| 【Company Research】Cafe De Coral (341 HK) – Expect a massive subsidy and traffic recovery |
| 【Company Research】InnoCare Pharma (9969 HK) – Biopharmaceutical company developing global innovative therapies in oncology and autoimmune areas |
| 【Sector Research】China Brokerage Sector – Reform acceleration could drive further divergence |
| 【Sector Research】China Construction Machinery Sector – Excavator sales in Apr +60% YoY; Growth to continue in May/Jun |
| 【Company Research】Hong Kong Exchange & Clearing (388 HK) – 1Q20 solid core revenue weighed by invt. losses |
| 【Company Research】JOYY Inc. (YY US) – Expecting solid 1Q20E on track |
| 【Company Research】Midea Group (000333 CH) – China recovery to outweigh overseas pressure |
| 【Company Research】Ascentage Pharma (6855 HK) – HQP-1351 obtained ODD from US FDA |
| 【Sector Research】China Technology Sector – Apple FY2Q above; Conservative outlook as expected |
| 【Company Research】Zhejiang Dingli - A (603338 CH) – Secular growth story intact; Raised earnings estimates & TP |
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