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附件总结 UBS-泰格医药-300347-快评：2026瑞银A股研讨会，2027年收入增速或高于2026-20260902.pdf

  1. AHyAXHp5pVcUfVaQbPbRnPnNsQrPfQpPxOjMoOnRbRnMtMxNmQnQwMsQoO

UBS-中国互联网：AI下游应用专家电话会议要点-20260918.pdf

  1. We hosted an expert call with a former AI Director at a leading short drama/AI animated +852-3712 3890
  2. The expert noted that Seedance 2.5 currently leads in overall quality and generation +86-21-3866 8912
  3. efficiency (eg, 30s generation, up to 50 multimodal references, and 4K output), while Wei Xiong
  4. model selection is driven by quality, efficiency, and cost. Premium content favors S1460518100005
  5. receptive to lower-cost alternatives to optimise ROI. Although Seedance is priced higher +86-21-3866 8883
  6. This report has been prepared by UBS Securities Asia Limited. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES,
  7. including information on the Quantitative Research Review published by UBS, begin on page 4.
  8. We believe key sector risks include: 1) an evolving competitive landscape and intensifying

UBS-中国中免-601888-2026瑞银A股研讨会：利润率有望持续改善-20260902.pdf

  1. 1IRHYEm2pV9ZbZ8OcM9PmOnNtRpRiNmMxOfQnNrN9PnMpRxNoOmQvPqQmR

UBS-中远海控-601919-快评：业绩符合预期，高运价或支撑三季度利润-20260901.pdf

  1. 4FOEXHo4qWcUbZ6McM9PnPmMmOtNiNnNxOlOoOnR9PpOpRxNpMrRuOmNoR

UBS-美国加息对中国股市的影响-20260918.pdf

  1. 2015/16 was impacted by share market deleveraging while 2022 benefitted from re- Strategist
  2. opening). A-share market tends to be less impacted vs the H-shares given the latter S1460517080001
  3. attractive vs other regions (see Sunil's note here) given:1) lower reliance on oil for energy
  4. This report has been prepared by UBS Securities Asia Limited. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES,
  5. including information on the Quantitative Research Review published by UBS, begin on page 8.
  6. Figure 6: Corelation of US 10Y yield with different market Figure 7: Rolling 2Y correlation of MSCI China and US 10Y
  7. Source: UBS estimates. Note: Numbers are revenue weighted. Sectors with no US exposure are not shown. This is based on a previous UBS analyst survey that we have
  8. Figure 11: Subsector performance relative to MSCI China during different phases of previous rate hike cycles

UBS-诺德股份-600110-快评：2026瑞银A股研讨会，锂电铜箔盈利逐步修复，高端电子箔业务持续推进-20260902.pdf

  1. AHQGZFm2rXeWbZ7N9R6MoMrRtRoQeRrRzQkPqQrNbRnMpRvPpMmMwMoMnQ

UBS-鹏鼎控股-002938-快评：2026瑞银A股研讨会，扩产规划清晰-20260902.pdf

  1. 0JzBZFjBtZ9ZfV9PdN6MsQrRsQtNlOmMvMlOpPmQaQnMrOwMsOqNuOtRrR

文档

UBS-泰格医药-300347-快评：2026瑞银A股研讨会，2027年收入增速或高于2026-20260902.pdf

总结

  1. AHyAXHp5pVcUfVaQbPbRnPnNsQrPfQpPxOjMoOnRbRnMtMxNmQnQwMsQoO

预览

UBS-泰格医药-300347-快评：2026瑞银A股研讨会，2027年收入增速或高于2026-20260902.pdf

UBS-中国互联网：AI下游应用专家电话会议要点-20260918.pdf

总结

  1. We hosted an expert call with a former AI Director at a leading short drama/AI animated +852-3712 3890
  2. The expert noted that Seedance 2.5 currently leads in overall quality and generation +86-21-3866 8912
  3. efficiency (eg, 30s generation, up to 50 multimodal references, and 4K output), while Wei Xiong
  4. model selection is driven by quality, efficiency, and cost. Premium content favors S1460518100005
  5. receptive to lower-cost alternatives to optimise ROI. Although Seedance is priced higher +86-21-3866 8883
  6. This report has been prepared by UBS Securities Asia Limited. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES,
  7. including information on the Quantitative Research Review published by UBS, begin on page 4.
  8. We believe key sector risks include: 1) an evolving competitive landscape and intensifying

