| 【Company Research】ZTO Express (ZTO US) – Expect strong recovery after 1Q20E |
| 【Company Research】Xtep (1368 HK) – Solid cash position to yield attractive dividend |
| 【Sector Research】China Brokerage Sector – On an upward policy trajectory |
| 【Company Research】Tongda Group (698 HK) – Not immune from COVID-19 impact; D/G to HOLD |
| 【Company Research】A-Living (3319 HK) – Looking forward to next 3-year development |
| 【Company Research】JOYY Inc. (YY US) – Solid 4Q19; Eyes on overseas momentum |
| 【Company Research】Sunny Optical (2382 HK) – Wait for better entry point, Maintain Hold |
| 【公司研究】信義光能 (968 HK) – 19年業績符合預期，新產能受疫情影響延遲一季度 |
| 【公司研究】華電福新 (816 HK) – 預料19財年業績不俗；20年前路面臨陰霾 |
| 【公司研究】世茂 (813 HK) – 為併購做好準備 |
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