reports
- Benjaphol Suthwanish
- Kasemsun Koonnara
- Thanawat Thangchadakorn
Thailand Daily - Friday, January 30, 2026
Top Stories Company Update | Airports of Thailand (AOT TB/HOLD/Bt52.25/Target: Bt55.00) AOT is expected to post weak 1QFY26 earnings, with a net profit of Bt4.2b, down yoy but up qoq, mainly due to a sharp drop in concession revenue following the new KPD agreement, despite strong passenger and flight growth. Margins are set to decline yoy. The PSC hike has been halted and may be delayed to FY27. While the KPD overhang is resolved, valuation upside is limited. Downgrade to HOLD with a target pr...
- Thanawat Thangchadakorn
TMBThanachart Bank (TTB TB) - Selective Loan Growth In Challenging Seg...
Company Update | TMBThanachart Bank (TTB TB/HOLD/Bt2.04/Target: Bt2.06) We attended TTB’s 4Q25 analyst meeting and the tone was slightly negative. TTB will resume growing selected segments of its SME loan portfolio. The bank targets 2026 NIM of 3.0-3.1%, supported by high-yield loans and a shift in the deposit mix whereas credit cost is targeted at 130-135bp. The remaining tax benefit of Bt5.7b is to be realised within 2027. Maintain HOLD with a lower target price of Bt2.06.
- Tanapon Cholkadidamrongkul
- Thanawat Thangchadakorn
Thailand Daily - Friday, January 23, 2026
Top Stories Sector Update | Banking Banks under our coverage reported a combined net profit of Bt47.6b, down 9% yoy and 23% qoq, missing our expectation by 8% and the market's estimate by 7%. The key reason for the miss was a sharp drop in investment gains qoq. Moreover, investment gains will no longer support the bottom line from now on. Banks are looking to maintain a prudent approach to keeping asset quality resilient. Maintain MARKET WEIGHT. Our top pick is KTB. Company Update | COM7 (CO...
- Audrey Celia
- Bella Lu Yifei
- Chong Lee Len
- Damon Shen
- Heidi Mo Jinghui
- HIFZHAN RAZIQ BIN HARIS FADZLAN
- Jieqi Liu
- John Cheong Ming Chern
- Kai Jie Tang
- Ken Lee
- Philip Wong
- Suryaputra Wijaksana
- Tanapon Cholkadidamrongkul
- Thanawat Thangchadakorn
- Willinoy Sitorus
Regional Morning Meeting Notes: Friday, January 23, 2026
Greater China Sector Update | Automobile 12 Chinese automakers set ambitious targets for 2026. Despite weak sales from 1-18 January, we maintain our PV sales forecast of 30.4m units (+3% yoy), driven by exports and EVs. Policy shifts in the EU and Canada are creating a more favourable environment for Chinese EV exports, supporting overseas growth. Maintain MARKET WEIGHT. Top BUYs: CATL, Ganfeng Lithium, Minth and Geely. Top SELL: Li Auto. Company Update | Longfor Group Holdings (960 HK/BUY/HK$...
- Thanawat Thangchadakorn
TMBThanachart Bank (TTB TB) - 4Q25: Results Beat; Continued Asset Qual...
Company Results | TMBThanachart (TTB TB/HOLD/Bt2.04/Target: Bt2.12) TTB posted 4Q25 net profit of Bt5.24b (+3% yoy, -1% qoq). The results beat our and consensus forecasts by 6% and 7% respectively. Loan portfolio contracted 3% yoy but expanded 0.6% qoq. The company set aside provisions of Bt3.63b, including a management overlay of Bt996m. Credit costs continued to decline 11bp qoq to 120bp. TTB still has a remaining tax benefit of Bt5.7b. Maintain HOLD with a higher target price of Bt2.12.
- Adrian Loh Tzum Yung
- Benjaphol Suthwanish
- Claire Wang Kelai
- Damon Shen
- Ejann Hiew
- Jieqi Liu
- Kong Ho Meng
- Malaysia Research Team
- Posmarito Pakpahan
- Shirley Wang Xueyi
- Stella Guo Yuting
- Tanapon Cholkadidamrongkul
- Tanaporn Visaruthaphong
- Thanawat Thangchadakorn
- Ziv Ang Sze Champ
Regional Morning Meeting Notes: Wednesday, January 21, 2026
Greater China Company Update | Anta Sports (2020 HK/BUY/HK$82.55/Target: HK$103.40) In 4Q25, the Anta brand’s retail sales missed expectations, recording a low single-digit decline. In contrast, Fila achieved mid-single-digit growth, accelerating from low single-digit growth in 3Q25, and all other brands continued to demonstrate robust growth at 35-40%. For 2026, management expects group-level operating margin to face pressure due to the need for sustained investment in both the Anta brand and F...
