| 【Company Research】Haidilao (6862 HK) – Gradual recovery and store expansion intact |
| 【Company Research】Q Technology (1478 HK) – Stronger CCM outlook in 2021; Raise TP to HK$23.0 |
| 【Company Research】Yihai (1579 HK) – Transitions for better long-term growth |
| 【Company Research】Innolight (300308 CH) – Weak 1Q21; Expect demand to pick up in 2Q |
| 【Company Research】Zhongsheng (881 HK) – Foster the pre-owned vehicle sales business |
| 【Fixed Income Research】21Vianet has sufficient cash to repurchase share from Tuspark, but capex need remains (VNET) |
| 【Company Research】Momo (MOMO US) – Wait for more recovery signs |
| 【Company Research】CMGE Technology (302 HK) – Eyes on three key titles in pipeline |
| 【公司研究】瑞声科技 (2018 HK) – 4Q20因一次性收益超预期；镜头单价/毛利低于预期 |
| 【Company Research】Suntien Green Energy (956 HK) – Earnings growth to resume in 2021E |
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