumer electronics/ cloud computing accounting for 55/41/4% of total revenue. 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.

VSTECS (856 HK) - Leading IT Distributor in Asia Riding on Tailwinds of AI & Overseas Expansion

Vst Holdings

VSTECS (856 HK) - Leading IT Distributor in Asia Riding on Tailwinds of AI & Overseas Expansion