GEMs Best Stock Ideas May 2026

研报英文原文证据摘录

GEMs Best Stock Ideas May 2026

r high double-digit gross margins, with upside from strong sell-through and higher Mainland China Value

Land (1109 HK) prices in later batches. High-quality recurring income: Investment property gross margin improved to

71.8%, with rental income more than sufficient to cover dividends and interest. Potential dividend catalyst:

2026 could be a focal year for a dividend lift, aligned with the company’s 30th listing anniversary.

AI-led growth: AI already contributed >50% of revenue in 2025 and management expects it to stay >50%

in 2026. ASIC server strength: AI growth is being driven primarily by ASIC servers (~90% of AI revenue

in 2025), which should help sustain momentum in 1H26, while AMD and Nvidia next-gen GPU servers areWiwynn Corporation Taiwan AI exposure expected to ramp in 2H26. Potential margin improvement: With GB200 volume shipments ending in

(6669 TT) 4Q25, the near-term mix should tilt towards ASIC + general servers, which should support a margin

recovery in 1H26. Capital actions: The proposed capital actions (including a GDR issuance) are aimed

at funding capacity expansion and working capital injection to capture demand.

Supportive aluminium backdrop: Fundamentals remain robust, with a ~45mt global capacity cap and

resilient demand from mainland China. Tight supply + geopolitics = upside skew: With supply already

tight, prolonged Middle East tensions (c.8–9% of global output) add upside risk to aluminium prices. Commodity “select”Hindalco (HNDL IN) India India business well positioned: Hindalco’s India operations are set up to benefit from a constructive super-cycle exposure

aluminium environment. Attractive opportunity given valuation/price: The stock has materially