| 【Company Research】Yongda Automobiles (3669 HK) – New-car GPM may bottom out in 2H23E |
| 【Company Research】AAC Tech (2018 HK) – 1H23 weakness in-line; Maintain HOLD on fair valuation |
| 【Company Research】PA Good Doctor (1833 HK) – Business restructuring closes to the end |
| 【Company Research】CR Gas (1193 HK) – 1H23 results marginally beat; continue to implement “1+2+N” strategy |
| 【Company Research】GAC Group (2238 HK) – Homegrown brands likely to narrow loss in 2H23 |
| 【Company Research】Weibo (WB US) – Expect mild recovery in 3Q23E |
| 【Company Research】Cloud Music (9899 HK) – 1H23 earnings beat on strong GPM expansion |
| 【Company Research】China Life (2628 HK) – Outpaced VNB growth in 1H23; short-term NP pushback not affect value growth |
| 【Company Research】Sunny Optical (2382 HK) – Expect shipment recovery on track in 2H23E; Maintain Hold on margin overhang |
| 【Company Research】YSB (9885 HK) – Digitalizing outside-of-hospital pharmaceutical circulation market in China |
公司地址：香港中环花园道三号冠君大厦45-46楼
电话：（852）3900-0888 传真：（852）3761-8788
招银国际版权所有 Copyright © 2019-2026 CMB International Capital Corporation Limited. All rights reserved.
