| 【Company Research】Baozun (BZUN US) – 2H21E headwinds yet over |
| 【Company Research】JOYY Inc. (YY US) – Soft guidance on overseas traffic normalization |
| 【公司研究】中国宏桥 (1378 HK) – 上半年盈利能力强劲；受铝价支持, 下半年盈利将再创新高 |
| 【Company Research】New Hope Service (3658 HK) – Standing on the giant’s shoulders; initiate with Buy |
| 【Company Research】China Resources Gas (1193 HK) – 1H21 results beat; accelerating new business growth |
| 【Company Research】Redsun Services (1971 HK) – Strong 1H21 Results |
| 【Company Research】Bilibili (BILI US) – Full-year growth intact |
| 【Fixed Income Research】TPHL - Curve fairly priced |
| 【Company Research】Agile (3383 HK) – Play safe to deliver stable dividend |
| 【Company Research】Tencent (700 HK) – LT outlook intact, despite prudent 2H21E |
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