CHINA EQUITY RESEARCH
China Equity Research in English
English briefs of company reports from leading Chinese brokers (CITIC Securities, CICC, Huatai, GF and others) on A-share and Hong Kong listed companies: rating, target price, the analyst's thesis and the key numbers. 150 reports so far, newest first.
Keshun Waterproof: non-recurring profit turns positive, margin and cash flow improve markedly2026-11-01 · Guotou Securities · 300737.SZHuatai keeps Jinbo at Buy, trims target to CNY 34.19 on gradual margin recovery2026-10-31 · Huatai Securities · 688598.SHFangsheng 3Q26 recurring net profit +27% yoy; Huatai keeps Buy, TP CNY14.862026-10-31 · Huatai Securities · 603998.SHHuatai Securities 9M26 net profit rises 18% to CNY 15.0bn despite Q3 proprietary trading slump2026-10-31 · China Merchants Securities · 601688.SHHuatai keeps Buy on MicroPort EP, target CNY 28.43 as 3Q26 revenue growth accelerates to 29.7%2026-10-31 · Huatai Securities · 688351.SHGinlong: FX losses hit 3Q26 profit; Huatai keeps Overweight, cuts target to CNY 47.642026-10-31 · Huatai Securities · 300763.SZASMPT Q3 orders hit record high on logic TCB and optical demand; Huatai cuts target to HKD 180, keeps Buy2026-10-31 · Huatai Securities · 0522.HKFoxconn Industrial Internet: GPU and ASIC dual drivers lift 3Q26 revenue 57.7%; TP cut to CNY 58.122026-10-31 · Huatai Securities · 601138.SHFibocom 3Q26 revenue +30% YoY, net profit +17%; Huatai keeps Buy, cuts TP to CNY 17.682026-10-31 · Huatai Securities · 300638.SZHuatai keeps Buy on Tuopu Group, target CNY 51.91, as liquid cooling and robot businesses advance2026-10-31 · Huatai Securities · 601689.SHAIA 3Q26 NBV falls 5% YoY to USD 1.415bn on HK and mainland high base; Buy kept, TP HKD 88.002026-10-31 · Huatai Securities · 1299.HKGuotai Haitong: fee businesses solid in 26Q1-3, but volatile markets expose fragile prop trading2026-10-31 · China Merchants Securities · 601211.SHKibing Group Q3 net loss CNY 584mn on CNY 335mn impairment; Huatai keeps Buy, TP CNY 5.792026-10-31 · Huatai Securities · 601636.SHTongfu Microelectronics 26Q3 revenue and adjusted profit hit records on AI advanced packaging2026-10-31 · Huachuang Securities · 002156.SZShanghai Yanpu Q3 gross margin up to 15.7% (+2.2pp YoY); robotics build-out continues2026-10-31 · Huachuang Securities · 605128.SHRemeGen turns profitable in 3Q26 on CNY 910m revenue; RC148 global Phase III on track2026-10-31 · Huatai Securities · 688331.SHAVIC Jonhon: Q3 net profit jumps 172% YoY as high-end manufacturing drives growth; Buy kept2026-10-31 · Orient Securities · 002179.SZInnovita stays Buy, RMB 56.40 TP; Alzheimer's blood-test rollout opens brain-health curve2026-10-31 · Huatai Securities · 688253.SHHuaibei Mining: Q3 coal prices jump despite lower volumes, earnings surge; Buy kept, TP cut to CNY 16.442026-10-31 · Orient Securities · 600985.SHChina Merchants Bank: 9M26 revenue +5.3%, net profit +2.4%, a benchmark of steady profitability; Buy maintained2026-10-31 · Shenwan Hongyuan Research · 600036.SHBaiya Q3 2026 swings to CNY 42m net loss as core offline regions restructure; peripheral provinces +33.7%2026-10-31 · Huaxi Securities · 003006.SZWanfeng Q3 revenue +1.4% YoY but net profit -46.3% on aluminum costs; Guosen keeps Outperform2026-10-31 · Guosen Securities · 002085.SZShanGao HuanNeng 9M26 net profit +73% YoY, gross margin up 6.68pct; upgraded to Strong Buy2026-10-31 · Huachuang Securities · 000803.SZCOSCO