| 【Fixed Income Research】West China Cement New Issue: We see FV at 4.8% |
| 【Company Research】China Gas Holdings (384 HK) – Long term courses to remain despite short term incident shocks |
| 【公司研究】李寧 (2331 HK) – 乘國潮之風繼續破浪 |
| 【Company Research】Shennan Circuits (002916 CH) – Positive on capacity expansion plan; Maintain HOLD on fair valuation |
| 【Sector Research】China software & IT services – What are tech investors thinking? |
| 【Company Research】TME (TME US) – Online music leader with LF audio initiatives |
| 【Company Research】Kingsoft Cloud (KC US) – Reset expectation on Bytedance |
| 【公司研究】波司登 (3998 HK) – 敏捷性和品牌升級是關鍵策略 |
| 【公司研究】特步國際 (1368 HK) – 國潮的熱潮可望持續 |
| 【Company Research】Want Want (151 HK) – Downgrade to Hold as cost pressure not priced in |
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