AS7 ANTA SPORTS PRODUCTS LTD.
00688 CHINA OVERSEAS LAND & INVESTMENT LIMITED
BBL BANGKOK BANK PUBLIC COMPANY LIMITED
C09 CITY DEVELOPMENTS LIMITED
3993 CHINA MOLYBDENUM CO. LTD. CLASS H
TMB TMB BANK PUBLIC COMPANY LIMITED
PTTGC PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
YNS YINSON HOLDINGS BHD
- Benjaphol Suthwanish
- Tanapon Cholkadidamrongkul
- Tanaporn Visaruthaphong
- Thanawat Thangchadakorn
Thailand Daily - Wednesday, January 21, 2026
Top Stories Company Results | Bangkok Bank (BBL TB/SELL/Bt170.50/Target: Bt140.00) BBL posted a 4Q25 net profit of Bt7.76b, -25% yoy and -44% qoq. The results missed both our and consensus expectations by 27% due to a large reduction in investment gain and higher-than-expected opex. We expect no further material investment gains in the future. BBL attributed the jump in opex to the accrued expenses for consulting and numerous investment projects. Downgrade to SELL with a lower target price of B...
- Andrew Agita Buntoro
- Chong Lee Len
- Colin Lee
- Damon Shen
- Ejann Hiew
- Greater China Research Team
- Jieqi Liu
- Johnny Yum Chung Man
- Jonathan Koh
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Philip Wong
- Suryaputra Wijaksana
- Thailand Research Team
- Thanawat Thangchadakorn
- Willinoy Sitorus
Regional Morning Meeting Notes: Tuesday, January 06, 2026
Greater China Strategy | Alpha Picks: January Conviction Calls Chinese equities remained in consolidation through December, with the HSI and MSCI China down 0.9% mom and 1.5% mom, respectively, despite last week’s window dressing narrowing losses. Policy signals from the Economic Work Conference broadly met expectations. Looking ahead, we are constructive on 1Q26, supported by a favourable global liquidity cycle and potential macro supportive measures in China. We retain most of our December...
KTC KRUNGTHAI CARD PCL
KKP KIATNAKIN BANK
00688 CHINA OVERSEAS LAND & INVESTMENT LIMITED
00823 LINK REAL ESTATE INVESTMENT TRUST
BBL BANGKOK BANK PUBLIC COMPANY LIMITED
01109 CHINA RESOURCES LAND LIMITED
00388 HONG KONG EXCHANGES & CLEARING LTD.
SXC SUNNY OPTICAL TECHNOLOGY (GROUP) CO. LTD.
00285 BYD ELECTRONIC (INTERNATIONAL) CO. LTD.
TISCO TISCO FINANCIAL GROUP
SCNR SUNAC CHINA HOLDINGS LTD.
RLF LONGFOR GROUP HOLDINGS LTD.
IVL INDORAMA VENTURES PUBLIC CO. LTD.
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
TMB TMB BANK PUBLIC COMPANY LIMITED
KBANK KASIKORNBANK PUBLIC CO. LTD.
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
PTTEP PTT EXPLORATION & PRODUCTION PLC
ERAA ERAJAYA SWASEMBADA
PTTGC PTT GLOBAL CHEMICAL PUBLIC COMPANY LTD
000333 MIDEA GROUP CO. LTD. CLASS A
PDD PINDUODUO INC. SPONSORED ADR CLASS A
RATCH RATCH GROUP PUBLIC CO. LTD.
KTB KONTOOR BRANDS
09999 NETEASE INC
SCGP SCG PACKAGING PCL
LREIT SP LENDLEASE GLOBAL COMMERCIAL REIT
2269 WUXI BIOLOGICS (CAYMAN) INC.
OR PTT OIL AND RETAIL BUSINESS PUBLIC CO LIMITED
06160 BEIGENE LTD.
09888 BAIDU INC
SCB SCB X PUBLIC COMPANY LIMITED
DCRU DIGITAL CORE REIT MANAGEMENT PTE. LTD.
