| 【Sector Research】China Software & IT Services – China cloud landscape changing |
| 【公司研究】中升控股 (881 HK) – 规模优势显现，效率持续提升 |
| 【Company Research】Xiaomi (1810 HK) – Target global No.1 in 3 years; Reiterate BUY |
| 【Company Research】China Tower (788 HK) – 1H21 in-line; tower business remains slow |
| 【Company Research】Nayuki Holdings Limited (2150 HK) – A prestigious teahouse brand in the making |
| 【Company Research】Meituan (3690 HK) – Confident in LT organic growth |
| 【Sector Research】China Construction Machinery / HDT – Favourable policy shift; Defensive growth amid volatile market; Upgrade SANY Heavy & Sinotruk |
| 【Company Research】Vanke - H (2202 HK) – Takeaway from July sales conference call |
| 【Fixed Income Research】GEMDAL New Issuance – We see FV at 5% - low 5% |
| 【Company Research】Alibaba (BABA US) – Multi-app strategy in investment cycle |
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