esearch Equity Research 26 June 2026 | 6:57AM HKT Asia Leisure ghts into Casinos, Airlines, Duty Fre Hainan, Hotels, OTA & the Rise of L TCOM's non-GAAP net profit fell -7% yoy to Rmb3.9bn in 1Q26, -9% below consensus estimates mainly due to Rmb1.1bn affiliate loss largely attributed to its equity stake in MakeMyTrip whose share price declined by ~50% during the period. Group revenue and EBIT came in slightly above market expectation +17%/+15% yoy to Rmb16.2bn/Rmb4.6bn respectively (vs. Rmb15.9bn/Rmb4.4bn p ...

26 June 2026 | 1:04AM HKT Equity Research Bosideng International Holdings (3998.HK): First Take: 2HFY26 largely in-line sales/OP, with NP beat on non-OP and tax; Buy Bosideng delivered a modest beat in sales/OP, while stronger non-OP and lower tax rate drove NP beat GSe by 11% in FY2H26 (six months ended Mar 31 2026). In FY2H26, Bosideng group revenue grew by +8% yoy (2% higher than GSe) mainly driven by better sales at Bosideng brand, partially offset by OEM segment miss. While Group GPM came in slightly b ...