CDB CELCOMDIGI BHD
1523 PLOVER BAY TECHNOLOGIES LTD (1523 HK)
ECOSHOP MK ECO-SHOP MARKETING BHD
002371 CH NAURA TECHNOLOGY GROUP CO LTD
- Thanawat Thangchadakorn
TMBThanachart Bank (TTB TB) - 4Q25 Results Preview: Muted Loan Growth ...
Company Update | TMBThanachart Bank (TTB TB/HOLD/Bt2.04/Target: Bt2.04) We expect TTB to post 4Q25 net profit of Bt4.88b (-5% yoy, -8% qoq). Loan growth and NIM remain challenging and are expected to be muted and miss the company’s 2025 target. We foresee the company maintaining its focus on asset quality with higher provision. Maintain HOLD. Target price: Bt2.04.
- Thanawat Thangchadakorn
Thailand Daily: Monday, January 05, 2026
Top Stories Company Update | TISCO Financial Group (TISCO TB/HOLD/Bt110.00/Target: Bt105.00) We expect TISCO to report a 4Q25 net profit of Bt1.6b, down 6% yoy and 7% qoq. We expect TISCO’s loan portfolio to be flat yoy and grow 1% qoq in 4Q25 due to the seasonal high loan demand during the festive season and the new year. We expect the loan portfolio to be flat in 2025, and expect credit costs to decline qoq in 4Q25. Maintain HOLD. Target price: Bt105.00. Company Update | TMBThanachart Bank ...
- Adrian Loh Tzum Yung
- Chong Lee Len
- Colin Lee
- Desmond Chong Chee Wai
- Ejann Hiew
- Johnny Yum
- Johnny Yum Chung Man
- Malaysia Research Team
- Singapore Research Team
- Suryaputra Wijaksana
- Thanawat Thangchadakorn
- Vincent Khoo Boo Aik
Regional Morning Meeting Notes: Monday, January 05, 2026
Greater China Sector Update | IT Hardware We see an acceleration in China’s AI development progress in 2026, with NVIDIA successfully obtaining the US government’s approval on H200 sales to China, which will provide a major boost to the Chinese the AI application users. We also believe that the shipment volume of domestic AI chips will receive minimal impact, with foreign chips acting as a “demand gap filler” while the establishment of a capable local supply chain remains the highest priorit...
ASM PACIFIC TECHNOLOGY LIMITED
544 CSE GLOBAL LTD.
C09 CITY DEVELOPMENTS LIMITED
BN2 ENERGI MEGA PERSADA
TISCO VALUETRONICS HOLDINGS
JPFA TISCO FINANCIAL GROUP
TMB JAPFA COMFEED INDONESIA
5347 TMB BANK PUBLIC COMPANY LIMITED
BBCA TENAGA NASIONAL BHD
O39 PT BANK CENTRAL ASIA TBK
BN4 OVERSEA-CHINESE BANKING CORPORATION LIMITED
TLKM KEPPEL CORPORATION LIMITED
SE PT TELKOM INDONESIA (PERSERO) TBK CLASS B
D01 SEA ADS
01810 DAIRY FARM INTERNATIONAL HOLDINGS LIMITED
G13 XIAOMI CORP. CLASS B
YNS GENTING SINGAPORE LIMITED
RHBBANK YINSON HOLDINGS BHD
MLK RHB BANK BHD
VSI MALAKOFF CORP BHD
BURSA V.S. INDUSTRY BERHAD
GMB BURSA MALAYSIA BHD
0763 GAS MALAYSIA BHD
FEH ZTE CORPORATION CLASS H
601138 FOOD EMPIRE HOLDINGS LTD
9CI FOXCONN INDUSTRIAL INTERNET CO. LTD. CLASS A
CLAR CAPITALAND INVESTMENT LTD
MDKA CAPITALAND ASCENDAS REIT
NCKL MERDEKA COPPER GOLD TBK PT
IOIPG PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
0303 IOI PROPERTIES GROUP BHD
LAGENDA ALPHA IVF GROUP
PEKAT LAGENDA PROPERTIES BHD
HRUM PEKAT GROUP BHD
ZETRIX MK HARUM ENERGY TBK PT
ARCI IJ ZETRIX AI (ZETRIX MK)
002371 CH ARCHI INDONESIA (ARCI IJ)
ASL SP NAURA TECHNOLOGY GROUP CO LTD
CAREIT ASL MARINE (ASL SP)
ENRG CENTURION ACCOMMODATION REIT (CAREIT SP)
ASSA NEW ENERGY METALS CORP
ASSA ABLOY AB
- Thanawat Thangchadakorn
Thanachart Capital (TCAP TB) - 3Q25: Earnings Beat; A Significant Qoq ...
