Goldman Sachs Research: Asia Leaders Conference Day 1 Takeaways & Regional Earnings Update

This edition of The 720 summarizes key takeaways from Day 1 of the Goldman Sachs Asia Leaders Conference 2026 alongside quarterly results and estimate revisions across regional equities. Key focus areas include structural growth in Asian wealth management, AI hardware infrastructure acceleration, and divergence in corporate earnings.

Key Takeaways

• 1.Management commentary at Day 1 of the Asia Leaders Conference highlighted resilient operational drivers across regional consumer, financial, and tech leaders despite mixed macro headwinds.
• 2.Semiconductor interconnect, advanced ceramic packaging, and optical components are seeing accelerated demand driven by AI data center capex and edge AI device rollouts.
• 3.Corporate earnings updates in China show diverging trends: AI and data center power solutions are accelerating, whereas building materials and residential solar face cyclical headwinds.

Table of Contents

• Asia Leaders Conference Takeaways
• Consumer | Guming, Yum China, Midea
• Financials | STAN & PRU, ICICI Bank, KB Financial, Bank Rakyat, CICC
• Internet | Kanzhun
• Technology | Luxshare, Kematek, Montage, InnoScience
• Healthcare | Hengrui, Terumo
• Autos | Hyundai Motor India
• Results | Inovance, Zhipu, JP Chemicals, Haitian F&F, Kstar, Mindray, Skshu Paint
• Japan Specialty Chemicals – Earnings revisions for 7 electronic materials companies
• Foshan Haitian Flavouring & Food – Refocusing on core SKUs amid catering headwinds
• Kstar – 2Q26 renewables miss offset by strong data center momentum
• Mindray – 1H26 NP beat on margins; IVD and emerging businesses drive growth
• Skshu Paint – 2Q26 Miss on Weak Demand and Margins; Estimates Cut
• Events | Toto
• Disclosure Appendix

Report data

Goldman Sachs Investment Research global Equity coverage universe Rating Distribution

Reports in this series

The 720 is shown in chronological order through this edition, published on September 1, 2026.

Part of the The 720 series — view all 25 editions

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