| 【Fixed Income Research】DALWAN: The first "proper" book-built deal of Chinese HY properties since Sep'21 |
| 【Company Research】Alibaba (BABA US) – Looking beyond short-term pandemic impact |
| 【Sector Research】China Construction Machinery – Prefer AWP to excavator in the near term |
| 【Company Research】Chinasoft (354 HK) – Benefiting from localization trend with KaihongOS |
| 【Company Research】Anta Sports (2020 HK) – Turnaround is in sight in 2Q23E |
| 【Company Research】Sunny Optical (2382 HK) – Shipment weakness likely to persist into 1Q23E; Maintain HOLD |
| 【Company Research】Vesync (2148 HK) – Some brands may turn around faster than the industry |
| 【公司研究】三一国际 (631 HK) – 进军新能源装备板块，订下进取的收入目标 |
| 【Company Research】JD.com (JD US) – Expecting limited additional financial impact from pandemic spread in 4Q22 |
| 【Company Research】AIA Group Ltd. (1299 HK) – Pent-up demands to boost HK growth; Raise TP |
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