| 【Fixed Income Research】China TMT: Maintain buy XIAOMI’30-31s, XIAOMI 0’27 (CB), MEITUA’27-28s (CB), initiate buy on WB 3 3/8’30 |
| 【Sector Research】China Internet – August online retail sales recap |
| 【Sector Research】China Technology – Global SPE 2Q23 Wrap: China demand remains resilient; Awaiting upcycle after 2023 slowdown |
| 【Sector Research】China Property Sector – NBS Aug data in-line, expect better recovery in Sep-Oct but sustainability is uncertain |
| 【Company Research】Yum China (YUMC US) – Key takeaways from YUMC 2023 Investor Day |
| 【Company Research】Yum China (9987 HK) – Key takeaways from YUMC 2023 Investor Day |
| 【公司研究】洪九果品 (6689 HK) – 估值重调；改善经营性现金流为年内首要目标 |
| 【Sector Research】China Technology – Apple launch event: iPhone 15/Apple Watch inline; Camera upgrade remains the major focus |
| 【Sector Research】China Insurance – Optimized solvency measurement opens room for insurance funds participation in equity investment |
| 【Fixed Income Research】DALWAN: Another reality check |
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