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Atour Lifestyle Holdings LimitedNasdaqGS:ATAT Stock Report

Market Cap US$4.7b
Share Price
US$33.17
US$50.48
34.3% undervalued intrinsic discount
1Y4.8%
7D0.2%
1D
Portfolio Value
View

Atour Lifestyle Holdings Limited

NasdaqGS:ATAT Stock Report

Market Cap: US$4.7b

Atour Lifestyle Holdings (ATAT) Stock Overview

Through its subsidiaries, develops lifestyle brands in the People’s Republic of China. More details

ATAT fundamental analysis
Snowflake Score
Valuation6/6
Future Growth3/6
Past Performance5/6
Financial Health6/6
Dividends3/6

ATAT Community Fair Values

Create Narrative

See what 182 others think this stock is worth. Follow their fair value or set your own to get alerts.

Atour Lifestyle Holdings Limited Competitors

Price History & Performance

Summary of share price highs, lows and changes for Atour Lifestyle Holdings
Historical stock prices
Current Share PriceUS$33.17
52 Week HighUS$43.17
52 Week LowUS$29.81
Beta0.63
1 Month Change-13.28%
3 Month Change-10.42%
1 Year Change4.84%
3 Year Change92.18%
5 Year Changen/a
Change since IPO157.53%

Recent News & Updates

Seeking Alpha Jun 04

Atour Lifestyle: Promising Prospects For Hotel And Retail Businesses

Summary Atour Lifestyle Holdings Limited remains a 'Buy,' as both its hospitality and retail segments show strong forward momentum. Atour's hotels division is well-positioned to maintain positive RevPAR growth in the near term on the back of external and internal tailwinds. Management recently raised the retail segment's FY26 topline growth guidance by 5ppts to +32.5%; this is achievable considering further product category penetration and cross-selling synergies. Read the full article on Seeking Alpha
Narrative Update Jun 04

ATAT: Retail Expansion And Dividend Policy Will Support 30 Day Catalyst Watch

Analysts have nudged their fair value estimate for Atour Lifestyle Holdings higher to about $50.48 from $49.80, citing a slightly lower discount rate, modest adjustments to revenue growth and profit margin assumptions, and updated future P/E expectations, along with recent research that includes a 30 day upside catalyst watch and a $1 trim in one firm's price target to $46. Analyst Commentary Bullish Takeaways Bullish analysts point to Q4 revenue that was largely in line with expectations, which they view as supportive of the revised fair value and current P/E assumptions.
New Narrative May 26

Atour combines an asset-light hotel expansion model with strong brand positioning and a fast-scaling retail ecosystem.

COPILOT INVESTMENT MEMO – ATOUR LIFESTYLE HOLDINGS LIMITED (NASDAQ: ATAT) 1. Executive Summary Atour Lifestyle Holdings Limited (“Atour”) is a leading lifestyle hospitality group in China, operating a rapidly growing network of upper-midscale to upscale hotels complemented by a high-growth retail business.

Recent updates

Seeking Alpha Jun 04

Atour Lifestyle: Promising Prospects For Hotel And Retail Businesses

Summary Atour Lifestyle Holdings Limited remains a 'Buy,' as both its hospitality and retail segments show strong forward momentum. Atour's hotels division is well-positioned to maintain positive RevPAR growth in the near term on the back of external and internal tailwinds. Management recently raised the retail segment's FY26 topline growth guidance by 5ppts to +32.5%; this is achievable considering further product category penetration and cross-selling synergies. Read the full article on Seeking Alpha
Narrative Update Jun 04

ATAT: Retail Expansion And Dividend Policy Will Support 30 Day Catalyst Watch

Analysts have nudged their fair value estimate for Atour Lifestyle Holdings higher to about $50.48 from $49.80, citing a slightly lower discount rate, modest adjustments to revenue growth and profit margin assumptions, and updated future P/E expectations, along with recent research that includes a 30 day upside catalyst watch and a $1 trim in one firm's price target to $46. Analyst Commentary Bullish Takeaways Bullish analysts point to Q4 revenue that was largely in line with expectations, which they view as supportive of the revised fair value and current P/E assumptions.
New Narrative May 26

Atour combines an asset-light hotel expansion model with strong brand positioning and a fast-scaling retail ecosystem.

