| 【Company Research】Hikvision (002415 CH) – Intelligent camera leadership strengthened |
| 【Sector Research】China NEV Sector – NEV New Forces: leading the wave of vehicle electrification |
| 【Company Research】Great Wall Motor (2333 HK) – Marketing takes the lead |
| 【Company Research】Shennan Circuits (002916 CH) – Margin pressure to persist on rising material cost; Maintain HOLD |
| 【Sector Research】China Brokerage Sector – Structural changes occurring; valuation attractive to play beta |
| 【Company Research】Baozun Inc. (9991 HK) – TAM expansion with new channels and M&A |
| 【Company Research】Baozun Inc. (BZUN US) – TAM expansion with new channels and M&A |
| 【Company Research】Alibaba (BABA US) – Investment for long-term growth |
| 【Company Research】AAC Technologies (2018 HK) – 1Q profit alert on normalised demand; Maintain HOLD on fair valuation |
| 【Company Research】Ming Yuan Cloud (909 HK) – SaaS growth outlook intact, upgrade to BUY |
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