Core business maintains a healthy growth momentum
Online music business maintains solid growth amid macro uncertainty
China Policy – Politburo maintains pro-growth stance while ruling out big stimulus
China TMT: Maintain buy XIAOMI’30-31s, XIAOMI 0’27(CB), MEITUA 0’27(CB), initiate buy on WB 3 3/8’30
1Q23 beat on better GPM; Maintain HOLD on fair valuation
China Banking Sector-Maintain OVERWEIGHT on valuation and positive outlook
1Q23 dragged by higher investments and macro headwinds; Maintain BUY on 2H recovery
Solid 1H24 with balanced sources of growth, maintain BUY
China Banking Sector: Maintain OVERWEIGHT on valuation and positive outlook
China Insurance Sector: Improving fundamentals; Maintain OVERWEIGHT