资讯日报

国信证券(香港)·资讯日报景怡, +852 28996747, jessiejing@guosen.com.cn 股票池 Information DisclosuresStock ratings，sector ratings and related definitions Stock Ratings： The Benchmark：Hong Kong Hang Seng IndexTime Horizon：6 to 12 months BuyRelative Performance>20%；or the fundamental outlook of the company or sector is favorable.AccumulateRelative Performance is 5% to20%；or the fundamental outlook of the company or sector is favorable.NeutralRelative Performance is-5% to 5%；or the fundamental outlook of the company or sector is neutral.ReduceRelative Performance is-5% to-20%；or the fundamental outlook of the company or sector is unfavorable.SellRelative Performance <-20%；or the fundamental outlook of the company or sector is unfavorable. The Benchmark：Hong Kong Hang Seng Index Time Horizon：6 to 12 months OutperformRelative Performance>5%；or the fundamental outlook of the sector is favorable.NeutralRelative Performance is-5% to 5%；or the fundamental outlook of the sector is neutral.UnderperformRelative Performance<-5%；or the fundamental outlook of the sector is unfavorable. Interest disclosure statement The analyst is licensed by the Hong Kong Securities and Futures Commission. Neither the analyst nor his/her associates servesas an officer of the listedcompanies covered in this report and has no financial interests in the companies. Guosen Securities（HK）Brokerage Co.，Ltd. and its associated companies（collectively “Guosen Securities（HK）”）has no disclosable financialinterests（including securities holding）or make a market in the securities in respect of the listed companies. Guosen Securities（HK）has noinvestment banking relationship within the past 12 months，to the listed companies. Guosen Securities（HK）has no individual employed by the listedcompanies. Disclaimers The prices of futures and options may move up or down，fluctuate from time to time，and even become valueless. Losses may be incurred as well asprofits made as a result of buying and selling futures and options. The prices of securities may fluctuate up or down. It may become valueless. It is as likely that losses will be incurred rather than profit made as a resultof buying and selling securities. The content of this report does not represent a recommendation of Guosen Securities（HK）and does not constitute the forecast on any futures and/oroptions. Guosen Securities（HK）may be seeking or will seek investment banking or other business（such as placing agent，lead manager，sponsor，underwriter or proprietary trading in such securities）with the listed companies. Individuals of Guosen Securities（HK）may have personal investmentinterests in the futures and/or options mentioned in this report. The content of this report does not represent a recommendation of Guosen Securities（HK）and does not constitute any buying/selling or dealingagreement in relation to the securities mentioned. Guosen Securities（HK）may be seeking or will seek investment banking or other business（suchas placing agent，lead manager，sponsor，underwriter or proprietary trading in such securities）with the listed companies. Individuals of GuosenSecurities（HK）may have personal investment interests in the listed companies. This report is based on information available to the public that we consider reliable，however，the authenticity，accuracy or completeness of suchinformation is not guaranteed by Guosen Securities（HK）. This report does not take into account the particular investment objectives，financialsituation or needs of individual clients and does not constitute a personal investment recommendation to anyone. Clients arewholly responsible for anyinvestment decision based on this report. Clients are advised to consider whether any advice or recommendation contained in this report is suitable fortheir particular circumstances. This report is not intended to be an offer to buy or sell or a solicitation of an offer to buy or sell the securities mentioned. This report is for distribution only to clients of Guosen Securities（HK）. Without Guosen Securities（HK）’s written authorization，any form ofquotation，reproduction or transmission to third parties is prohibited，or may be subject to legal action. Such information and opinions containedtherein are subject to change and may be amended without any notification. This report is not directed at，or intended for distribution to or use by，any person or entity who is a citizen or resident of or located in any jurisdiction where such distribution，publication，availability or use would becontrary to applicable law or regulation or which would subject Guosen Securities（HK）and its group companies to any registration or licensingrequirement within such jurisdiction. 信息披露 公司评级、行业评级及相关定义 买入相对表现超过20%，或公司、行业基本面良好。增持相对表现介于5%至20%之间，或公司、行业基本面良好。中性相对表现介于-5%至5%之间，或公司、行业基本面中性。减持相对表现介于-5%至-20%之间，或公司、行业基本面不理想。卖出相对表现低于-20%，或公司、行业基本面不理想。 行业评级 参考基准：香港恒生指数评级区间：6至12个月 跑赢大市相对表现超过5%，或行业基本面良好。中性相对表现介于-5%至5%之间，或行业基本面中性。跑输大市相对表现低于-5%，或行业基本面不理想。 利益披露声明 报告作者为香港证监会持牌人士，分析员本人或其有联系者并未担任本研究报告