| 【Company Research】China Lilang (1234 HK) – 1H23 inline and FY23E guidance maintained |
| 【Company Research】Tencent (700 HK) – Solid earnings growth on GPM expansion |
| 【Sector Research】China Internet – July online retail sales recap |
| 【Company Research】Alibaba (BABA US) – In-depth analysis into segment value |
| 【Company Research】TME (TME US) – Improving profitability despite pressure on social entertainment business |
| 【Company Research】Mobvista Inc. (1860 HK) – Moving into 2H23E acceleration |
| 【Sector Research】China Technology – Global foundry 2Q23 Wrap: prolonged inventory correction; slower demand recovery in 2H |
| 【Sector Research】China Property Sector – NBS 7M23 data: awaiting for more policy implementation |
| 【Company Research】Huya Inc. (HUYA US) – Shift to game monetization in transition year |
| 【Fixed Income Research】Yanlord: Continue to navigating through the storm well |
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