| 【Company Research】Li Auto Inc. (LI US) – 1Q23 beat with sustainable profitability ahead |
| 【Company Research】Prada SpA (1913 HK) – Re-rating is not over when Prada remains hugely sub-scale to its global peers; initiate at Buy |
| 【Company Research】InnoCare Pharma (9969 HK) – Eyes on next steps of orelabrutinib for MS |
| 【Company Research】Samsonite (1910 HK) – Another high growth year for Asia |
| 【Sector Research】China Consumer – From reopening to recovery – is the release of household excess savings the silver bullet? |
| 【Company Research】Xiaomi (1810 HK) – 1Q23E preview: expect earnings recovery on track; Reiterate BUY |
| 【Company Research】Chow Tai Fook (1929 HK) – Rosy near-term outlook with border re-opening; store efficiency enhancement a multi-year driver |
| 【Company Research】Tsingtao Brewery (168 HK) – Stronger ahead |
| 【Company Research】Proya Cosmetics (603605 CH) – ESOP & mgt sell-off signal growth to peak-out but relative operation excellence makes a trading Buy |
| 【Company Research】Shanghai Jahwa (600315 CH) – Too early to call for a turnaround but ESOP target is likely hit as a low hanging fruit; Down to HOLD |
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