Xiaomi Corporation – Upbeat results supported by strong growth momentum
November 21, 2018

Xiaomi has upbeat revenue growth and profitability despite challenging market condition. In 3Q18, Xiaomi reported a stronger-than-expected set of results；reiterate “BUY”rating and price target of HK$ 22.0





Xiaomi Corporation – Innovation and unique consumer IoT network key to growth
Sept 4, 2018

Xiaomi offers a portfolio of award-winning, high-performance smartphones, smart hardware and lifestyle products with “honest price”. The smart devices serve as the gateway to offer internet services to its loyal users. Its price strategy is achieved through highly efficient distribution channels that seamless integrate direct online sales, self-operated Mi Home and offline retail partners



The market may underestimate a potential trade war
March 7, 2018

On March 1, 2018, President Trump proposed that the US would impose 25% import tariffs on steel and 10% on aluminum.Although a trade war may end up in a lose-lose situation for China and the US, we are concerned that the stock market may have underestimated such possibility



Comment on US market plunge
February 6, 2018

De-risking mode on; HK stocks may see good entry point on volatility; The global stock selloff may trigger US and Europe investors to take profit on the liquid HK stock market, given the rally in 2017. On the other hand, southbound inflows through Stock Connect program may come to offset this



Canvest Environmental Protection Group – Star on the rise
February 21, 2017

Canvest Environmental Protection Group is the largest non-state-owned waste-to-energy (WTE) incineration treatment provider in Guangdong Province, by municipal solid waste (MSW) treatment capacity. It is a star on the rise, with ROE expansion and we Initiate with Buy rating.



Wonderful Sky Financial Group – No.1 market leader stepping up the game
December 22, 2016

We initiate coverage on?Wonderful Sky (WSFG, 1260.HK)?with Buy rating. We identify it as a growth stock with good defensive value. We see deep valuation discount to its peers with dividend yield at 7.0%, and FY17 PE at 8.6x.