| 【Company Research】CSPC Pharmaceutical (1093 HK) – To further expand mRNA and ADC pipelines |
| 【Sector Research】China Auto Sector – Mixed picture ahead as inventory risk lingers |
| 【Company Research】PDD Holdings (PDD US) – Core business delivered quality growth |
| 【行业研究】中国动力电池行业 – CIBF 2023：创新不止，技术为王 |
| 【Company Research】Baozun (BZUN US) – Mild recovery ahead |
| 【Company Research】Zhihu (ZH US) – Positive OCF for the first time |
| 【Sector Research】China Internet – April online game market recap |
| 【Company Research】Xiaomi (1810 HK) – Impressive earnings recovery in 1Q23; Reiterate BUY |
| 【Company Research】Tongcheng Travel (780 HK) – 2Q23E V-shaped rebound to continue |
| 【Company Research】Xpeng Inc. (XPEV US) – Lack of turnaround signals in 2023 |
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