--- title: "#外资研报" topic_id: 82255221282512842 created_at: 2026-06-15T08:05:33.521+0800 source: zsxq type: topic cssclasses: zsxq-vault --- # #外资研报 - 序号：443 - 星球链接：[打开网页](https://wx.zsxq.com/group/15522451881222/topic/82255221282512842) - 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 ### GS-Block Inc.（XYZ美股）：路演会议纪要要点——Cash App产品动能增强、Square商户拓展加速及裁员增效支撑利润率 BlockInc (XYZZ) Key takeaways from roadshow meetings.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260615_0805__外资研报__GS-Block Inc.（XYZ美股）：路演会议纪要要点——Cash App产品动能增强、Square商户拓展加速及裁员增效支撑利润率 BlockInc (XYZZ) Key takeaways from roadshow meetings.pdf|GS-Block Inc.（XYZ美股）：路演会议纪要要点——Cash App产品动能增强、Square商户拓展加速及裁员增效支撑利润率 BlockInc (XYZZ) Key takeaways from roadshow meetings.pdf]] #### 预览 [[assets/docs/260615_0805__外资研报__GS-Block Inc.（XYZ美股）：路演会议纪要要点——Cash App产品动能增强、Square商户拓展加速及裁员增效支撑利润率 BlockInc (XYZZ) Key takeaways from roadshow meetings.pdf|GS-Block Inc.（XYZ美股）：路演会议纪要要点——Cash App产品动能增强、Square商户拓展加速及裁员增效支撑利润率 BlockInc (XYZZ) Key takeaways from roadshow meetings.pdf]] ### GS-百济神州（BeOne Medicines, 688235.SH ONC）：第47届高盛全球医疗健康大会——核心要点纪要 BeOne Medicines (ONC_688235.SS) 47th Annual Global Healthcare Conference — Key Takeaways.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260615_0805__外资研报__GS-百济神州（BeOne Medicines, 688235.SH ONC）：第47届高盛全球医疗健康大会——核心要点纪要 BeOne Medicines (ONC_688235.SS) 47th Annual Global Healthcare Conference — Key Takeaways.pdf|GS-百济神州（BeOne Medicines, 688235.SH ONC）：第47届高盛全球医疗健康大会——核心要点纪要 BeOne Medicines (ONC_688235.SS) 47th Annual Global Healthcare Conference — Key Takeaways.pdf]] #### 预览 [[assets/docs/260615_0805__外资研报__GS-百济神州（BeOne Medicines, 688235.SH ONC）：第47届高盛全球医疗健康大会——核心要点纪要 BeOne Medicines (ONC_688235.SS) 47th Annual Global Healthcare Conference — Key Takeaways.pdf|GS-百济神州（BeOne Medicines, 688235.SH ONC）：第47届高盛全球医疗健康大会——核心要点纪要 BeOne Medicines (ONC_688235.SS) 47th Annual Global Healthcare Conference — Key Takeaways.pdf]] ### GS-保时捷汽车（Porsche AG, P911_p.DE）：上调至买入——ASP提升与成本优化部分抵消近期逆风，秋季资本市场日前的更清晰多年EPS复苏路径支撑估值上行 Porsche AG (P911_p.DE) Upgrade to Buy ASP and cost benefits partially offset near-term headwinds ahead of Autumn CMD; clearer path to mult....pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260615_0805__外资研报__GS-保时捷汽车（Porsche AG, P911_p.DE）：上调至买入——ASP提升与成本优化部分抵消近期逆风，秋季资本市场日前的更清晰多年EPS复苏路径支撑估值上行 Porsche AG (P911_p.DE) Upgrade to Buy ASP and cost benefits partially o.pdf|GS-保时捷汽车（Porsche AG, P911_p.DE）：上调至买入——ASP提升与成本优化部分抵消近期逆风，秋季资本市场日前的更清晰多年EPS复苏路径支撑估值上行 Porsche AG (P911_p.DE) Upgrade to Buy ASP and cost benefits partially offset near-term headwinds ahead of Autumn CMD; clearer path to mult....pdf]] #### 预览 [[assets/docs/260615_0805__外资研报__GS-保时捷汽车（Porsche AG, P911_p.DE）：上调至买入——ASP提升与成本优化部分抵消近期逆风，秋季资本市场日前的更清晰多年EPS复苏路径支撑估值上行 Porsche AG (P911_p.DE) Upgrade