COPILOT INVESTMENT MEMO – ATOUR LIFESTYLE HOLDINGS LIMITED (NASDAQ: ATAT) 1. Executive Summary Atour Lifestyle Holdings Limited (“Atour”) is a leading lifestyle hospitality group in China, operating a rapidly growing network of upper-midscale to upscale hotels complemented by a high-growth retail business.
Narrative Update Apr 25

ATAT: Retail Expansion And Buybacks Will Support Upcoming 30 Day Catalyst

Analysts have made a small upward adjustment to their fair value estimate for Atour Lifestyle Holdings to about $49.80, reflecting updated assumptions on discount rate, revenue growth, profit margins, and future P/E after recent research that cited healthy but moderating retail growth and a fresh 30 day upside catalyst watch. Analyst Commentary Bullish Takeaways Bullish analysts point to Q4 revenue that was largely in line with expectations, which they view as supportive of the updated fair value work rather than a reason to mark estimates sharply lower.
Narrative Update Apr 10

ATAT: Retail Expansion And Buybacks Will Drive Upcoming Upside Catalyst

Narrative update Analysts have trimmed their average price target on Atour Lifestyle by $1 to $46, reflecting slightly adjusted P/E and discount rate assumptions. The revised target still points to in-line Q4 revenue, better than expected adjusted EBITDA, and guidance for 25% to 30% retail revenue growth for the coming year.
Narrative Update Mar 27

ATAT: Retail Execution And Share Repurchases Will Support Further Upside

Narrative Update on Atour Lifestyle Holdings The analyst price target for Atour Lifestyle Holdings has been revised slightly lower to $46. This reflects analysts' updated assumptions for somewhat softer revenue growth, a modestly lower profit margin, a slightly reduced discount rate, and a marginally higher future P/E after Q4 results that were roughly in line with expectations.
Narrative Update Mar 12

ATAT: Higher Discount Rate And Refined Assumptions Will Support Further Upside

Analysts have slightly increased their price target on Atour Lifestyle Holdings to about $49.67 from roughly $49.61, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E as the basis for the small adjustment. Valuation Changes Fair Value: $49.61 to $49.67, a slight upward adjustment in the modelled valuation.
Narrative Update Feb 25

ATAT: Lower Discount Rate And Stable Margins Will Support Further Upside

Analysts made a slight upward adjustment to their price target for Atour Lifestyle Holdings to $49.61, reflecting minor tweaks to fair value assumptions, the discount rate, and future P/E expectations. Valuation Changes Fair Value: $49.59 to $49.61, a very small upward adjustment in the modeled estimate.
Narrative Update Feb 10

ATAT: Expanded Hotel Network And Sleep Retail May Support Further Upside

Narrative Update The analyst price target for Atour Lifestyle Holdings has moved modestly higher to about $49.59 from $48.88, as analysts factor in recent Q3 beats, raised revenue guidance to about 35% growth, and continued hotel and sleep-focused retail expansion into their slightly higher long term growth and P/E assumptions. Analyst Commentary Recent research on Atour Lifestyle Holdings points to generally constructive sentiment, with analysts highlighting both growth opportunities and execution risks that could influence how the current valuation is viewed.
Narrative Update Jan 27

ATAT: Expanding Hotel Network And Sleep Retail Should Support Future Upside

Narrative Update on Atour Lifestyle Holdings The analyst price target for Atour Lifestyle Holdings has moved higher to US$48.88 from US$47.61, as analysts point to stronger recent revenue and profit metrics, raised revenue guidance of around 35% year over year, and continued hotel and sleep-focused retail expansion as key supports for their updated assumptions. Analyst Commentary Recent research updates give you a clearer view of how the Street is thinking about Atour Lifestyle Holdings, with several analysts lifting price targets and pointing to both opportunity and execution risks.
Narrative Update Jan 08

ATAT: Expanding Hotel And Retail Network Will Support Future Sleep Economy Upside

Narrative Update Overview The analyst price target for Atour Lifestyle Holdings has inched higher to just under US$48, as analysts factor in recent target increases to US$44 to US$45, stronger Q3 revenue and profit figures, higher full year and 2025 revenue guidance at about 35% y/y, and ongoing hotel and sleep focused retail expansion in their assumptions. Analyst Commentary Recent Street research around Atour Lifestyle focuses on its recent operating results, updated guidance, and positioning in China's hotel and sleep related retail markets.
Narrative Update Dec 25

