| 【Company Research】Li Ning (2331 HK) – Solid brand elevation and reform plan |
| 【Company Research】Zhejiang Jingsheng (300316 CH) – Riding on the wave of large wafers |
| 【Company Research】Dexin China (2019 HK) – The landmark of Hangzhou |
| 【Company Research】SANY International (631 HK) – Product mix enhancement to drive further valuation upside |
| 【Company Research】Hope Education (1765 HK) – Acquisition of Gongqing College |
| 【Company Research】Lonking (3339 HK) – Recovery of wheel loader sales; Proxy of metal prices; U/G to BUY |
| 【Company Research】Dafa Properties Group (6111 HK) – Rising YRD player with high asset turnover |
| 【Company Research】China Hongqiao (1378 HK) – Sail through the winds and waves |
| 【Company Research】S-Enjoy Service (1755 HK) – 2020E NP up >50% YoY; Rerating on improving third Party expansion and VAS |
| 【Company Research】Yum China (YUMC US) – The darkest hour is just before the dawn |
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