Company Results | Thanachart Capital (TCAP TB/HOLD/Bt50.50/Target: Bt57.00) TCAP reported a 3Q25 net profit of Bt2.1b (+27% yoy, +1% qoq). The results beat our and market expectations by 29% and 27%, respectively. The company’s credit costs dropped significantly by 121bp yoy and 62bp qoq to come in at 122bp in 3Q25. The NPL ratio rose qoq, due to the loan portfolio shrinking. We maintain HOLD with a higher target price of Bt57.00.
- Adrian Loh Tzum Yung
- Andrew Agita Buntoro
- Bella Lu Yifei
- Benjaphol Suthwanish
- Carol Dou Xiao Qin
- Damon Shen
- Desmond Chong Chee Wai
- Gigi Cheuk
- Jieqi Liu
- Jo Yee Ng
- Jonathan Koh
- Joyce Chu
- Kate Luang
- Ken Lee
- Malaysia Research Team
- Sunny Chen
- Suryaputra Wijaksana
- Tanapon Cholkadidamrongkul
- Tanaporn Visaruthaphong
- Thanawat Thangchadakorn
- Vincent Khoo Boo Aik
- Willinoy Sitorus
Regional Morning Meeting Notes: Friday, October 24, 2025
Greater China Sector Update | Automobile The escalating China-US trade tensions have triggered a dual crisis in chips and rare earth, potentially disrupting the global auto supply chain like that seen in 2021-22. China's auto sector sees short-term gains from domestic prioritisation but long-term risks. Chinese auto part companies may see a revenue loss in 4Q25 if the issue is not resolved in a month. Maintain MARKET WEIGHT. Top BUYs: CATL and Geely. Top SELLs: BYD and Li Auto. Sector Upda...
300014 EVE ENERGY CO. LTD. CLASS A
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
KKP KIATNAKIN BANK
00683 KERRY PROPERTIES LIMITED
00016 SUN HUNG KAI PROPERTIES LIMITED
FCT FRASERS CENTREPOINT TRUST
00823 LINK REAL ESTATE INVESTMENT TRUST
BBL BANGKOK BANK PUBLIC COMPANY LIMITED
KTB KRUNG THAI BANK PUBLIC CO. LTD.
TOP THAI OIL PUBLIC CO. LTD.
U96 SEMBCORP INDUSTRIES LTD.
TISCO TISCO FINANCIAL GROUP
GFPT GFPT
00014 HYSAN DEVELOPMENT CO. LTD.
TMB TMB BANK PUBLIC COMPANY LIMITED
KBANK KASIKORNBANK PUBLIC CO. LTD.
EGH EUREKA GROUP HOLDINGS
M3I MINTH GROUP LIMITED
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
TLKM PT TELKOM INDONESIA (PERSERO) TBK CLASS B
002709 GUANGZHOU TINCI MATERIALS TECHNOLOGY CO LTD CLASS A
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
01585 YADEA GROUP HOLDINGS LTD.
2333 GREAT WALL MOTOR CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
2338 WEICHAI POWER CO. LTD. CLASS H
01997 WHARF REAL ESTATE INVESTMENT CO. LTD.
02238 GUANGZHOU AUTOMOBILE GROUP CO. LTD. CLASS H
T TELEKOM MALAYSIA BHD
ECW ECO WORLD DEVELOPMENT GROUP
1833 PING AN HEALTHCARE AND TECHNOLOGY COMPANY LIMITED
02232 CRYSTAL INTERNATIONAL GROUP
1772 GANFENG LITHIUM CO. LTD. CLASS H
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3606 FUYAO GLASS INDUSTRY GROUP CO LTD-H
603305 NINGBO XUSHENG AUTO TECHNOLOGY (A)
00017 NEW WORLD DEVELOPMENT CO. LTD.
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
SCB SCB X PUBLIC COMPANY LIMITED
Z29 029 GROUP SE
02015 LI AUTO INC
300244 DIAN DIAGNOSTICS GROUP CO
600699 JOYSON ELECTRONICS CORP
- Thanawat Thangchadakorn
TMBThanachart Bank (TTB TB) - 3Q25: Results Beat; To Roll Out New Shar...
