20230803-招银国际-Transfer_of_Coverage_2页_319kb

CMB International Securities Equity Research Update Summary

Coverage Transfer

On August 3, 2023, this report details the transfer of coverage for several equity research stocks. The coverage was moved from Marley Ngan to Saiyi He, CFA, with investment recommendations and earnings estimates unchanged from previously published reports.

Stocks Covered in the Transfer:

• SenseTime (Stock Code: 20 HK)
• Kingdee (Stock Code: 268 HK)
• Kingsoft Cloud (Stock Code: KC US)
• Glodon (Stock Code: 002410 CH)
• Yonyou (Stock Code: 600588 CH)

Investment Recommendation

The investment recommendations from CMB International Global Markets Limited (CMBIGM) remain constant. Key ratings include:

• BUY: Stocks expected to return more than 15% over 12 months.
• HOLD: Stocks with potential returns ranging from +15% to -10% over 12 months.
• SELL: Stocks anticipated to experience a loss exceeding 10% over 12 months.
• Additional industry performance ratings (OUTPERFORM, MARKET-PERFORM, UNDERPERFORM) are referenced but not detailed here.

Analyst Certification

The lead analyst, Saiyi He, CFA, certifies that the views expressed reflect personal opinions and there are no conflicts of interest regarding compensation or trading activities.

Important Disclosures

This report carries standard disclaimers advising investors of securities risks, potential losses, and the need for independent evaluation. CMBIGM assumes no liability for reliance on this information and urges consultation with financial advisors.