| 【Fixed Income Research】ZHPRHK - Better entry opportunities as more differentiation expected |
| 【Fixed Income Research】HONGQI – Reiterate OW on solid fundamental and diversification play |
| 【Sector Research】China CIS market – Beginning of multi-year growth cycle; Initiate BUY on Willsemi and GalaxyCore |
| 【Company Research】Xtep (1368 HK) – Stable 2H21E and upbeat long-term guidance |
| 【Company Research】ENN Energy (2688 HK) – 1H21 results in line; accelerating path towards net-zero |
| 【Company Research】PICC Group (1339 HK) – 1H21: continual outperformance of P&C arm |
| 【Company Research】Jiangsu Hengli (601100 CH) – Net profit in 2Q21 down only 2% YoY; slightly better than expectations |
| 【Company Research】Tongcheng-Elong (780 HK) – Looking beyond 3Q21E headwinds |
| 【Company Research】PICC P&C (2328 HK) – 1H21 performance in line |
| 【Company Research】COLI (688 HK) – Margin pressure may overshadow the earnings visibility |
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