Company Results | TMBThanachart Bank (TTB TB/HOLD/Bt1.86/Target: Bt2.04) TTB posted 3Q25 net profit of Bt5.3b (+1% yoy, +6% qoq). The results beat our and consensus forecasts by 9%. The remaining tax benefit is Bt6.9b. The CEO has expressed concern about hire-purchase loans, especially for new cars. TTB will roll out a share buyback programme early next year. Maintain HOLD. Target price: Bt2.04
- Arsit Pamaranont
- Benjaphol Suthwanish
- Thanawat Thangchadakorn
Thailand Daily - Wednesday, October 22, 2025
Top Stories Company Results | Bangkok Bank (BBL TB/HOLD/Bt155.50/Target: Bt170.00) BBL posted a 3Q25 net profit of Bt13.8b, +11% yoy and +17% qoq. The results beat our and consensus expectations by 40% and 27%, respectively. The loan portfolio contracted 3.2% in 9M25. Meanwhile, an investment gain boosted bottom line, beating expectations in 3Q25. We should see the NPL reduction pattern continuing in 4Q25, in line with the guidance. Maintain HOLD with a higher target price of Bt170.00. Compan...
- Damon Shen
- Desmond Chong Chee Wai
- Jack Goh Tooan Orng
- Jack Lai Yuan Khai
- Jieqi Liu
- Jonathan Koh
- Malaysia Research Team
- Thanawat Thangchadakorn
- Willinoy Sitorus
Regional Morning Meeting Notes: Tuesday, September 23, 2025
Greater China Sector Update | Property Property investment has declined since Jul 25 due to weak demand, LGFV financing controls, slow destocking and urban-redevelopment, and limited new loans. Sep 25 data showed a rebound in Tier 1 city home sales, led by Shanghai. Central government capital is needed. However, the existing policy stance points to a low possibility of direct injection by the central government. Maintain MARKET WEIGHT, with CR Land as our top pick. Indonesia Strategy | T...
00688 CHINA OVERSEAS LAND & INVESTMENT LIMITED
BBL BANGKOK BANK PUBLIC COMPANY LIMITED
01109 CHINA RESOURCES LAND LIMITED
4197 SIME DARBY BHD.
TISCO TISCO FINANCIAL GROUP
SCNR SUNAC CHINA HOLDINGS LTD.
RLF LONGFOR GROUP HOLDINGS LTD.
AMRT SUMBER ALFARIA TRIJAYA TBK PT
AJBU KEPPEL DC REIT
INKP PT INDAH KIAT PULP & PAPER TBK
TMB TMB BANK PUBLIC COMPANY LIMITED
KBANK KASIKORNBANK PUBLIC CO. LTD.
BBCA PT BANK CENTRAL ASIA TBK
VSI V.S. INDUSTRY BERHAD
BAUTO BERMAZ AUTO BHD
KTB KONTOOR BRANDS
BBNI BANK NEGARA INDONESIA PERSER
SCB SCB X PUBLIC COMPANY LIMITED
CMRY PT CISARUA MOUNTAIN DAIRY TBK
MDKA MERDEKA COPPER GOLD TBK PT
NCKL PT TRIMEGAH BANGUN PERSADA TBK (HARITA NICKEL)
MTEL IJ PT DAYAMITRA TELEKOMUNIKASI
HRUM HARUM ENERGY TBK PT
PECCA MK PECCA GROUP BHD
NTTDCR SP NTT DC REIT
ASSA IJ ADI SARANA ARMADA TBK PT (ASSA IJ)
ARCI IJ ARCHI INDONESIA (ARCI IJ)
BNASTRA BINASTRA (BNASTRA MK)
- Thanawat Thangchadakorn
TMBThanachart Bank (TTB TB) - 2Q25: Results In Line; Well-Managed Asse...
TTB posted a 2Q25 net profit of Bt5.0b (-7% yoy, -2% qoq). The results are in line with our and consensus forecasts. TTB’s CEO stated that the bank prefers to protect the balance sheet and grow selectively amid a weakening economic outlook. The net impact from the “You Fight We Help” measure should be neutral to TTB. The bank may consider rolling over the remaining first-year budget of the share buyback programme to next year's budget instead. Maintain HOLD. Target price: Bt1.95.
