| 【Company Research】SF Holding-A (002352 CH) – Spin-off of intra-city instant delivery business to unlock value |
| 【公司研究】理想汽车 (LI US) – 改款上市有望继续带动交付量爬坡 |
| 【Company Research】Pinduoduo (PDD US) – A solid start |
| 【Company Research】Xiaomi (1810 HK) – 1Q21 strong beat on better margin; Reiterate BUY |
| 【行业研究】中国工程机械及重卡行业 – 接近上升周期顶点；下调恒立液压，三一重工和重汽评级 |
| 【公司研究】金山云 (KC US) – 乘着多云部署的东风 |
| 【Company Research】CSPC Pharmaceutical (1093 HK) – Expect fruitful R&D and BD results |
| 【Company Research】Kuaishou (1024 HK) – 2Q21E rev to accelerate with better margin |
| 【Company Research】CG Service (6098 HK) – USD2bn fund raising for its ambitious 2025 plan |
| 【公司研究】福禄网络 (2101 HK) – 一站式虚拟商品精品服务商 |
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