| 【Sector Research】China Internet – November online retail sales recap |
| 【Company Research】China Tower (788 HK) – A clearing event that investors have been waiting for; Maintain HOLD |
| 【行业研究】香港零售行业 – 入境政策放松快于预期，进一步巩固行业复苏，推荐估值较为安全的餐饮和酒店行业 |
| 【Company Research】Zhihu (ZH US) – Focus shifting to monetization and margin |
| 【Company Research】Li Auto Inc. (LI US) – Still best positioned among NEV trio |
| 【Sector Research】China Auto Sector – 2023 Outlook: A critical year for long-term survival |
| 【Company Research】China Gas Holdings (384 HK) – Expect mild recovery ahead |
| 【Sector Research】China Construction Machinery / HDT – 2023 outlook: Difficulties mastered are opportunities won |
| 【Company Research】Geely Automobile (175 HK) – PHEV could be a positive surprise in FY23 |
| 【Company Research】Cafe De Coral (341 HK) – Light at the end of the tunnel |
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