Shenwan Hongyuan: Perovskite to Drive Anti-Internal Competition in the Photovoltaic Industry, Market Potential is Enormous

The year 2025, as the first year of GW-scale perovskite production, marks the beginning of the commercialization journey for perovskite technology. With a vast potential market for future photovoltaic installations, perovskite holds significant growth potential.

Zhitong Finance14:32

Zhitong港股 Investment Diary | November 14

HK Stock Investment Diary | November 14, 2025

Zhitong Finance00:00

Shenwan Hongyuan: Reiterates 'Buy' Rating for KE Holdings Inc. (BEKE) as Profit Margins of Emerging Businesses Improve

Shenwan Hongyuan released a research report stating that, considering KE Holdings-W (02423)'s continuously increasing market share in brokerage services, promising future growth in home decoration, furniture, and housing rental businesses, as well as its increasingly stable industry position while still maintaining a valuation advantage (compared to the smaller-scale Wo Ai Wo Jia’s 26-year Wind consensus PE ratio of 31x), it has maintained a “Buy” rating. KE Holdings' platform boasts deep competitive barriers, reshaping the foundational framework of brokerage, securing human and property resources, and empowering the platform with full-process control and closed-loop management. Shenwan Hongyuan's key observations are as follows: In Q3 2025, GTV was flat year-on-year, revenue increased by 2% year-on-year, and adjusted net profit attributable to shareholders decreased by 28% year-on-year.

Sina HK StocksNov 12 10:11

Brokerage firms' 2026 strategy meetings are being held intensively, with the continuation of the bull market and profit recovery emerging as key themes.

① This week, six strategy meetings will be held, including those hosted by CITIC Securities and CICC in Beijing, CITIC in Shenzhen, Everbright and Guosheng in Shanghai, and Founder Securities in Changsha; ② CITIC Securities forecasts that the bull market will continue, with indices trending upward amid volatility but at a slower growth rate. Huatai Securities explicitly favors the "old economy" sector, while Open Source Securities proposes a "flat-topped slow bull" theory.

cls.cnNov 10 17:34

Shenwan Hongyuan: The market sentiment looking ahead to the 26-year economic outlook continues to evolve.

The long-term trend of technology growth shows insufficient cost-performance in the long run, with increasing short-term concerns over fundamentals; cyclicals with short-term price hikes show insufficient cost-performance in the short term and still face logical gaps in the medium-term outlook. The market-leading structure that could drive a breakout has yet to be established, and the A-share market overall may remain range-bound.

Zhitong FinanceNov 9 09:00

Shenwan Hongyuan (06806.HK) '25 Shen D13' and '25 Shen D14' will commence trading on November 4.

Gelonghui, November 6th丨Shenwan Hongyuan (06806.HK) announced that the issuance of the second tranche of its 2025 publicly offered short-term corporate bonds for professional investors (hereinafter referred to as "this bond") by its subsidiary Shenwan Hongyuan Securities Co., Ltd. concluded on October 29, 2025. The total issuance size of this bond is RMB 3.4 billion, with Tranche One having an issuance size of RMB 1.2 billion, a tenor of 135 days, and a coupon rate of 1.67%; and Tranche Two having an issuance size of RMB 2.2 billion, a tenor of 254 days, and a coupon rate of 1.72%. Upon review by the Shenzhen Stock Exchange, this bond is scheduled for listing on...

Gelonghui FinanceNov 6 18:29