| 【Company Research】Q Technology (1478 HK) – Multiple growth engines in 2020; Raise TP to HK$16.7 |
| 【Company Research】FriendTimes Inc. (6820 HK) – Surfing on the female-oriented games tailwind |
| 【Company Research】SANY Heavy Industry – A (600031 CH) – To acquire financing company from parent co. |
| 【Company Research】China Gas Holdings (384 HK) – Leaping with “Beautiful China” |
| 【Sector Research】Auto Dealer Sector – Focus on luxury brands and after-sale markets |
| 【Company Research】China Modern Dairy (1117 HK) – Takeaways from reverse roadshow |
| 【Company Research】YY (YY US) – Tour takeaways: Eyes on overseas expansion |
| 【Company Research】A-Living (3319 HK) – Brand new group with full property management (PM) coverage |
| 【Company Research】KWG (1813 HK) – Aiming at 30% p.a. contracted sales growth |
| 【Sector Research】China Heavy Duty Truck Sector – HDT sales +5% YoY in Nov in line with est.; Staying positive in 2020E |