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    RESEARCH

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 42)

    CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 42)

    04 Sep 2023 China saw net foreign capital inflows in 1H23, with an increased purchase of domestic stocks and bonds by foreign investors. Among them, foreign investors purchased nearly US$79bn worth of domestic bonds. However, data also showed global investors

    Crosby_research September 4, 2023September 4, 2023 RESEARCH Read more

    CROSBY Research – Suntien Green Energy (956 HK/BUY): NG/Wind NP down by 48%/8% YoY

    CROSBY Research – Suntien Green Energy (956 HK/BUY): NG/Wind NP down by 48%/8% YoY

    04 Sep 2023 1H23 revenue was down by 1.7% YoY to Rmb10.0bn, mainly due to 1) 2.8% YoY decline in NG sales, which accounted for 66.0% of total revenue (1H22: 66.7%), on the back of a 2.9% YoY decline in

    Crosby_research September 4, 2023September 4, 2023 RESEARCH Read more

    CROSBY Research – NFI (1837 HK/BUY): New channel business continued its growth momentum with 8,135 POS

    CROSBY Research – NFI (1837 HK/BUY): New channel business continued its growth momentum with 8,135 POS

    31 Aug 2023 NFI’s 1H23 revenue was up by 4.0% YoY to Rmb874m. Offline channel sales, which accounted for 58.9% of total sales (1H22: 61.1%), edged up 0.2% YoY to Rmb515m on the back of i) a 34.9% YoY increase

    Crosby_research August 31, 2023 RESEARCH Read more

    CROSBY Research – IGG (799 HK/BUY): Multiple growth drivers from Doomsday, Viking Rise, and App business

    CROSBY Research – IGG (799 HK/BUY): Multiple growth drivers from Doomsday, Viking Rise, and App business

    30 Aug 2023 IGG announced 1H23 results with revenue edged up by 0.5% YoY to HK$2,499m. Revenue of Lords Mobile (LM) decreased 17.5% YoY to HK$1,657m. Revenue of Doomsday and Viking Rise reached HK$250m and HK$123m. Revenue of APP business

    Crosby_research August 30, 2023August 30, 2023 RESEARCH Read more

    CROSBY Research – China Lesso (2128 HK/BUY): A resilient set of 1H23 results

    CROSBY Research – China Lesso (2128 HK/BUY): A resilient set of 1H23 results

    29 Aug 2023 Despite the market uncertainties coupled with gloomy property sector in China in 1H23, China Lesso still managed to demonstrate strong resilience by registered a 2.7% YoY marginal increase in turnover to Rmb15.3bn. On the back of YoY

    Crosby_research August 29, 2023August 29, 2023 RESEARCH Read more

    CROSBY Research – Wasion Holdings (3393 HK/BUY): A solid set of 1H23 results, indicating a good FY23

    CROSBY Research – Wasion Holdings (3393 HK/BUY): A solid set of 1H23 results, indicating a good FY23

    28 Aug 2023 Wasion’s 1H23 turnover increased by 26.4% YoY to Rmb3.2 bn while NP increased by 49.2% YoY to Rmb213.8m. In 1H23, sales of Wasion’s power AMI/ communication and fluid (C&F) AMI/ ADO, all recorded an encouraging growth of

    Crosby_research August 28, 2023 RESEARCH Read more

    CROSBY Research – Sunny Optical (2382 HK/BUY): HLS/HCM shipment bottom out and sequential GPM improvement in 2H23

    CROSBY Research – Sunny Optical (2382 HK/BUY): HLS/HCM shipment bottom out and sequential GPM improvement in 2H23

    28 Aug 2023 Sunny reported 1H23 revenue decreased by 15.9% YoY to Rmb14,279m, dragged by 1) declined HLS/HCM shipment due to weak smartphone market demand; and 2) weak VR products sales on market softness. GPM in 1H23 shrunk significantly by

    Crosby_research August 28, 2023August 28, 2023 RESEARCH Read more

    CROSBY Research – Anta (2020 HK/BUY): Solid 1H23 results with expanding OPM

    CROSBY Research – Anta (2020 HK/BUY): Solid 1H23 results with expanding OPM

    25 Aug 2023 Anta’s 1H23 revenue was up by 14.2% YoY to Rmb29.65bn, mainly driven by i) 6.1% YoY growth from core brand sales to Rmb14.2bn as a result of retail market recovery post pandemic and the ongoing DTC model

    Crosby_research August 25, 2023August 25, 2023 RESEARCH Read more

    CROSBY Research – Canvest (1381 HK/BUY): Higher revenue contribution from operation segment

    CROSBY Research – Canvest (1381 HK/BUY): Higher revenue contribution from operation segment

    25 Aug 2023 1H23 revenue down by 28% YoY to HK$2.98bn, mainly due to i) 53.8% decline in construction revenue to HK$997.2m on fewer projects in the pipeline; while ii) revenue from power sales and waste treatment was down by

    Crosby_research August 25, 2023August 25, 2023 RESEARCH Read more

    CROSBY Research – Xtep (1368 HK/BUY): Solid 1H23 revenue growth, full year sales growth target 15-20% YoY

    CROSBY Research – Xtep (1368 HK/BUY): Solid 1H23 revenue growth, full year sales growth target 15-20% YoY

    24 Aug 2023 Xtep’s 1H23 revenue was up by 14.8% YoY to Rmb6,522m, mainly driven by i) 10.9% YoY growth from core brand sales to Rmb5,430m as a result of the strong orders from distributors for its signature brands and

    Crosby_research August 24, 2023 RESEARCH Read more
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