--- title: "#外资研报" topic_id: 14422442551212552 created_at: 2026-06-12T08:20:04.710+0800 source: zsxq type: topic cssclasses: zsxq-vault --- # #外资研报 - 序号：346 - 星球链接：[打开网页](https://wx.zsxq.com/group/15522451881222/topic/14422442551212552) - 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-胜宏科技 - H：AI 热潮驱动的 PCB 价值增长周期的关键受益者；首次覆盖给予 OW 评级 Victory Giant Technology - H Key beneficiary amid PCB content value growth cycle driven by AI boom; initiate at OW.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260612_0820__外资研报__JPM-胜宏科技 - H：AI 热潮驱动的 PCB 价值增长周期的关键受益者；首次覆盖给予 OW 评级 Victory Giant Technology - H Key beneficiary amid PCB content value growth cycle driven by AI boom; initi.pdf|JPM-胜宏科技 - H：AI 热潮驱动的 PCB 价值增长周期的关键受益者；首次覆盖给予 OW 评级 Victory Giant Technology - H Key beneficiary amid PCB content value growth cycle driven by AI boom; initiate at OW.pdf]] #### 预览 [[assets/docs/260612_0820__外资研报__JPM-胜宏科技 - H：AI 热潮驱动的 PCB 价值增长周期的关键受益者；首次覆盖给予 OW 评级 Victory Giant Technology - H Key beneficiary amid PCB content value growth cycle driven by AI boom; initi.pdf|JPM-胜宏科技 - H：AI 热潮驱动的 PCB 价值增长周期的关键受益者；首次覆盖给予 OW 评级 Victory Giant Technology - H Key beneficiary amid PCB content value growth cycle driven by AI boom; initiate at OW.pdf]] ### JPM-香港地产行业——旧忧未散，新忧又至 Hong Kong Property After one overhang, here comes another one.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260612_0820__外资研报__JPM-香港地产行业——旧忧未散，新忧又至 Hong Kong Property After one overhang, here comes another one.pdf|JPM-香港地产行业——旧忧未散，新忧又至 Hong Kong Property After one overhang, here comes another one.pdf]] #### 预览 [[assets/docs/260612_0820__外资研报__JPM-香港地产行业——旧忧未散，新忧又至 Hong Kong Property After one overhang, here comes another one.pdf|JPM-香港地产行业——旧忧未散，新忧又至 Hong Kong Property After one overhang, here comes another one.pdf]] ### JPM-中国金属行业动态追踪：铜消费持续走弱，铝需求回暖 China Metals Activity Tracker Copper consumption continues to slow, aluminum picks up.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260612_0820__外资研报__JPM-中国金属行业动态追踪：铜消费持续走弱，铝需求回暖 China Metals Activity Tracker Copper consumption continues to slow, aluminum picks up.pdf|JPM-中国金属行业动态追踪：铜消费持续走弱，铝需求回暖 China Metals Activity Tracker Copper consumption continues to slow, aluminum picks up.pdf]] #### 预览 [[assets/docs/260612_0820__外资研报__JPM-中国金属行业动态追踪：铜消费持续走弱，铝需求回暖 China Metals Activity Tracker Copper consumption continues to slow, aluminum picks up.pdf|JPM-中国金属行业动态追踪：铜消费持续走弱，铝需求回暖 China Metals Activity Tracker Copper consumption continues to slow, aluminum picks up.pdf]] ### Morgan Stanley-Fed Policy Stance： Implications for China-260610.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260612_0820__外资研报__Morgan Stanley-Fed Policy Stance： Implications for China-260610.pdf|Morgan Stanley-Fed Policy Stance： Implications for China-260610.pdf]] #### 预览 [[assets/docs/260612_0820__外资研报__Morgan Stanley-Fed Policy Stance： Implications for China-260610.pdf|Morgan Stanley-Fed Policy Stance： Implications for China-260610.pdf]] ### MS-Cerebras Systems_北美：快速推理领域的独特能力带来巨大经济机遇；首次覆盖给予 OW 评级 Cerebras Systems North America Unique capability in fast inference drives large economic opportunity; Initiate at OW.