| 【Company Research】Innolight (300308 CH) – Solid 3Q results; Cloud capex may moderate in 2023E after record spending |
| 【Company Research】Xiaomi (1810 HK) – 3Q22 preview: a soft quarter but expect QoQ recovery in 4Q22 |
| 【Fixed Income Research】Asian AT1s Part II – Picks on DM AT1s |
| 【Company Research】RemeGen (9995 HK) – A pioneer biopharma in innovative ADC and fusion protein medicines |
| 【Company Research】CTGDF (601888 CH) – A weak 3Q on Sanya’s lockdown; resilient online sales made up the gap but unavoidably diluted GPM |
| 【Company Research】Botanee Biotech (300957 CH) – A soft 3Q prompted for an earnings cut |
| 【Company Research】Yili Industrial (600887 CH) – Sequential recovery in-sight |
| 【Company Research】Dingdang Health (9886 HK) – Pioneer in China’s on-demand retail pharmacy industry |
| 【Sector Research】China Consumer – Lacklustre 4Q22E outlook despite any short-lived rally; top buy CRB/ Proya/ CTGDF |
| 【Company Research】Maxscend (300782 CH) – 3Q performance dragged by weak mobile; It is always darkest before dawn |
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