| 【Company Research】CSPC Pharmaceutical (1093 HK) – Q3 slightly miss while long-term growth prospects remain intact |
| 【Company Research】Alibaba (BABA US) – FY22E rev guiding down to 20%-23% YoY |
| 【Company Research】PA Good Doctor (1833 HK) – Adopting new strategy for high quality growth |
| 【Company Research】Baidu (BIDU US) – Ads headwinds to linger in 4Q21E & 1Q22E |
| 【Company Research】ZTO Express (ZTO US) – Upbeat guidance on profitable growth in 2022E; raising earnings forecast and TP |
| 【Company Research】ZTO Express (2057 HK) – Upbeat guidance on profitable growth in 2022E; raising earnings forecast and TP |
| 【Fixed Income Research】HRINTH – Capital injection realizes, Neutral post rally |
| 【Fixed Income Research】AGILE – EBs issue strengthened liquidity |
| 【Company Research】Bilibili (BILI US) – Mixed 3Q21, with stepping-up content investment |
| 【Company Research】NetEase Inc. (NTES US) – More bullish on 4Q21E & FY22E outlook |
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