--- title: "#外资研报" topic_id: 82255824422188112 created_at: 2026-05-06T07:42:30.470+0800 source: zsxq type: topic cssclasses: zsxq-vault --- # #外资研报 - 序号：475 - 星球链接：[打开网页](https://wx.zsxq.com/group/15522451881222/topic/82255824422188112) - 附件：图片 0，音频 0，文档 9 - 音频文件：_无音频_ ## 图片 _无图片_ ## 正文 _无正文_ ## 总体总结 _暂无总结_ ## 文档 ### JPM-中国物流、快递与电商：3 月数据显示单价持续回升，件量增速放缓，行业纪律强化；整体维持看好 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volume growth, reinforcing sector discipline; stay broadly positive.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260506_0742__外资研报__JPM-中国物流、快递与电商：3 月数据显示单价持续回升，件量增速放缓，行业纪律强化；整体维持看好 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volume gr.pdf|JPM-中国物流、快递与电商：3 月数据显示单价持续回升，件量增速放缓，行业纪律强化；整体维持看好 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volume growth, reinforcing sector discipline; stay broadly positive.pdf]] #### 预览 [[assets/docs/260506_0742__外资研报__JPM-中国物流、快递与电商：3 月数据显示单价持续回升，件量增速放缓，行业纪律强化；整体维持看好 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volume gr.pdf|JPM-中国物流、快递与电商：3 月数据显示单价持续回升，件量增速放缓，行业纪律强化；整体维持看好 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volume growth, reinforcing sector discipline; stay broadly positive.pdf]] ### JPM-中国物流、快递与电商：3 月数据显示 ASP 持续复苏，件量增速放缓，行业纪律性强化；维持整体乐观 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volume growth, reinforcing sector discipline; stay broadly positive.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260506_0742__外资研报__JPM-中国物流、快递与电商：3 月数据显示 ASP 持续复苏，件量增速放缓，行业纪律性强化；维持整体乐观 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volum.pdf|JPM-中国物流、快递与电商：3 月数据显示 ASP 持续复苏，件量增速放缓，行业纪律性强化；维持整体乐观 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volume growth, reinforcing sector discipline; stay broadly positive.pdf]] #### 预览 [[assets/docs/260506_0742__外资研报__JPM-中国物流、快递与电商：3 月数据显示 ASP 持续复苏，件量增速放缓，行业纪律性强化；维持整体乐观 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volum.pdf|JPM-中国物流、快递与电商：3 月数据显示 ASP 持续复苏，件量增速放缓，行业纪律性强化；维持整体乐观 China Logistics, Express Parcel and Ecommerce March data highlight sustained ASP recovery, slower volume growth, reinforcing sector discipline; stay broadly positive.pdf]] ### JPM-中国石化（600028）：指引二季度炼油成本上涨10美元每桶，维持中性评级 Sinopec A_H Guiding $10bbl refining cost inflation in 2Q, maintain Neutral.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260506_0742__外资研报__JPM-中国石化（600028）：指引二季度炼油成本上涨10美元每桶，维持中性评级 Sinopec A_H Guiding $10bbl refining cost inflation in 2Q, maintain Neutral.pdf|JPM-中国石化（600028）：指引二季度炼油成本上涨10美元每桶，维持中性评级 Sinopec A_H Guiding $10bbl refining cost inflation in 2Q, maintain Neutral.pdf]] #### 预览 [[assets/docs/260506_0742__外资研报__JPM-中国石化（600028）：指引二季度炼油成本上涨10美元每桶，维持中性评级 Sinopec A_H Guiding $10bbl refining cost inflation in 2Q, maintain Neutral.pdf|JPM-中国石化（600028）：指引二季度炼油成本上涨10美元每桶，维持中性评级 Sinopec A_H Guiding $10bbl refining cost inflation in 2Q, maintain Neutral.pdf]] ### JPM-中国人工智能行业：DeepSeek V4，行业利好被误读为零和冲击——重申对智谱和MiniMax的“增持”评级(1)-20260426.pdf - 状态：failed - 错误：内部错误 - 本地资源：_无本地文件_ ### JPM-中国锂业动态：格林布什锂矿交付不及预期，天齐锂业事件无需过度解读 China Lithium Dashboard Greenbushes underdelivers, read-through on Tianqi.