Ratings by CLSA (Ethan Wang)
| Date | Company | Symbol | Type | Rating (Past) |
PT (Past) |
Start $ (End $) |
% Chg. | Details |
|---|---|---|---|---|---|---|---|---|
| 6/1/2026 | Chagee Holdings | CHA | New Coverage | Hold (3) (N/A) |
10.16 (12.14) |
19.49% | Details | |
| 1/2/2026 | Atour Lifestyle Holdings | ATAT | New Coverage | Outperform (2) (N/A) |
39.40 (32.13) |
-18.45% | Details | |
| 11/25/2025 | Yum China Holdings | YUMC | Maintain | Outperform (2) (N/A) |
|
Details | ||
| 1/6/2025 | Luckin Coffee | LKNCY | New Coverage | Underperform (4) (N/A) |
26.50 (29.11) |
9.85% | Details | |
| 2/15/2024 | Yum China Holdings | YUMC | Downgrade | (High-Conviction Outperform (1)) |
40.38 (40.85) |
1.16% | Details | |
| 9/15/2023 | Yum China Holdings | YUMC | Upgrade | High-Conviction Outperform (1) (Underperform (4)) |
56.08 (40.85) |
-27.16% | Details | |
| 1/9/2023 | Yum China Holdings | YUMC | Downgrade | Underperform (4) (High-Conviction Outperform (1)) |
58.02 (40.85) |
-29.59% | Details | |
| 11/11/2022 | Futu Holdings Limited | FUTU | Upgrade | High-Conviction Outperform (1) (High-Conviction Underperform (5)) |
42.11 (96.40) |
128.92% | Details | |
| 9/1/2022 | Futu Holdings Limited | FUTU | Upgrade | High-Conviction Underperform (5) (Hold (3)) |
45.89 (96.40) |
110.07% | Details | |
| 8/19/2022 | LexinFintech Holdings (ADR) | LX | Upgrade | High-Conviction Underperform (5) (Hold (3)) |
2.22 (1.95) |
-12.16% | Details | |
| 6/6/2022 | Futu Holdings Limited | FUTU | Downgrade | Hold (3) (High-Conviction Underperform (5)) |
36.86 (96.40) |
161.53% | Details | |
| 3/13/2022 | Futu Holdings Limited | FUTU | Downgrade | High-Conviction Underperform (5) (Underperform (4)) |
28.21 (96.40) |
241.72% | Details | |
| 11/26/2021 | Futu Holdings Limited | FUTU | Downgrade | Underperform (4) (High-Conviction Outperform (1)) |
54.31 (96.40) |
77.5% | Details | |
| 10/18/2021 | Futu Holdings Limited | FUTU | New Coverage | High-Conviction Outperform (1) (N/A) |
73.81 (96.40) |
30.61% | Details | |
| 8/22/2021 | 360 Finance | QFIN | Maintain | High-Conviction Outperform (1) (N/A) |
|
Details | ||
| 3/16/2021 | 360 Finance | QFIN | Maintain | High-Conviction Outperform (1) (High-Conviction Outperform (1)) |
|
Details | ||
| 3/9/2021 | LexinFintech Holdings (ADR) | LX | Maintain | High-Conviction Outperform (1) (High-Conviction Outperform (1)) |
|
Details | ||
| 3/9/2021 | 360 Finance | QFIN | Maintain | High-Conviction Outperform (1) (High-Conviction Outperform (1)) |
|
Details | ||
| 1/26/2021 | LexinFintech Holdings (ADR) | LX | Upgrade | High-Conviction Outperform (1) (Underperform (4)) |
7.19 (1.95) |
-72.88% | Details | |
| 7/16/2020 | LexinFintech Holdings (ADR) | LX | New Coverage | Underperform (4) (N/A) |
11.40 (7.19) |
-36.93% | Details | |
| 7/16/2020 | 360 Finance | QFIN | New Coverage | High-Conviction Outperform (1) (N/A) |
14.73 (15.81) |
7.33% | Details |

