| 【Sector Research】China Auto Sector – Survival of the fittest: Pioneers in the NEV era |
| 【Fixed Income Research】YUZHOU – Exchange and consent solicitation |
| 【Company Research】Ming Yuan Cloud (909 HK) – Recovery not in sight yet |
| 【Company Research】Maxscend (300782 CH) – Long-term positive outlook unchanged despite short term fluctuation |
| 【Fixed Income Research】GZRFPR - Tender offer results |
| 【Company Research】Nayuki Holdings Limited (2150 HK) – SSSG recover in 4Q21, but we remain cautious |
| 【Company Research】Alibaba (BABA US) – Challenges yet over |
| 【Company Research】Chinasoft (354 HK) – Huawei worsening balance sheet adds uncertainty |
| 【Company Research】CR Beer (291 HK) – 4Q likely in line with on track premiumization progress; our sector top pick |
| 【Sector Research】China Property Sector – Mildly positive if M&A debt is excluded in “Three red line” calculation |
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