Shipping Energy: trapped tankers exit the Gulf, 3Q26 net profit +235% YoY; 4Q elasticity intact2026-10-31 · Huachuang Securities · 600026.SHJingyi Equipment: 3Q26 revenue up 48.95% YoY, margin rebounds; Strong Buy, TP CNY 116.52026-10-31 · Huachuang Securities · 688652.SHGuangzhi Tech: TP cut to CNY 227.11, Overweight kept; infrared revenue surges, InP lifts long-term ceiling2026-10-31 · Guotai Haitong Securities · 300489.SZChina Merchants Securities 9M26 net profit +94.8% on sci-tech direct investment gains2026-10-31 · Guosen Securities · 600999.SHSinopec Q3 net profit CNY 13.4bn, refining profit up CNY 14.3bn QoQ; Outperform kept2026-10-31 · Guosen Securities · 600028.SHOverweight on China Tourism Group Duty Free: Hainan share up >2pct, 9M26 net profit +20.25%2026-10-31 · CSC Financial · 601888.SHYunda 9M26 net profit jumps 72.1% to CNY 1.26bn on price repair; Buy kept, TP CNY 8.352026-10-31 · Huachuang Securities · 002120.SZCompass Q3 2026: financial info revenue -21.45% YoY, brokerage resilient; target cut to CNY 672026-10-31 · Guotai Haitong Securities · 300803.SZMindray Medical: overseas growth and emerging businesses offset China weakness; Buy maintained, TP CNY 196.822026-10-31 · Orient Securities · 300760.SZWuXi AppTec 3Q26 beats again: 9M revenue up 38.6%, 2026 guidance raised to CNY 61.0-61.9bn2026-10-31 · Orient Securities · 603259.SHMingyang Electric: Q3 revenue turns positive as overseas data-center orders ramp; Overweight2026-10-31 · Guotai Haitong Securities · 301291.SZSunshine Insurance 9M26: life net profit +65.4% YoY, solvency solid; Overweight, TP HKD 5.832026-10-31 · Guotai Haitong Securities · 6963.HKAIA 9M26 NBV +7%, Q3 -4% on high base; September up over 25%, Overweight, TP HKD 104.662026-10-31 · Guotai Haitong Securities · 1299.HKPICC 3Q26: P&C COR improves to 95.8%, 3.5% total investment yield leads peers; Buy kept2026-10-31 · Soochow Securities · 601319.SHGuangdong Investment: 9M26 net profit up 7.3% YoY, target lifted to HKD 11.40 on 15x 2026E PE2026-10-31 · Guotai Haitong Securities · 0270.HKCPIC: 9M26 operating profit +5.6%, P&C COR down 1.4pct to 96.2%; Buy, TP CNY 38.552026-10-31 · Guotou Securities · 601601.SHSPD Bank: 9M26 net profit +4.5% YoY, NPL ratio and NPL balance both fall; Buy, TP CNY 12.172026-10-31 · Zheshang Securities · 600000.SHXinbao Electric Q3 revenue +0.7% on domestic growth, profit down 71% on cost pressure2026-10-31 · SDIC Securities · 002705.SZAnker Innovations: 9M26 non-GAAP net profit +53.72% YoY, maintain Buy2026-10-31 · China Securities (CSC Financial) · 300866.SZWens Foodstuff: costs keep falling, pig-and-poultry hedge shows resilience; Buy, TP CNY 17.052026-10-31 · Orient Securities · 300498.SZRainbow Chemical: Buy kept, target cut to CNY 55.64 on delayed Brazil demand and FX losses2026-10-31 · Orient Securities · 301035.SZYifei Laser Q3 profit turns around; CNY 400m Xingqihang deal advances platform strategy2026-10-31 · China Merchants Securities · 688646.SHShede Spirits Q3 net profit +72.4% YoY as expense control improves; Orient Securities keeps Buy, TP CNY 35.12026-10-31 · Orient Securities · 600702.SHAngel Yeast: 9M26 revenue +15.45%, Q3 net profit -8.46% on cost pressure; Buy, TP CNY 45.02026-10-31 · Orient Securities · 600298.SHTangshan Port 9M26 net profit +7.85% YoY; high-dividend port benchmark reiterated Buy, TP CNY 5.712026-10-31 · Huachuang Securities · 601000.SHEastern Air Logistics: 3Q26 