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Citi: AI short-drama supply is surging. Why does Citi prefer platforms, IP and tools?

China released 13 times as many short dramas in the first eight months of 2026 as in all of 2025, but advertising budgets and viewing time have not kept pace with the expansion in supply, putting pressure on producers’ profits. Citi believes returns are more likely to accrue to businesses controlling traffic, quality rights and generation tools; opportunities to cut costs in long-form series and films are constrained by content quality and the costs of existing projects.

Citi: US GLP-1 prescriptions weaken as tirzepatide’s share rises to 57.9%

Citi’s tracking shows that total US GLP-1 prescriptions have turned negative year over year, while tirzepatide continues to gain share. Oral Wegovy now accounts for 35% of the brand’s prescriptions; the rollout of new oral products is occurring alongside a weakening overall market.

Bernstein: Why do European electricity networks trade at different valuations? How regulatory return mechanisms change the timing of profits and cash flows

Bernstein believes real-return regimes retain more value in an asset base that grows with inflation, while nominal-return regimes recover cash earlier. The former faces greater financing pressure during investment expansions and also mechanically produces higher valuation multiples; judging relative value requires considering both the regulatory mechanism and the investment phase.

Bernstein: Cambricon’s third-quarter results: Revenue ramp-up slower than expected as rising gross margin accompanies higher inventories and receivables

Third-quarter revenue in 2026 doubled year on year, but still fell short of the ramp-up pace expected by Bernstein and the market. Gross margin rose to 58.7%, supporting the pricing assessment, while inventories and accounts receivable continued to rise and operating cash flow was negative for the quarter. Supply and the pace of revenue recognition have become key constraints.

Bernstein: Bloom raises full-year guidance for the third time; cash collection comes into focus after profit beat

Third-quarter revenue rose 138% year over year, and adjusted EBITDA exceeded market consensus by 24%, as operating leverage began to emerge during the capacity expansion. But cash tied up in contract assets and higher capital expenditure turned quarterly free cash flow negative. Bernstein raised its price target to 306 dollars and maintained its Market-Perform rating.

Goldman Sachs: SMIC: AI demand supports capacity expansion; Goldman Sachs cuts long-term profit forecasts but maintains target price

Goldman Sachs remains positive on AI-driven demand for advanced and mature process technologies, but expects a slower pace of price increases for advanced processes and cuts its 2028 and 2029 net profit forecasts by 14% and 7%, respectively. After rolling its valuation basis forward to 2029, it maintains its Hong Kong share target price at HK$153.

Goldman Sachs: Kingsoft Cloud third-quarter earnings preview: Easing compute constraints supports growth, while profit and funding remain constrained

Goldman Sachs expects Kingsoft Cloud’s third-quarter revenue to grow 34% year on year, driven mainly by accelerating demand from Xiaomi and the Kingsoft group. However, a return to normal expenses puts operating profit below consensus, while expansion also depends on customer prepayments and GPU leasing. Goldman maintains its Buy rating and cuts its target price to 15.5 US dollars.