| 【Company Research】JD.com (JD US) - Entering into a clean base for growth |
| 【Company Research】ZTO Express (ZTO US) - 1Q24 core earnings beat estimates; Shifted to profitable growth strategy |
| 【Company Research】ZTO Express (2057 HK) - 1Q24 core earnings beat estimates; Shifted to profitable growth strategy |
| 【Fixed Income Research】LGFVs: Our thoughts on the plan to purchase unsold residential units |
| 【Sector Research】Capital Goods - Assessing the impact of US tariff on China’s solar cells and STS cranes |
| 【Company Research】Tencent (700 HK) - Quality growth strategy underpins strong earnings growth |
| 【Company Research】Alibaba (BABA US) - Business adjustment shows greater visibility in delivering results |
| 【Company Research】Huya (HUYA US) - Fundamentals to bottom out |
| 【Company Research】TME (TME US) - 1Q24 beat on strong music business growth and GPM expansion |
| 【Company Research】SANY International (631 HK) - Expect an unexciting set of results in 1Q24E, potential recovery in 2H24E |
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