External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>1H Group sales growth of 20.5% cFX slightly disappointed, considering 22.2% YoY growth in 1Q, when retail sales growth descended QoQ from 21.1% in 1Q to 14.7% in 2Q.</li><li>Growth in Miu Miu remained eye-catching, with net sales in 2Q further accelerating at 57.3% YoY from 41.9% YoY in 1Q, thanks to the brand’s higher exposure in China and Asia. By region, Japan was the best performing region and grew 49.2% YoY, benefitting from a refreshed retail network and elevating inbound tourist flow.</li><li>Growth in APAC was 25.3% YoY and that of Europe was 24.2% YoY. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

1H Group sales growth of 20.5% cFX slightly disappointed, considering 22.2% YoY growth in 1Q, when retail sales growth descended QoQ from 21.1% in 1Q to 14.7% in 2Q.Growth in Miu Miu remained eye-catching, with net sales in 2Q further accelerating at 57.3% YoY from 41.9% YoY in 1Q, thanks to the brand’s higher exposure in China and Asia. By region, Japan was the best performing region and grew 49.2% YoY, benefitting from a refreshed retail network and elevating inbound tourist flow.Growth in APAC was 25.3% YoY and that of Europe was 24.2% YoY. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Prada SpA (1913 HK) – A Decent 1H, Though Not a Straight Beat

Prada S.P.A.

Prada SpA (1913 HK) – A Decent 1H, Though Not a Straight Beat