https://zh.app/en/r/ulvr-2026-08-03Zen Horizonen2026-08-03Unilever: Q2 Volume Grew 5.5%, the Strongest Quarter in More Than a Decade, but 47.43 Pounds Leaves No Margin of Safety https://zh.app/cn/r/ulvr-2026-08-03纵横研报zh-cn2026-08-03联合利华：第 2 季度销量增长 5.5% 创十余年最佳，47.43 英镑已无安全边际 https://zh.app/en/r/lmt-2026-08-03Zen Horizonen2026-08-03Lockheed Martin: Backlog Rose 36.8 Billion Dollars in Six Months, Mostly on a Single THAAD Action, While 19.2 Times Guided Earnings Leaves No Margin of Safety https://zh.app/cn/r/lmt-2026-08-03纵横研报zh-cn2026-08-03洛克希德·马丁：半年在手订单增加 368 亿美元、多数来自单笔 THAAD 合同行动，19.2 倍指引盈利已无安全边际 https://zh.app/en/r/ba-2026-08-03Zen Horizonen2026-08-03Boeing: Second-Quarter Free Cash Flow Turned Positive, but 45–50 Times Owner Earnings Already Prices the Recovery https://zh.app/cn/r/ba-2026-08-03纵横研报zh-cn2026-08-03波音：第二季度自由现金流转正，但 45–50 倍所有者收益已把复苏提前定价 https://zh.app/en/r/6682-2026-08-03Zen Horizonen2026-08-03Phancy Group: Revenue Rose 35.6% to 7.135 Billion Yuan While Gross Margin Fell to 34.8% and Operating Cash Flow Stayed Negative for a Sixth Straight Year https://zh.app/cn/r/6682-2026-08-03纵横研报zh-cn2026-08-03范式智能：收入增长 35.6% 至 71.35 亿元，毛利率降至 34.8%，经营性现金流连续第六年为负 https://zh.app/en/r/1211-2026-08-03Zen Horizonen2026-08-03BYD: Exports Reached 43.8% of First-Half Volume While Group Sales Fell 15.7% and First-Quarter Free Cash Flow Ran 19.3 Billion Yuan Negative https://zh.app/cn/r/1211-2026-08-03纵横研报zh-cn2026-08-03比亚迪：出口占上半年销量 43.8%，集团销量下滑 15.7%，一季度自由现金流为负 193 亿元 https://zh.app/en/r/042700-2026-08-03Zen Horizonen2026-08-03HANMI Semiconductor: Q2 Operating Margin Hit a Record 51.9%, but 95.5 Times Earnings Prices a Single-Generation Moat https://zh.app/cn/r/042700-2026-08-03纵横研报zh-cn2026-08-03韩美半导体：第 2 季度经营利润率 51.9% 创历史新高，但 95.5 倍市盈率押的是一代工艺的护城河 https://zh.app/en/r/tru-2026-08-02Zen Horizonen2026-08-02TransUnion: Strip Out the Zero-Margin FICO Royalty and the 12% to 13% Reported Growth Outlook Becomes 5% to 6%, While 78.62 Dollars Sits Above the Conservative Range https://zh.app/cn/r/tru-2026-08-02纵横研报zh-cn2026-08-02TransUnion：剔除零毛利的 FICO 版税后，12%～13% 的报告口径增长指引变成 5%～6%，而 78.62 美元高于保守区间 https://zh.app/en/r/sungrow-2026-08-02Zen Horizonen2026-08-02Sungrow Power Supply: After the FCC Covered-List Ruling, the Price Sits 0.6% Below a CNY 104 Conservative Value While Q1 Storage Margin Has Already Slipped to About 30% https://zh.app/cn/r/sungrow-2026-08-02纵横研报zh-cn2026-08-02阳光电源：FCC 涵盖清单落地后，股价仅低于 104 元保守中枢 0.6%，而第 1 季度储能毛利率已滑到约 30% https://zh.app/en/r/intc-2026-08-02Zen Horizonen2026-08-02Intel: A Real Product Recovery, Priced as If the Foundry Turnaround Had Already Worked https://zh.app/cn/r/intc-2026-08-02纵横研报zh-cn2026-08-02英特尔：产品端的复苏是真的，但股价已按晶圆代工转型成功来定价 https://zh.app/en/r/baba-2026-08-02Zen Horizonen2026-08-02Alibaba: March-Quarter Cloud Revenue Rose 38% While Consolidated Adjusted EBITA Fell 84%, Free Cash Flow Turned to a RMB 17.3 Billion Outflow, and USD 122.25 Sits Above Conservative Value https://zh.app/cn/r/baba-2026-08-02纵横研报zh-cn2026-08-02阿里巴巴：3 月季度云收入增长 38% 而合并经调整 EBITA 下滑 84%，自由现金流转为 173 亿元净流出，122.25 美元高于保守估值 https://zh.app/en/r/047810-2026-08-02Zen Horizonen2026-08-02Korea Aerospace Industries: Second-Quarter Revenue Rose 41% While Operating Profit Fell 43%, the 27.35 Trillion Won Backlog Converts at 13.5% a Year, and 127,300 Won Leaves No Margin of Safety https://zh.app/cn/r/047810-2026-08-02纵横研报zh-cn2026-08-02韩国航空宇宙产业：第二季度收入增长 41% 而营业利润下滑 43%，27.35 万亿韩元订单储备一年只转化 13.5%，127,300 韩元没有安全边际