External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Equity Bottom-Up

Yonyou Network Technology A / Equity Bottom-Up

<ul><li>Yonyou hosted (2 April) an earnings conference call following its 2024 annual results.</li><li>In 2024, Yonyou’s total revenue reached RMB9.2bn, down 7% YoY, owing to postponed customer demand amid macro headwinds, and Yonyou’s strategy to promote the subscription business model with greater intensity.</li><li>Net loss attributable to ordinary shareholders expanded to RMB2.1bn in 2024 (2023: RMB967mn), mainly due to: 1) the decline in revenue generation; 2) compensation provided to the employees that have left their jobs; and 3) provisions for goodwill impairment. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Yonyou hosted (2 April) an earnings conference call following its 2024 annual results.In 2024, Yonyou’s total revenue reached RMB9.2bn, down 7% YoY, owing to postponed customer demand amid macro headwinds, and Yonyou’s strategy to promote the subscription business model with greater intensity.Net loss attributable to ordinary shareholders expanded to RMB2.1bn in 2024 (2023: RMB967mn), mainly due to: 1) the decline in revenue generation; 2) compensation provided to the employees that have left their jobs; and 3) provisions for goodwill impairment. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Yonyou (600588 CH) - Striving for Large-Scale Loss Reduction in 2025