October 8, 2026 07:33 AM GMT Alibaba Group Holding | Asia Pacific 2QF27 Preview: Accelerating Cloud + Resilient E-comm = Earnings Upgrade External cloud rev est. +55% YoY, with further acceleration in the coming quarters, while margins improve to 13.5% (15% in Dec Q). E-comm remains resilient with CMR -5% YoY (+1% LFL), EBITA (ex-QC) +LSD %, and QoQ QC loss reduction. We raise F27-28 EBITA 7-10%. Reiterate OW (Top Pick). Key Takeaways External cloud rev growth to accelerate to 55% YoY: We expect cloud reven ...

12 October 2026 | 2:32PM HKT Equity Research Thundersoft (300496.SZ): In-house AIOS to empower smart automotive and AI devices; Sell Thundersoft continues to enhance its AIOS and AI agent technology to empower the automotive, IoT and smartphones segments, meanwhile expanding to the Embodied AI solution. The company delivered strong 2Q26 revenues growth at 40% YoY to Rmb2.6bn, supported by IoT revenues growth at 47% YoY in 1H26, followed by smart automotive at 14% and smart software at 22% YoY. Due to the pr ...

14 October 2026 | 11:53PM HKT Equity Research Kingdee (0268.HK): ARR +19% YoY to Rmb4.6bn by Sep 2026; Rising orders from AI native products; Neutral Ting Song +852-2978-6466 | ting.song@gs.com Goldman Sachs (Asia) L.L.C. Allen Chang +852-2978-2930 | allen.k.chang@gs.com Goldman Sachs (Asia) L.L.C. Verena Jeng +852-2978-1681 | verena.jeng@gs.com Goldman Sachs (Asia) L.L.C. Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that ...