net profit CNY 730m (+2.8% YoY) shows resilience; Buy, TP CNY 26.72026-10-31 · Huachuang Securities · 601156.SHPostal Savings Bank: non-interest income accelerates, NIM decline narrows; Buy kept, target CNY 6.902026-10-31 · Zheshang Securities · 601658.SHWote Advanced Materials initiated at Overweight, TP CNY 23.60; LCP ramp drives 107% EPS growth in 2027E2026-10-31 · Guotai Haitong Securities · 002886.SZSinopec Q3 net profit jumps 57.2% YoY on refining margin recovery; Huatai keeps Buy2026-10-31 · Huatai Securities · 600028.SHPhiChem 9M26 net profit up 43.3% YoY; China Merchants Securities keeps Overweight on new materials push2026-10-31 · China Merchants Securities · 300398.SZZhongtian Technology: Huatai keeps Buy, TP RMB 37.05, optical comms drive 9M26 net profit up 71.1%2026-10-31 · Huatai Securities · 600522.SHYingliu 26Q3 net profit +42%, gas-turbine upcycle intact and orders full; Buy maintained2026-10-31 · Huachuang Securities · 603308.SHHuachuang reiterates Strong Buy on Dongpeng Beverage: 3Q26 net profit -7.8% but share gains intact, target CNY 1302026-10-31 · Huachuang Securities · 605499.SHGujing Distillery: Q3 revenue returns to growth (+3.7%) but net profit slumps 68% on destocking and higher spend2026-10-31 · Huachuang Securities · 000596.SZHuatai reaffirms Buy on Eastroc Beverage despite Q3 revenue +0.75% and net profit -7.8%2026-10-31 · Huatai Securities · 605499.SHSangfor Q3 2026: revenue +31.45%, net profit +134.31%; Huachuang keeps Strong Buy, TP CNY 1702026-10-31 · Huachuang Securities · 300454.SZSichuan Chengyu: 26Q3 net profit +2%, Jingyi consolidation buffers expiry losses; Strong Buy, TP CNY 8.312026-10-31 · Huachuang Securities · 601107.SHGF Securities: asset management strength stands out, prop trading under pressure; target CNY 26.632026-10-31 · Huachuang Securities · 000776.SZZhongke Jiangnan: fiscal AI rollout to drive profit turnaround; Huatai keeps Buy, TP CNY21.672026-10-31 · Huatai Securities · 301153.SZMuyuan Foods: hog costs keep falling, Q3 operating cash flow turns positive; Buy, TP CNY 52.002026-10-31 · Huatai Securities · 002714.SZHuaneng Power: Q3 2026 tariff up 1.66% but coal price rise sinks net profit 77.8%; Buy kept2026-10-31 · GF Securities · 600011.SHThree Gorges Tourism: in-province price hikes underpin base, inter-provincial cruises add growth; 2026E net profit +143%2026-10-31 · Soochow Securities · 002627.SZHonglu Steel Structure: 9M26 net profit +40% yoy; Huatai maintains Buy, TP CNY 27.192026-10-31 · Huatai Securities · 002541.SZAoni Electronics initiated Buy: AI computing power drives 9M26 revenue up 159.75%2026-10-31 · Founder Securities · 301189.SZCPIC 9M26 NBV -6.5% as Q3 slides 38.1%; operating profit +5.6%, Strong Buy kept2026-10-31 · China Merchants Securities · 601601.SHGeely Auto 3Q26 core profit up 32% on premium and export surge; Overweight, TP HKD32.862026-10-31 · Guotai Haitong Securities · 0175.HKCGN Power: Q3 net profit jumps 36% on new units; GF Securities keeps Buy, CNY 5.49 fair value2026-10-31 · GF Securities · 003816.SZChangchuan Technology: 26Q3 profit up 83% YoY, platform build-out leverages test-equipment upcycle; Buy, TP CNY 191.892026-10-31 · GF Securities · 300604.SZKede Numerical Control Q3 swings to loss on export curbs; Huatai keeps Buy, TP CNY54.242026-10-31 · Huatai Securities · 688305.SHHuaneng Mengdian: Q3 power volume and price still under pressure, coal price keeps improving2026-10-31 · GF Securities · 600863.SHBloomage Biotech Q3 non-recurring profit jumps 165% YoY, turning point confirmed; Buy, FV CNY 36.572026-10-31 · GF Securities · 688363.SHLomon Billions: Q3 gross margin rises 5.6pct to 25.1% on ferrous sulfate, chloride TiO2; Overweight2026-10-31 · Huatai Securities · 002601.SZCOSCO Shipping Specialized Carriers: Q3 net profit +147% YoY on fleet expansion, Overweight2026-10-31 · GF Securities · 600428.SHTranswarp: 9M26 revenue up 19.6%, GPU-native cognitive database commercialization near2026-10-31 · GF Securities · 688031.SHGF Securities keeps Buy on Sanfeng Environment; Hong Kong I·PARK2 contract signed2026-10-31 · GF Securities · 601827.SHJinjiang Shipping: Q3 per-TEU revenue up ~15.5%, Southeast Asia network expansion continues2026-10-31 · GF Securities · 601083.SHBloomage Biotech: Q3 non-recurring profit up 165% as expense ratios fall; Overweight, TP CNY 38.992026-10-31 · Guotai Haitong Securities · 688363.SHCofoe Medical: 3Q26 revenue +24.1% yoy, Huatai keeps Buy, CNY 70.53 target2026-10-31 · Huatai Securities · 301087.SZEoptolink: strong demand drives 92.97% 9M26 revenue growth; Huatai keeps Buy, cuts TP to CNY 453.412026-10-31 · Huatai Securities · 300502.SZVanchip: memory price hikes sap phone demand; 3Q26 revenue -23.3% yoy, Buy kept2026-10-31 · Huatai Securities · 688153.SHZijin Bank: NIM extends rebound to 1.11%, revenue decline narrows; Overweight, fair value CNY 2.922026-10-31 · GF Securities · 601860.SHAIA Group: Q3 NBV falls 4.1% on high base, GF Securities keeps Buy at HKD 101.40 fair value2026-10-31 · GF Securities · 1299.HKLuzhou Laojiao: 3Q26 revenue -37.1%, profit -57.0% on destocking; Buy, fair value CNY 95.612026-10-31 · GF Securities · 000568.SZEastroc Beverage: Q3 revenue growth slows to 0.8%, operating bottom with recovery expected; Buy2026-10-31 · GF Securities · 605499.SHHaohua Technology Q3 net profit falls 20.81% on weaker refrigerant sales; Huatai keeps Overweight, cuts TP to CNY 37.402026-10-31 · Huatai Securities · 600378.SHGeely Auto Q3 core net profit rises 32.5% to CNY5.21bn; GF Securities keeps Buy, HK$27.21 fair value2026-10-31 · GF Securities · 0175.HKBohai Leasing: Q3 net profit jumps 99% YoY, Buy maintained with CNY 6.79 fair value2026-10-31 · GF Securities · 000415.SZCIG Shanghai 26Q3 revenue up 67% and net profit up 213% on high-speed optical modules; Buy maintained2026-10-31 · Everbright Securities · 6166.HKChina Life 9M26: reported profit -46.7% but +15.8% ex-equity swings; NBV +13.1%, Buy maintained2026-10-31 · Zhongtai Securities · 601628.SHKorrun Q3 revenue -3.1% but net profit +11.9% on cost control; Huaxi cuts 2026-28 forecasts, keeps Buy2026-10-30 · Huaxi Securities · 300577.SZNinebot Q3 profit falls 37.2% on raw materials and FX; buyback doubled and to be cancelled2026-10-30 · Guotai Haitong Securities · 689009.SHSenqi: 26Q3 earnings bottomed on cost pass-through lag; Morocco ramp and Turkey to drive 2027-28 growth2026-10-30 · Zhongtai Securities · 002984.SZPing An 9M26: OPAT up 8.3% but NBV falls 13.3% and comprehensive investment yield drops 3.1pp2026-10-30 · Huaxi Securities · 601318.SHYingboer 3Q26 revenue +61.25% on export ramp; margin squeeze drags profit, Buy kept2026-10-30 · Huachuang Securities · 300681.SZBull Group keeps Overweight at Orient Securities; TP cut to CNY 42.2 on copper-driven margin pressure2026-10-30 · Orient Securities · 603195.SHBros Eastern: Q3 net profit doubles