| 【Company Research】Smoore Int’l (6969 HK) – Operational challenges remain; but China regulatory risk to sentiment likely settled |
| 【Company Research】SANY International (631 HK) – Core net profit in 2022 +53% YoY in line with expectation; Margin recovery in 4Q |
| 【Company Research】Yongda Automobiles (3669 HK) – After-sales as earnings driver amid low valuation |
| 【Company Research】PDD Holdings (PDD US) – Investment to enhance long-term development prospect |
| 【Company Research】Sunny Optical (2382 HK) – 2H22 first take: weakness in-line; awaiting recovery |
| 【Company Research】Greentown Management (9979 HK) – Earnings beat with double surprises on dividend payout; Maintain Buy |
| 【Sector Research】China Software & IT Services – Implications of Huawei MetaERP |
| 【Company Research】China Lilang (1234 HK) – Turning around with attractive yield |
| 【Company Research】Li Ning (2331 HK) – A conservative guidance but is priced in |
| 【Company Research】Xpeng Inc. (XPEV US) – 4Q22 earnings miss; sales may rise QoQ in FY23E |
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