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Express News | Tianfeng: The application of AI at the terminal is expected to drive rapid expansion of demand for AIoT (AI Internet of Things).
Express News | Song Xuetao: The US dollar will weaken from the end of this year to the beginning of next year.
Express News | Song Xuetao: The A-share market is expected to perform well next year, and the logic of reversal is very clear.
Tianfeng: Maintain CTIHK's "Buy" rating, expected to become a direct beneficiary of Industry development and transformation.
Tianfeng released a research report stating that it maintains a "Buy" rating for CTIHK (06055), believing that the company, backed by the China Tobacco Group, has significant competitive advantages. It is currently the only overseas capital operation and international business expansion platform under China Tobacco, making it a rare entity and expected to become a direct beneficiary of the development and transformation of the Tobacco industry in China. The company forecasts its net income for 2024/25/26 to be 0.787/0.91/1.1 billion Hong Kong dollars; the company is the only international business platform within the China Tobacco system. The company issued a positive profit forecast, expecting that the profit attributable to owners for the full year of 2024 will increase by no less than 30% year-on-year.
Express News | Tianfeng: Bullish on ByteDance's continued investment in the AI field.
Tianfeng Securities: Initiating coverage with a "Buy" rating for Chabaidao.
Recently, Tianfeng Securities initiated coverage on Cha Baidao (02555), assigning it a "Buy" rating. The report states that in terms of product capability, Cha Baidao's product matrix combines classic and seasonal limited products, leading the market with high cost performance; in terms of business model, the company's main source of income is from franchising, aiming for a more stable revenue source. Due to strict selection, only about 7% of candidates can become franchisees; in terms of supply chain, Cha Baidao continues to invest in supply chain construction. The firm expects that as supply chain efficiency improves and transportation costs are optimized, material costs will be effectively controlled, enhancing Cha Baidao's future gross profit.