华灿光电(300323) Key points HC SemiTek is the second-largest LED chip supplier in China, next only toSanan, mainly in blue / green light LED chips (62% / 9% of 1H18 revenues). Private placement announced in Oct, for: 1) white light ...

欧菲科技(002456) Key points We hosted a NDR with O-Film in Hong Kong on Nov 27. Investors are highly interested in its handset lens / vehicle lens progress, capital burden, qualification lead time, and camera module dynamics. We ma...

丽珠集团(000513) Key points The decline of Shenqi Fuzheng and Likangle should continue into 2019… …offset by a rise in western drugs in gastrointestinal & hormone diseases. We initiate coverage at Outperform and a TP o...

涪陵榨菜(002507) Key points Pricing power on the back of brand equity. Raw material price likely to increase; channel expansion is underway. Strong balance sheet to provide sufficient ammunition for M&A. Event We visited Ful...

万达电影(002739) Key points 2Q earnings missed on weak box office and accordingly PSA and margins We trim 18/19E adj. earnings by 9%/5% with a lower TP of Rmb49.5 The stock remains suspended on an acquisition deal, which could be E...