| 【Fixed Income Research】DALWAN: Q&As on the consent solicitation |
| 【Company Research】Trip.com (TCOM US) – Release of pent-up demand as expected |
| 【Company Research】Baidu (BIDU US) – Generative AI related revenue generation ramping up |
| 【Company Research】Tongcheng Travel (780 HK) – Clear growth path on resilient travel demand |
| 【Company Research】Kuaishou (1024 HK) – Upbeat margin to continue |
| 【Company Research】Xiaomi (1810 HK) – 3Q23 beat on GPM and resilient smartphone; Reiterate BUY on EV upside in FY24E |
| 【行业研究】中国汽车行业– 2023广州车展：产品定义与技术创新并重 |
| 【Company Research】AK Medical (1789 HK) – 2023 guidance cut, expecting recovery in 2024 |
| 【Company Research】Atour Lifestyle (ATAT US) – Guidance raised and we stay positive in LT |
| 【Company Research】ZTO Express (2057 HK) – Good execution but rising concerns on price competition |
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