| 【Company Research】Q-Tech (1478 HK) – Weak 2H22 as expected; IoT/auto CCM poised to drive recovery in 2023 |
| 【Sector Research】China Property Sector – CNY: Crowded malls, pent-up buyers but overbuilt houses |
| 【Fixed Income Research】Fantasia: Facts and thoughts on debt restructuring |
| 【Company Research】Baidu (BIDU US) – Factoring into near-term pandemic impact but recovery is in sight |
| 【Sector Research】China Software & IT Services – Year of rabbit: still about localization |
| 【Sector Research】China Property Sector – Property+ Weekly: Can we expect post-CNY recovery? |
| 【Sector Research】China Internet – China online advertising: onset for gradual recovery in 2023E |
| 【Company Research】Yancoal Australia (3668 HK) – Thermal ASP in 4Q continued to beat benchmark |
| 【Company Research】Tongcheng Travel (780 HK) – Better recovery ahead with China reopening |
| 【Company Research】TME (TME US) – Making progress into scale optimization |
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