【海通国际】Morning Meeting Summary-260410（6页）.pdf

1、 Equity Asia Research For disclosures associated with each report,including disclosure of risks,valuation methodologies and target price formation,please refer to the full report on our website at This research report is distributed by Haitong International,a global brand name for the equity researc

2、h teams of Haitong International Research Limited(“HTIRL”),Haitong Securities India Private Limited(“HSIPL”),Haitong International(Japan)K.K.(“HTIJKK”),Haitong International Securities Company Limited(“HTISCL”),and any other members within the Haitong International Securities Group of Companies(“HTI

3、SG”),each authorized to engage in securities activities in its respective jurisdiction.Please refer to the appendix for the Analyst Certification,Important Disclosures and Important Disclaimer.China Overseas.2 正力新能(3677 HK):首次覆盖：产能步入收获期，利润释放正当时正力新能估值与业绩双升可期 Rosy Hou.2 澳优(1717 HK):澳优 2025 年年报点评：海外高增托

4、底业绩，内码切换完成迎修复维持优于大市;下调目标价 29%Jasmine Wu.2 映恩生物(9606 HK):2025 年业绩回顾：核心管线商业化临近；下半年数据催化丰富维持优于大市;下调目标价 1%Kehan Meng.2 Japan.2 Saizeriya(7581 JP):Supply Chain Hurdles and Fragmented China RecoveryMaintain OP Qiao Xu.2 Daifuku(6383 JP):The Orders Environment Remains StrongMaintain OP&Raise TP by 28%Tsutom

5、u Kijima.2 India.2 Exchanges weekly update Index Options premium ADTO down 6%MoM Hitesh Gulati.2 Q4FY26 Preview:Growth,Margin&Earnings to Remain Under Pressure Yogesh Soni.2 Angel One(ANGELONE IN):Average daily order run rate for Mar26 hits new monthly high in FY26Maintain OP&Raise TP by 3%Sohil Kau

6、ra.2 Table_Title Morning Meeting Summary 正力新能首次覆盖正力新能首次覆盖;澳优澳优/映恩生物映恩生物/Saizeriya/Daifuku/Angel One 10 Apr 2026 Table_index Last 1D(%)YTD(%)MSCI China 78.0-0.91-5.50 Hang Seng 25,752-0.54 0.48 Shanghai Comp 3,966-0.72-0.07 Topix 3,741-0.90 9.75 Nikkei 225 55,895-0.73 11.04 Kospi 5,778-1.61 37.11 BSE