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260506_0742__外资研报__JPM-中国锂业动态：格林布什锂矿交付不及预期，天齐锂业事件无需过度解读 China Lithium Dashboard Greenbushes underdelivers, read-through on Tianqi.pdf|JPM-中国锂业动态：格林布什锂矿交付不及预期，天齐锂业事件无需过度解读 China Lithium Dashboard Greenbushes underdelivers, read-through on Tianqi.pdf]] #### 预览 [[assets/docs/260506_0742__外资研报__JPM-中国锂业动态：格林布什锂矿交付不及预期，天齐锂业事件无需过度解读 China Lithium Dashboard Greenbushes underdelivers, read-through on Tianqi.pdf|JPM-中国锂业动态：格林布什锂矿交付不及预期，天齐锂业事件无需过度解读 China Lithium Dashboard Greenbushes underdelivers, read-through on Tianqi.pdf]] ### JPM-中国科技：新加坡_香港市场调研反馈 China Technology SG_HK marketing feedback.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260506_0742__外资研报__JPM-中国科技：新加坡_香港市场调研反馈 China Technology SG_HK marketing feedback.pdf|JPM-中国科技：新加坡_香港市场调研反馈 China Technology SG_HK marketing feedback.pdf]] #### 预览 [[assets/docs/260506_0742__外资研报__JPM-中国科技：新加坡_香港市场调研反馈 China Technology SG_HK marketing feedback.pdf|JPM-中国科技：新加坡_香港市场调研反馈 China Technology SG_HK marketing feedback.pdf]] ### JPM-中微公司-688012-26年1季度业绩因非经营性收益而超预期，利润率压力好于悲观预期；维持“增持”评级-20260428.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260506_0742__外资研报__JPM-中微公司-688012-26年1季度业绩因非经营性收益而超预期，利润率压力好于悲观预期；维持“增持”评级-20260428.pdf|JPM-中微公司-688012-26年1季度业绩因非经营性收益而超预期，利润率压力好于悲观预期；维持“增持”评级-20260428.pdf]] #### 预览 [[assets/docs/260506_0742__外资研报__JPM-中微公司-688012-26年1季度业绩因非经营性收益而超预期，利润率压力好于悲观预期；维持“增持”评级-20260428.pdf|JPM-中微公司-688012-26年1季度业绩因非经营性收益而超预期，利润率压力好于悲观预期；维持“增持”评级-20260428.pdf]] ### JPM-中国运动服饰行业：行业格局变化梳理；安踏为我们的首选标的-20260427.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260506_0742__外资研报__JPM-中国运动服饰行业：行业格局变化梳理；安踏为我们的首选标的-20260427.pdf|JPM-中国运动服饰行业：行业格局变化梳理；安踏为我们的首选标的-20260427.pdf]] #### 预览 [[assets/docs/260506_0742__外资研报__JPM-中国运动服饰行业：行业格局变化梳理；安踏为我们的首选标的-20260427.pdf|JPM-中国运动服饰行业：行业格局变化梳理；安踏为我们的首选标的-20260427.pdf]] ### JPM-中国银行业：一季度业绩：净利息收入复苏和净息差反弹超预期~四大行表现优异，股份制银行令人失望 China banks 1Q26 results：NII recovery and NIM rebound surprise to the upside - Big 4 SOE banks outperform, JSBs disappoint.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260506_0742__外资研报__JPM-中国银行业：一季度业绩：净利息收入复苏和净息差反弹超预期~四大行表现优异，股份制银行令人失望 China banks 1Q26 results：NII recovery and NIM rebound surprise to the upside - Big 4 SOE banks outperform,.pdf|JPM-中国银行业：一季度业绩：净利息收入复苏和净息差反弹超预期~四大行表现优异，股份制银行令人失望 China banks 1Q26 results：NII recovery and NIM rebound surprise to the upside - Big 4 SOE banks outperform, JSBs disappoint.pdf]] #### 预览 [[assets/docs/260506_0742__外资研报__JPM-中国银行业：一季度业绩：净利息收入复苏和净息差反弹超预期~四大行表现优异，股份制银行令人失望 China banks 1Q26 results：NII recovery and NIM rebound surprise to the upside - Big 4 SOE banks outperform,.pdf|JPM-中国银行业：一季度业绩：净利息收入复苏和净息差反弹超预期~四大行表现优异，股份制银行令人失望 China banks 1Q26 results：NII recovery and NIM rebound surprise to the upside - Big 4 SOE banks outperform, JSBs disappoint.pdf]]