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260612_0820__外资研报__MS-Cerebras Systems_北美：快速推理领域的独特能力带来巨大经济机遇；首次覆盖给予 OW 评级 Cerebras Systems North America Unique capability in fast inference drives large economic opportunity;.pdf|MS-Cerebras Systems_北美：快速推理领域的独特能力带来巨大经济机遇；首次覆盖给予 OW 评级 Cerebras Systems North America Unique capability in fast inference drives large economic opportunity; Initiate at OW.pdf]] #### 预览 [[assets/docs/260612_0820__外资研报__MS-Cerebras Systems_北美：快速推理领域的独特能力带来巨大经济机遇；首次覆盖给予 OW 评级 Cerebras Systems North America Unique capability in fast inference drives large economic opportunity;.pdf|MS-Cerebras Systems_北美：快速推理领域的独特能力带来巨大经济机遇；首次覆盖给予 OW 评级 Cerebras Systems North America Unique capability in fast inference drives large economic opportunity; Initiate at OW.pdf]] ### MS-存储器健康回调-20260611.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260612_0820__外资研报__MS-存储器健康回调-20260611.pdf|MS-存储器健康回调-20260611.pdf]] #### 预览 [[assets/docs/260612_0820__外资研报__MS-存储器健康回调-20260611.pdf|MS-存储器健康回调-20260611.pdf]] ### GS-中国金融服务行业调研总结 CHINA FINANCIAL SERVICES Trip Takeaways：Banks Shift to Defensive Balance Sheet Management; Prefer Brokers on HK ROE and AI Theme; FUTU’s Valuation Undemanding but AUM Growth Key to Watch.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260612_0820__外资研报__GS-中国金融服务行业调研总结 CHINA FINANCIAL SERVICES Trip Takeaways：Banks Shift to Defensive Balance Sheet Management; Prefer Brokers on HK ROE and AI Theme; FUTU’s Valu.pdf|GS-中国金融服务行业调研总结 CHINA FINANCIAL SERVICES Trip Takeaways：Banks Shift to Defensive Balance Sheet Management; Prefer Brokers on HK ROE and AI Theme; FUTU’s Valuation Undemanding but AUM Growth Key to Watch.pdf]] #### 预览 [[assets/docs/260612_0820__外资研报__GS-中国金融服务行业调研总结 CHINA FINANCIAL SERVICES Trip Takeaways：Banks Shift to Defensive Balance Sheet Management; Prefer Brokers on HK ROE and AI Theme; FUTU’s Valu.pdf|GS-中国金融服务行业调研总结 CHINA FINANCIAL SERVICES Trip Takeaways：Banks Shift to Defensive Balance Sheet Management; Prefer Brokers on HK ROE and AI Theme; FUTU’s Valuation Undemanding but AUM Growth Key to Watch.pdf]] ### GS-中国与日本工程机械出口追踪——2026年4月更新：发达市场需求加速（受中国出口激增拉动）；新兴市场经济体走势分化 CHINA AND JAPAN MACHINERY EXPORT TRACKER Apr 2026 update DM accelerated on strong China exports; mixed EM trends.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260612_0820__外资研报__GS-中国与日本工程机械出口追踪——2026年4月更新：发达市场需求加速（受中国出口激增拉动）；新兴市场经济体走势分化 CHINA AND JAPAN MACHINERY EXPORT TRACKER Apr 2026 update DM accelerated on strong China exports;.pdf|GS-中国与日本工程机械出口追踪——2026年4月更新：发达市场需求加速（受中国出口激增拉动）；新兴市场经济体走势分化 CHINA AND JAPAN MACHINERY EXPORT TRACKER Apr 2026 update DM accelerated on strong China exports; mixed EM trends.pdf]] #### 预览 [[assets/docs/260612_0820__外资研报__GS-中国与日本工程机械出口追踪——2026年4月更新：发达市场需求加速（受中国出口激增拉动）；新兴市场经济体走势分化 CHINA AND JAPAN MACHINERY EXPORT TRACKER Apr 2026 update DM accelerated on strong China exports;.pdf|GS-中国与日本工程机械出口追踪——2026年4月更新：发达市场需求加速（受中国出口激增拉动）；新兴市场经济体走势分化 CHINA AND JAPAN MACHINERY EXPORT TRACKER Apr 2026 update DM accelerated on strong China exports; mixed EM trends.pdf]] ### JPM-CPO担忧过度致光模块回调-重申超配-20260611.pdf - 状态：downloaded - 错误： - 本地资源：[[assets/docs/260612_0820__外资研报__JPM-CPO担忧过度致光模块回调-重申超配-20260611.pdf|JPM-CPO担忧过度致光模块回调-重申超配-20260611.pdf]] #### 预览 [[assets/docs/260612_0820__外资研报__JPM-CPO担忧过度致光模块回调-重申超配-20260611.pdf|JPM-CPO担忧过度致光模块回调-重申超配-20260611.pdf]]