ex-investment income; Buy maintained2026-10-30 · Huaxi Securities · 601339.SHMidea Group: Q3 net margin +3.3ppt on overseas strength; Buy maintained2026-10-30 · Guotou Securities · 000333.SZBank of Suzhou 26Q3: revenue +12.8%, net profit +8.1%; Buy maintained, TP CNY 9.742026-10-30 · Orient Securities · 002966.SZAnfu Technology: Q3 net profit +65% on higher Nanfu stake; Overweight, TP CNY45.202026-10-30 · Guotai Haitong Securities · 603031.SHGuoke Tiancheng Q3 revenue jumps 96% as uncooled IR orders land; Guosen keeps Outperform2026-10-30 · Guosen Securities · 301571.SZQinghai Salt Lake: Q3 net profit up 31.4% YoY on potash-lithium synergy; Buy maintained2026-10-30 · Kaiyuan Securities · 000792.SZZiel Home: 26Q3 revenue jumps 37% on category expansion; gross-to-selling spread and operating margin keep rising2026-10-30 · CSC Financial · 301376.SZChuanzhi Education: AI training demand drives turnaround, 9M26 net profit CNY 78m vs year-ago loss2026-10-30 · Guosen Securities · 003032.SZXingye Yinxi Q3 net profit -53% YoY on Yinman mine halt; Guosen keeps Outperform2026-10-30 · Guosen Securities · 000426.SZZhejiang Natural: Q3 revenue inflection, CNY210mn bet on single-crystal substrates2026-10-30 · Huaxi Securities · 605080.SHCPIC Q3 2026: OPAT up 5.6% but NBV down 6.5% and net profit down 20.3%; Buy maintained2026-10-30 · Huaxi Securities · 601601.SHInnovent Biologics: Huatai keeps Buy, TP HKD 129.54; Q3 product sales CNY 4.7bn, up over 40% YoY2026-10-30 · Huatai Securities · 1801.HKGuosheng initiates Junshi Biosciences at Buy, PT CNY 40.56 on IO2.0+ADC pipeline and toripalimab ramp2026-10-30 · Guosheng Securities · 688180.SHBeijing Lier: refractories underpin steady growth, silicon-carbon anode and zirconium materials add upside2026-10-30 · China Merchants Securities · 002392.SZHuatai keeps Buy on Hangzhou Oxygen Plant; Q3 gross margin up 3.26pct, TP cut to CNY 31.182026-10-30 · Huatai Securities · 002430.SZHaixing: Sichuan power cost rise dents near-term profit; Buy kept, TP cut to CNY 99.302026-10-30 · Huatai Securities · 603115.SHShanxi Coking Coal Q3 net profit +86% YoY, Q4 output recovery; Overweight, TP CNY7.102026-10-30 · Huatai Securities · 000983.SZYanghe Brewery: Q3 revenue -61% YoY as destocking drags on; Huatai keeps Buy, TP CNY 42.162026-10-30 · Huatai Securities · 002304.SZBailong Chuangyuan: dietary fiber ramp lifts Q3 revenue 16.9%, Huatai keeps Buy with CNY21.42 target2026-10-30 · Huatai Securities · 605016.SHUnisplendour 9M26 net profit +98% YoY; maintain Overweight on AI ICT demand2026-10-30 · Huatai Securities · 000938.SZKanion Pharmaceutical: 3Q26 revenue +9%, net profit +12%; Huatai keeps Buy, TP CNY 17.682026-10-30 · Huatai Securities · 600557.SHShunxin Agriculture: soft baijiu demand, low hog prices drag Q3 revenue -20%; Overweight, TP CNY 12.192026-10-30 · Huatai Securities · 000860.SZAir China 3Q26 net profit plunges 92.6% as weak fuel-cost pass-through; Buy maintained2026-10-30 · Huatai Securities · 601111.SHWindey: turbine margin recovery in focus; Huatai maintains Overweight, cuts TP to CNY 9.382026-10-30 · Huatai Securities · 300772.SZGujing Distillery: 26Q3 proactive destocking clears channels; net profit -68% YoY, Buy, TP CNY 111.102026-10-30 · Huatai Securities · 000596.SZFortune Precision: 3Q26 revenue up 47.3% yoy, net profit up 292.8% yoy; Buy maintained2026-10-30 · Huatai Securities · 688409.SHHuatai keeps Buy on China Merchants Shekou, sees