to Buy ASP and cost benefits partially o.pdf|GS-保时捷汽车（Porsche AG, P911_p.DE）：上调至买入——ASP提升与成本优化部分抵消近期逆风，秋季资本市场日前的更清晰多年EPS复苏路径支撑估值上行 Porsche AG (P911_p.DE) Upgrade to Buy ASP and cost benefits partially offset near-term headwinds ahead of Autumn CMD; clearer path to mult....pdf]] ### GS-东丽工业（3402.T）——IR说明会第二天：航天防务碳纤维复材及AI材料（MLCCDFR薄膜、薄膜电感线圈）增长潜力；维持买入 Toray Industries (3402.T) IR Day 2 Growth potential in carbon fiber composite materials for aerospace_defense, and AI materials such as MLCC_DFR films, thin....pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260615_0805__外资研报__GS-东丽工业（3402.T）——IR说明会第二天：航天防务碳纤维复材及AI材料（MLCCDFR薄膜、薄膜电感线圈）增长潜力；维持买入 Toray Industries (3402.T) IR Day 2 Growth potential in carbon fiber composite materials f.pdf|GS-东丽工业（3402.T）——IR说明会第二天：航天防务碳纤维复材及AI材料（MLCCDFR薄膜、薄膜电感线圈）增长潜力；维持买入 Toray Industries (3402.T) IR Day 2 Growth potential in carbon fiber composite materials for aerospace_defense, and AI materials such as MLCC_DFR films, thin....pdf]] #### 预览 [[assets/docs/260615_0805__外资研报__GS-东丽工业（3402.T）——IR说明会第二天：航天防务碳纤维复材及AI材料（MLCCDFR薄膜、薄膜电感线圈）增长潜力；维持买入 Toray Industries (3402.T) IR Day 2 Growth potential in carbon fiber composite materials f.pdf|GS-东丽工业（3402.T）——IR说明会第二天：航天防务碳纤维复材及AI材料（MLCCDFR薄膜、薄膜电感线圈）增长潜力；维持买入 Toray Industries (3402.T) IR Day 2 Growth potential in carbon fiber composite materials for aerospace_defense, and AI materials such as MLCC_DFR films, thin....pdf]] ### GS-厄尔尼诺：全球作物风险有限-软商品暴露大-20260612.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260615_0805__外资研报__GS-厄尔尼诺：全球作物风险有限-软商品暴露大-20260612.pdf|GS-厄尔尼诺：全球作物风险有限-软商品暴露大-20260612.pdf]] #### 预览 [[assets/docs/260615_0805__外资研报__GS-厄尔尼诺：全球作物风险有限-软商品暴露大-20260612.pdf|GS-厄尔尼诺：全球作物风险有限-软商品暴露大-20260612.pdf]] ### GS-富途控股（FUTU.US）——监管明朗化偏正面，但非内地账户增长是估值持续修复的关键；维持中性 Futu Holdings (FUTU) Regulatory Clarity a Net Positive, but Non-Mainland Growth Key for Sustained Valuation Recovery.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260615_0805__外资研报__GS-富途控股（FUTU.US）——监管明朗化偏正面，但非内地账户增长是估值持续修复的关键；维持中性 Futu Holdings (FUTU) Regulatory Clarity a Net Positive, but Non-Mainland Growth Key for Sustained Valuatio.pdf|GS-富途控股（FUTU.US）——监管明朗化偏正面，但非内地账户增长是估值持续修复的关键；维持中性 Futu Holdings (FUTU) Regulatory Clarity a Net Positive, but Non-Mainland Growth Key for Sustained Valuation Recovery.pdf]] #### 预览 [[assets/docs/260615_0805__外资研报__GS-富途控股（FUTU.US）——监管明朗化偏正面，但非内地账户增长是估值持续修复的关键；维持中性 Futu Holdings (FUTU) Regulatory Clarity a Net Positive, but Non-Mainland Growth Key for Sustained Valuatio.pdf|GS-富途控股（FUTU.US）——监管明朗化偏正面，但非内地账户增长是估值持续修复的关键；维持中性 Futu Holdings (FUTU) Regulatory Clarity a Net Positive, but Non-Mainland Growth Key for Sustained Valuation Recovery.pdf]] ### GS-高盛2020-2021年重演，碳酸锂四季度或冲击25万元 China Lithium consultant call feedback：Market tightness seen building into 4Q26 on strengthening ESS demand, lagged supply growth, and restocking; Carbonate prices may peak at ~RMB250k_t.