Report Summary

• Nvidia’s AI chips are driving a massive wave of Big Tech investment, but their short shelf life means companies must continually reinvest, raising concerns about underestimated depreciation and recurring expenses.
• Solid-state battery breakthroughs are reshaping industrial machinery, with the global equipment market projected to exceed Rmb32bn by 2030 and early adoption expected in robotics and eVTOLs.
• Pan Hong Holdings Group Ltd is showing bullish technical signals, suggesting a bottoming-out reversal and potential for a resumed uptrend, supported by volume spikes and multiple technical indicators.
• The report includes extensive disclaimers and jurisdiction-specific distribution restrictions, emphasizing the report is for informational purposes and not tailored to individual investment needs.
• CGS International’s rating framework defines “Add”, “Hold”, and “Reduce” based on expected total return over the next 12 months, and provides sector and country weighting guidance for investors.