20220427-招银国际-Suspension_of_Coverage_2页_295kb

Summary of the Document: Suspension of Coverage

Core Content

This document announces the suspension of coverage for CIMC Vehicles (1839 HK) by CMB International Global Markets Limited (CMBIGM). The suspension means that all previous recommendations regarding the company are no longer valid as of the date of the suspension. The document also outlines the ratings system used by CMBIGM, as well as important disclosures and legal restrictions on the distribution of the report.

Main Points

• Suspension of Coverage:
  CMBIGM has suspended coverage of CIMC Vehicles (1839 HK). All prior recommendations are no longer applicable.

• Ratings System:
  CMBIGM uses a rating system to classify stocks and industries:

  • BUY: Potential return of over 15% over the next 12 months
  • HOLD: Potential return of +15% to -10% over the next 12 months
  • SELL: Potential loss of over 10% over the next 12 months
  • NOT RATED: Stock is not rated
  • OUTPERFORM: Industry expected to outperform the market
  • MARKET-PERFORM: Industry expected to perform in line with the market
  • UNDERPERFORM: Industry expected to underperform the market

• Company Information:
  CMBIGM is a wholly owned subsidiary of CMB International Capital Corporation Limited, which is itself a subsidiary of China Merchants Bank.

• Important Disclosures:

  • There are risks involved in trading securities.
  • The report is not tailored to individual investors.
  • Past performance does not guarantee future results.
  • CMBIGM does not guarantee the accuracy or completeness of the information.
  • The report is for informational purposes only and not an offer to buy or sell securities.
  • CMBIGM is not liable for any losses incurred due to reliance on the report.
  • The information is subject to change without notice.
  • CMBIGM may issue other reports with different conclusions.
  • There may be conflicts of interest due to CMBIGM's potential involvement in securities transactions.

• Distribution Restrictions:

  • The report is intended for specific recipients only and cannot be reproduced, reprinted, sold, or published without prior written consent.
  • In the United Kingdom, the report is only for "persons falling within Article 19(5)" or "High Net Worth Companies, etc."
  • In the United States, the report is only for "major US institutional investors" and cannot be distributed to others.
  • In Singapore, the report is distributed by CMBISG, an Exempt Financial Adviser, and is only for Accredited Investors, Expert Investors, or Institutional Investors. If distributed to others, CMBISG assumes legal responsibility only to the extent required by law.

Key Information

• Suspension Date: The suspension is effective as of the date of the report.
• Analyst Certification: The analyst certifies that the views expressed in the report are personal and not influenced by compensation.
• Conflict of Interest: CMBIGM may have financial interests or act as a principal in securities transactions related to the companies mentioned.
• Legal Disclaimer: The report is not an offer to buy or sell securities, and CMBIGM is not liable for any reliance on the information provided.
• Contact Information:
  • Analyst: Alex Ng, (852) 3900 0881, alexng@cmbi.com.hk
  • CMBIGM: 45/F, Champion Tower, 3 Garden Road, Hong Kong
  • CMBISG: +65 6350 4400 (for Singapore recipients)

Conclusion

The document serves as a formal notice of the suspension of coverage for CIMC Vehicles, along with a detailed rating system and important legal and disclosure information. It emphasizes that the report is for informational use only and does not constitute investment advice. Recipients are advised to consult professional financial advisors before making investment decisions.