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260615_0805__外资研报__GS-高盛2020-2021年重演，碳酸锂四季度或冲击25万元 China Lithium consultant call feedback：Market tightness seen building into 4Q26 on strengthening ESS demand, lagged supply gr.pdf|GS-高盛2020-2021年重演，碳酸锂四季度或冲击25万元 China Lithium consultant call feedback：Market tightness seen building into 4Q26 on strengthening ESS demand, lagged supply growth, and restocking; Carbonate prices may peak at ~RMB250k_t.pdf]] #### 预览 [[assets/docs/260615_0805__外资研报__GS-高盛2020-2021年重演，碳酸锂四季度或冲击25万元 China Lithium consultant call feedback：Market tightness seen building into 4Q26 on strengthening ESS demand, lagged supply gr.pdf|GS-高盛2020-2021年重演，碳酸锂四季度或冲击25万元 China Lithium consultant call feedback：Market tightness seen building into 4Q26 on strengthening ESS demand, lagged supply growth, and restocking; Carbonate prices may peak at ~RMB250k_t.pdf]] ### GS-华润微（688396.SS）——切入AI服务器电源与光模块领域，12英寸产能持续爬坡；上调目标价，维持卖出评级 CRMicro (688396.SS) Expanding to AI server power supply and optical module with 12“ capacity ramping up.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260615_0805__外资研报__GS-华润微（688396.SS）——切入AI服务器电源与光模块领域，12英寸产能持续爬坡；上调目标价，维持卖出评级 CRMicro (688396.SS) Expanding to AI server power supply and optical module with 12“ capacity rampi.pdf|GS-华润微（688396.SS）——切入AI服务器电源与光模块领域，12英寸产能持续爬坡；上调目标价，维持卖出评级 CRMicro (688396.SS) Expanding to AI server power supply and optical module with 12“ capacity ramping up.pdf]] #### 预览 [[assets/docs/260615_0805__外资研报__GS-华润微（688396.SS）——切入AI服务器电源与光模块领域，12英寸产能持续爬坡；上调目标价，维持卖出评级 CRMicro (688396.SS) Expanding to AI server power supply and optical module with 12“ capacity rampi.pdf|GS-华润微（688396.SS）——切入AI服务器电源与光模块领域，12英寸产能持续爬坡；上调目标价，维持卖出评级 CRMicro (688396.SS) Expanding to AI server power supply and optical module with 12“ capacity ramping up.pdf]] ### Deutsche-比亚迪（BYD, 1211.HK）——二代刀片电池供应瓶颈致提车等待1～2个月；高端品牌5月销量回暖 BYD One to two month waiting times due to Gen-2 Blade Battery supply constraint.pdf - 状态：skipped_existing - 错误： - 本地资源：[[assets/docs/260615_0805__外资研报__Deutsche-比亚迪（BYD, 1211.HK）——二代刀片电池供应瓶颈致提车等待1～2个月；高端品牌5月销量回暖 BYD One to two month waiting times due to Gen-2 Blade Battery supply constraint.pdf|Deutsche-比亚迪（BYD, 1211.HK）——二代刀片电池供应瓶颈致提车等待1～2个月；高端品牌5月销量回暖 BYD One to two month waiting times due to Gen-2 Blade Battery supply constraint.pdf]] #### 预览 [[assets/docs/260615_0805__外资研报__Deutsche-比亚迪（BYD, 1211.HK）——二代刀片电池供应瓶颈致提车等待1～2个月；高端品牌5月销量回暖 BYD One to two month waiting times due to Gen-2 Blade Battery supply constraint.pdf|Deutsche-比亚迪（BYD, 1211.HK）——二代刀片电池供应瓶颈致提车等待1～2个月；高端品牌5月销量回暖 BYD One to two month waiting times due to Gen-2 Blade Battery supply constraint.pdf]]