- Benjaphol Suthwanish
- Tanaporn Visaruthaphong
- Thanawat Thangchadakorn
Thailand Daily - Monday, July 21, 2025
KEY HIGHLIGHTS Results Krungthai Card (KTC TB/BUY/Bt27.75/Target: Bt45.00) 2Q25: Results in line; robust bottom line performance and strong asset quality affirm the company's fundamental resilience despite recent share price volatility. TMBThanachart Bank (TTB TB/HOLD/Bt1.89/Target: Bt1.95) 2Q25: Results in line; well-managed asset quality. Update PTT Global Chemical (PTTGC TB/SELL/Bt22.50/Target: Bt20.00) 2Q25 core earnings expected to remain a loss. Downgrade to SELL.
- Audrey Celia
- Benjaphol Suthwanish
- Damon Shen
- Desmond Chong Chee Wai
- Gigi Cheuk
- Heidi Mo Jinghui
- Jieqi Liu
- Kate Luang
- Lester Siew
- Tanaporn Visaruthaphong
- Thanawat Thangchadakorn
- Willinoy Sitorus
Regional Morning Meeting Notes: Monday, July 21, 2025
GREATER CHINA Sector Property: Operational update and 1H25 earnings preview for CR Land and COLI. Update Tiangong International (826 HK/NOT RATED/HK$2.10): Leading global provider of specialty steels benefitting from recovery. INDONESIA Initiate Coverage Adi Sarana Armada (ASSA IJ/BUY/Rp810/Target: Rp1,300): A blue ocean leader in integrated mobility and logistics. MALAYSIA Update PPB Group (PEP MK/BUY/RM9.63/Target: RM15.80): We expect 2Q25 results to come in flat qoq at RM340m-370m, given st...
- Carol Dou Xiao Qin
- Gigi Cheuk
- Heidi Mo Jinghui
- Jack Lai Yuan Khai
- John Cheong Ming Chern
- Julia Pan Mengyao
- Kate Luang
- Lester Siew
- Ming San Soong
- Sunny Chen
- Thanawat Thangchadakorn
- Willinoy Sitorus
Regional Morning Meeting Notes: Thursday, June 19, 2025
GREATER CHINA Sector Healthcare Entering a new phase of accelerated growth. Upgrade to OVERWEIGHT. Internet 618 Festival – Evolving consumer trends and continued focus on value for money. Small/Mid Cap Highlights JBM Healthcare (2161 HK/BUY/HK$2.85/Target: HK$3.31) Takeaways from luncheon. INDONESIA Update Kalbe Farma (KL...
BBL BANGKOK BANK PUBLIC COMPANY LIMITED
01093 CSPC PHARMACEUTICAL GROUP LIMITED
KTB KRUNG THAI BANK PUBLIC CO. LTD.
TISCO TISCO FINANCIAL GROUP
300015 AIER EYE HOSPITAL GROUP CO. LTD. CLASS A
KLBF PT KALBE FARMA TBK
00241 ALIBABA HEALTH INFORMATION TECHNOLOGY LTD.
TMB TMB BANK PUBLIC COMPANY LIMITED
KBANK KASIKORNBANK PUBLIC CO. LTD.
01177 SINO BIOPHARMACEUTICAL LIMITED
4731 SCIENTEX
X2S SINOPHARM GROUP CO. LTD. CLASS H
SCI SCI ELECTRIC
PDD PINDUODUO INC. SPONSORED ADR CLASS A
3933 THE UNITED LABORATORIES INTE
KLK KUALA LUMPUR KEPONG BHD
2877 CHINA SHINEWAY PHARMACEUTICA
HCM HUTCHISON CHINA MEDITECH LIMITED
01801 INNOVENT BIOLOGICS INC.
1833 PING AN HEALTHCARE AND TECHNOLOGY COMPANY LIMITED
300760 SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO. LTD. CLASS A
603882 GUANGZHOU KINGMED DIAGNOSTICS GROUP CO. LTD. CLASS A
RSTON RIVERSTONE HOLDINGS LTD
1093 CSPC PHARMACEUTICAL GROUP LTD
603259 WUXI APPTEC CO. LTD. CLASS A
09988 ALIBABA GROUP HOLDING LTD.
2269 WUXI BIOLOGICS (CAYMAN) INC.
09618 JD.COM INC. CLASS A
3692 HANSOH PHARMACEUTICAL GROUP
01024 KUAISHOU TECHNOLOGY CLASS B
06160 BEIGENE LTD.
SCB WUXI APPTEC CO. LTD. CLASS H
300765 SCB X PUBLIC COMPANY LIMITED
02161 CSPC INNOVATION PHARMACEUTICAL CO L
300244 JBM (HEALTHCARE) LTD
TTB DIAN DIAGNOSTICS GROUP CO
TOTAL BRAIN LTD
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