【招商证券】 Mandi led growth in FY22E, NRDL renewal de-risked.pdf

FY22 Preview： Strong execution of “3+3 Strategy”; Raise TP to HK$2.66

FY22销售成绩优异，核心产品加速渗透目标市场

FY22E preview: page not yet turned

FY22 results below; GPM recovery on better product mix

Fair valuation despite FY22 high earnings quality

高等教育专题研究：FY22港股高教板块业绩回顾与展望

FY22收入8.84亿人民币，调后净利0.98亿派息率50%

轻工制造及纺织服装行业周报：Lululemon FY22收入快速增长，存货暂处高位

FY22E preview： page not yet turned

JS Global Lifestyle FY22E 起步缓慢，但正在改善