预览

UBS-中国互联网：AI下游应用专家电话会议要点-20260918.pdf

UBS-中国中免-601888-2026瑞银A股研讨会：利润率有望持续改善-20260902.pdf

总结

  1. 1IRHYEm2pV9ZbZ8OcM9PmOnNtRpRiNmMxOfQnNrN9PnMpRxNoOmQvPqQmR

预览

UBS-中国中免-601888-2026瑞银A股研讨会：利润率有望持续改善-20260902.pdf

UBS-中远海控-601919-快评：业绩符合预期，高运价或支撑三季度利润-20260901.pdf

总结

  1. 4FOEXHo4qWcUbZ6McM9PnPmMmOtNiNnNxOlOoOnR9PpOpRxNpMrRuOmNoR

预览

UBS-中远海控-601919-快评：业绩符合预期，高运价或支撑三季度利润-20260901.pdf

ZeroHedge-Sell 债券，买GPU：信用市场发出警告，而波动率市场却保持平静 Selling Bonds To Buy GPUs Credit Is Flashing A Warning While Vol Sleeps ZeroH.pdf

预览

ZeroHedge-Sell 债券，买GPU：信用市场发出警告，而波动率市场却保持平静 Selling Bonds To Buy GPUs Credit Is Flashing A Warning While Vol Sleeps ZeroH.pdf

伯恩斯坦-网络安全：情绪过热……板块估值已打满？+20260917.pdf

预览

伯恩斯坦-网络安全：情绪过热……板块估值已打满？+20260917.pdf

UBS-美国加息对中国股市的影响-20260918.pdf

总结

  1. 2015/16 was impacted by share market deleveraging while 2022 benefitted from re- Strategist
  2. opening). A-share market tends to be less impacted vs the H-shares given the latter S1460517080001
  3. attractive vs other regions (see Sunil's note here) given:1) lower reliance on oil for energy
  4. This report has been prepared by UBS Securities Asia Limited. ANALYST CERTIFICATION AND REQUIRED DISCLOSURES,
  5. including information on the Quantitative Research Review published by UBS, begin on page 8.
  6. Figure 6: Corelation of US 10Y yield with different market Figure 7: Rolling 2Y correlation of MSCI China and US 10Y
  7. Source: UBS estimates. Note: Numbers are revenue weighted. Sectors with no US exposure are not shown. This is based on a previous UBS analyst survey that we have
  8. Figure 11: Subsector performance relative to MSCI China during different phases of previous rate hike cycles

预览

UBS-美国加息对中国股市的影响-20260918.pdf

UBS-诺德股份-600110-快评：2026瑞银A股研讨会，锂电铜箔盈利逐步修复，高端电子箔业务持续推进-20260902.pdf

总结

  1. AHQGZFm2rXeWbZ7N9R6MoMrRtRoQeRrRzQkPqQrNbRnMpRvPpMmMwMoMnQ

预览

UBS-诺德股份-600110-快评：2026瑞银A股研讨会，锂电铜箔盈利逐步修复，高端电子箔业务持续推进-20260902.pdf

UBS-鹏鼎控股-002938-快评：2026瑞银A股研讨会，扩产规划清晰-20260902.pdf

总结

  1. 0JzBZFjBtZ9ZfV9PdN6MsQrRsQtNlOmMvMlOpPmQaQnMrOwMsOqNuOtRrR

预览

UBS-鹏鼎控股-002938-快评：2026瑞银A股研讨会，扩产规划清晰-20260902.pdf

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