External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

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.

Thematic (Sector/Industry)

<ul><li>China online game market revenue decreased by 10% YoY to RMB266bn in 2022 (2021: +6% YoY), as per CNG.</li><li>Apart from high base impact, the main causes were the suspension of game license approval and strengthening minor protection.</li><li>4Q22 China online gaming revenue continued to decline by 2% QoQ and 19% YoY to RMB58bn (3Q22: -19% YoY). </li></ul>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.

China online game market revenue decreased by 10% YoY to RMB266bn in 2022 (2021: +6% YoY), as per CNG.Apart from high base impact, the main causes were the suspension of game license approval and strengthening minor protection.4Q22 China online gaming revenue continued to decline by 2% QoQ and 19% YoY to RMB58bn (3Q22: -19% 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.

China Internet – 2022 online game market recap

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>DingTalk /: Alibaba’s DingTalk hits 15 million paying users as it tries to climb out of the red</li><li>Flights /: China drops Covid curbs on international flights</li><li>Personnel /: China appoints new Taiwan Affairs Office head</li></ul>

DingTalk /: Alibaba’s DingTalk hits 15 million paying users as it tries to climb out of the redFlights /: China drops Covid curbs on international flightsPersonnel /: China appoints new Taiwan Affairs Office head

CX Daily: Alibaba’s DingTalk Hits 15 Million Paying Users As It Tries To Climb Out Of The Red

<ul>
<li>Covid-19 /: After China’s Covid U-turn, a ‘tsunami’ of infected strip bare pharmacy shelves</li>
<li>Economy /: China’s economy won’t get back to normal until ‘wartime’ Covid controls end, expert says</li>
<li>Hong Kong /: Hong Kong plans to reopen border with mainland in weeks</li>
</ul>


Covid-19 /: After China’s Covid U-turn, a ‘tsunami’ of infected strip bare pharmacy shelves
Economy /: China’s economy won’t get back to normal until ‘wartime’ Covid controls end, expert says
Hong Kong /: Hong Kong plans to reopen border with mainland in weeks


CX Daily: After China’s Covid U-Turn, A ‘Tsunami’ Of Infected Strip Bare Pharmacy Shelves

Social relief /: Why China’s social relief efforts have fallen short
Vaccines /: Germans will soon be able to access BioNTech shot on mainland, ambassador says
China-Australia /: China, Australia pledge to refresh soured relations

Social relief /: Why China’s social relief efforts have fallen short
Vaccines /: Germans will soon be able to access BioNTech shot on mainland, ambassador says
China-Australia /: China, Australia pledge to refresh soured relations

CX Daily: Why China’s Social Relief Efforts Have Fallen Short

Asia biased macro & technical analysis, Untying The Gordian Knot

Untying The Gordian Knot

Asia biased macro & technical analysis

A differentiated process with a primary focus on Asia. Technical Analysis as core and Macro drivers that could bring the view to fruition & changes that could make the idea fall apart. The objective is to be the best in class, hence corner shop.

Technical Analysis

<ul><li>Holiday Volume and excessive price actions make market analysis less than helpful. HSI daily shares traded volume on 21st was the lowest year to date.</li><li>Thursday saw a pick-up in volume. Word on easing Covid restrictions for international travelers, reopening HK-China Border in January, and a higher close in the US market brought outsized gains.</li><li>The stock was up 4.12% and had the heaviest volume on HKEX on the 22nd, yet the stock volume was well below 21 days' average volume.</li></ul>

Holiday Volume and excessive price actions make market analysis less than helpful. HSI daily shares traded volume on 21st was the lowest year to date.Thursday saw a pick-up in volume. Word on easing Covid restrictions for international travelers, reopening HK-China Border in January, and a higher close in the US market brought outsized gains.The stock was up 4.12% and had the heaviest volume on HKEX on the 22nd, yet the stock volume was well below 21 days' average volume.

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent Holdings (ADR) (TCEHY US)

China Internet – 2022 online game market recap

China online game market revenue decreased by 10% YoY to RMB266bn in 2022 (2021: +6% YoY), as per CNG. Apart from high base impact, the main causes...

CMB International

CX Daily: Alibaba’s DingTalk Hits 15 Million Paying Users As It Tries To Climb Out Of The Red

Alibaba’s DingTalk hits 15 million paying users as it tries to climb out of the red. China drops Covid curbs on international flights.China...

Caixin Global

CX Daily: After China’s Covid U-Turn, A ‘Tsunami’ Of Infected Strip Bare Pharmacy Shelves

After China’s Covid U-turn, a ‘tsunami’ of infected strip bare pharmacy shelves. China’s economy won’t get back to normal until ‘wartime’ Covid...

Caixin Global

Hang Seng Index and Tencent

Holiday Volume and excessive price actions make market analysis less than helpful. HSI daily shares traded volume on 21st was the lowest year to date.

Untying The Gordian Knot

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

China Internet – 2022 online game market recap

China online game market revenue decreased by 10% YoY to RMB266bn in 2022 (2021: +6% YoY), as per CNG. Apart from high base impact, the main causes...

CMB International

CX Daily: Alibaba’s DingTalk Hits 15 Million Paying Users As It Tries To Climb Out Of The Red

Alibaba’s DingTalk hits 15 million paying users as it tries to climb out of the red. China drops Covid curbs on international flights.China...

Caixin Global

CX Daily: After China’s Covid U-Turn, A ‘Tsunami’ Of Infected Strip Bare Pharmacy Shelves

After China’s Covid U-turn, a ‘tsunami’ of infected strip bare pharmacy shelves. China’s economy won’t get back to normal until ‘wartime’ Covid...

Caixin Global

CX Daily: Why China’s Social Relief Efforts Have Fallen Short

Why China’s social relief efforts have fallen short. Germans will soon be able to access BioNTech shot on mainland, ambassador says. China,...

Caixin Global

Hang Seng Index and Tencent

Holiday Volume and excessive price actions make market analysis less than helpful. HSI daily shares traded volume on 21st was the lowest year to date.

Untying The Gordian Knot