profit repair after 2026 margin trough2026-10-30 · Huatai Securities · 001979.SZNanjing Cosmos Chemical Q3 net profit +164% yoy; Huatai keeps Buy, cuts TP to CNY 12.512026-10-30 · Huatai Securities · 300856.SZXuji Electric Q3 profit falls 30.89% on low-price order deliveries; Huatai keeps Buy, target CNY 25.272026-10-30 · Huatai Securities · 000400.SZGuangzhou Restaurant 3Q26 revenue +9.14% on strong mooncake season; Overweight, TP CNY16.212026-10-30 · Huatai Securities · 603043.SHGuyuelongshan: Q3 revenue flat at CNY 294m as premiumisation push continues; Buy, TP CNY 10.902026-10-30 · Huatai Securities · 600059.SHYiling Pharma: 3Q26 revenue and profit keep recovering; Huatai keeps Buy, CNY 19.62 target2026-10-30 · Huatai Securities · 002603.SZTCL Zhonghuan Q3 loss narrows as gross margin rebounds; Huatai keeps Buy, TP CNY 14.432026-10-30 · Huatai Securities · 002129.SZDongfang Electric keeps Buy; G50 gas turbine wins 30-unit Canadian data-centre deal2026-10-30 · Huatai Securities · 600875.SHDazhong Mining Q3 net profit up 4.12% YoY; GF Securities keeps Buy, fair value CNY 20.6 on lithium ramp-up2026-10-30 · GF Securities · 001203.SZBank of Hangzhou: 26Q3 revenue growth picks up to 5.5%, NPL steady at 0.76%, Buy with TP CNY 19.742026-10-30 · Orient Securities · 600926.SHBank of Nanjing 26Q3: revenue growth accelerates to 12.5%, provisions thickened; Buy, TP CNY 13.532026-10-30 · Orient Securities · 601009.SHAnker Innovations Q3 adjusted profit +61.2% YoY, beats; Strong Buy maintained with CNY 170 target2026-10-30 · Huachuang Securities · 300866.SZM&G Stationery Q3 revenue +2.6% but net profit -6.4%; Huatai keeps Overweight, TP CNY 30.592026-10-30 · Huatai Securities · 603899.SHSunresin 3Q26 revenue +16.39% YoY, net profit +9.12%; Strong Buy, TP CNY 86.722026-10-30 · Huachuang Securities · 300487.SZSemir Garment Q3 revenue growth slows to 0.36%, net profit up 0.14%; Huaxi keeps Buy2026-10-30 · Huaxi Securities · 002563.SZCCCC 9M26 net profit falls 29.8% on margin squeeze and FX losses; interim dividend declared2026-10-30 · China Securities (CSC Financial) · 601800.SHEVE Energy 26Q3 gross margin recovers QoQ, power/storage shipments stay high-growth; Strong Buy, TP CNY70.292026-10-30 · Huachuang Securities · 300014.SZChongqing Rural Commercial Bank: Q3 investment gains accelerate revenue, provision release lifts profit2026-10-30 · Huachuang Securities · 601077.SHMao Geping Q3 revenue up 22-24% YoY; Huaxi keeps Buy on premium brand resilience2026-10-30 · Huaxi Securities · 1318.HKNAURA Q3 revenue up 1.31% YoY, in line; new orders surge; Huaxi keeps Overweight2026-10-30 · Huaxi Securities · 002371.SZUGREEN 9M26 net profit up 50.66%; Q3 profit +41.73% as NAS and Home Agent products iterate2026-10-30 · China Securities (CSC Financial) · 301606.SZSanfo Outdoor: Q3 slows on CRISPI, X-BIONIC still up 51% in 9M26; Buy maintained2026-10-30 · Huaxi Securities · 002780.SZZhiou Technology: Q3 revenue up 37% and net profit up 59% on Amazon model shift and new products2026-10-30 · SDIC Securities · 301376.SZNew Hope Dairy Q3 2026: resilient core business, tax drag on profit; Strong Buy, TP CNY 192026-10-30 · Huachuang Securities · 002946.SZVatti initiated Buy: Q3 revenue -10.2% YoY, net profit -49.6%, target CNY 4.982026-10-30 · SDIC Securities · 002035.SZLu'an Environmental Energy: Q3 output slump drags profit, Q4 upturn seen; Overweight kept2026-10-30 · Orient Securities · 601699.SH