| 【Sector Research】China Property Sector – Property+ Weekly: Can we expect post-CNY recovery? |
| 【Sector Research】China Internet – China online advertising: onset for gradual recovery in 2023E |
| 【Company Research】Yancoal Australia (3668 HK) – Thermal ASP in 4Q continued to beat benchmark |
| 【Company Research】Tongcheng Travel (780 HK) – Better recovery ahead with China reopening |
| 【Company Research】TME (TME US) – Making progress into scale optimization |
| 【Sector Research】China Internet – Game license approval further normalises |
| 【Sector Research】China Auto Sector – Weak ending of 2022 provides a glimpse of hope |
| 【Sector Research】China Property Sector – Silver lining lies on relaxation in Tier 1 cities |
| 【Company Research】CR Beer (291 HK) – Another positive year for 2023; our preferred pick for China’s re-opening |
| 【Company Research】Zoomlion (1157 HK) – Spin-off of AWP business to unlock value |
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