ATAT: Expanding Hotel Network Will Drive Sleep Economy Upside Next Year

Analysts have nudged their price target for Atour Lifestyle Holdings slightly higher to around $47.16 per share from approximately $47.01, citing stronger than expected Q3 revenue and profit growth, raised 2025 revenue guidance, and continued momentum in hotel expansion and sleep focused retail offerings. Analyst Commentary Recent Street research remains broadly constructive on Atour Lifestyle Holdings, with multiple price target increases and fresh initiations underscoring confidence in the company’s growth trajectory and positioning in China’s sleep focused hospitality and retail market.
Analysis Article Dec 22

Is Now An Opportune Moment To Examine Atour Lifestyle Holdings Limited (NASDAQ:ATAT)?

Atour Lifestyle Holdings Limited ( NASDAQ:ATAT ), might not be a large cap stock, but it saw a decent share price...
Narrative Update Dec 11

ATAT: Expanding Hotel Network Will Drive Sleep Economy Upside In 2025

Analysts nudged their blended price target for Atour Lifestyle modestly higher by about $0.45 per share, citing stronger than expected Q3 growth, upgraded revenue guidance of roughly 35% year over year, and continued expansion in both hotel operations and sleep focused retail offerings. Analyst Commentary Analyst commentary around Atour Lifestyle remains overwhelmingly constructive, with recent coverage highlighting robust execution in both hotel operations and the broader sleep economy, alongside raised price targets and guidance upgrades.
Analysis Article Nov 28

Earnings Miss: Atour Lifestyle Holdings Limited Missed EPS By 66% And Analysts Are Revising Their Forecasts

The quarterly results for Atour Lifestyle Holdings Limited ( NASDAQ:ATAT ) were released last week, making it a good...
Narrative Update Nov 27

ATAT: Expanding Hotel Network Will Accelerate Retail Momentum In 2025

Analysts have raised their price target for Atour Lifestyle Holdings from $43.77 to $46.57. This change reflects confidence in the company’s robust revenue growth, margin improvements, and expanding hotel and retail operations.
Narrative Update Nov 09

ATAT: Demand Surge Will Drive Sleep Solutions Brand Momentum in 2025

Analysts have slightly lowered their price target for Atour Lifestyle Holdings from $43.79 to $43.77, as they cite anticipated robust growth in the company's innovative sleep solutions and sustained demand for key product lines. Analyst Commentary Recent street research highlights both positive outlooks and cautionary notes as analysts reassess Atour Lifestyle Holdings' growth trajectory and current valuation.
Narrative Update Oct 26

Sleep Product Demand And Digital Expansion Will Drive Hospitality Momentum In 2025

Analysts have raised their price target for Atour Lifestyle Holdings from $43.09 to $43.79, citing strong demand for the company's sleep products and anticipation of significant growth in gross merchandise volume next year. Analyst Commentary Bullish analysts have expressed renewed confidence in Atour Lifestyle Holdings, reflecting on both the company's current achievements and its potential for further growth.
Analysis Article Oct 10

Here's Why Atour Lifestyle Holdings (NASDAQ:ATAT) Has Caught The Eye Of Investors

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Narrative Update Sep 20

Chinese Hotel Expansion And Digital Retail Will Drive Hospitality Success

The consensus price target for Atour Lifestyle Holdings has increased, primarily driven by a sharp decline in the forward P/E and a modest improvement in forecast revenue growth, raising the fair value estimate from $42.02 to $43.09. What's in the News Atour Lifestyle Holdings expects full-year 2025 net revenues to increase by 30% over 2024, based on current market conditions and preliminary estimates.
Analysis Article Aug 28

Atour Lifestyle Holdings Limited Just Missed EPS By 66%: Here's What Analysts Think Will Happen Next

Investors in Atour Lifestyle Holdings Limited ( NASDAQ:ATAT ) had a good week, as its shares rose 8.1% to close at...
Narrative Update Aug 28

Chinese Hotel Expansion And Digital Retail Will Drive Hospitality Success

The marked decline in Atour Lifestyle Holdings’ future P/E multiple, despite steady revenue growth expectations, has driven a modest increase in the consensus analyst price target from $40.22 to $41.06. What's in the News Company expects full-year 2025 net revenues to increase by 30% versus 2024, based on preliminary estimates.
Analysis Article Aug 05

At US$34.63, Is It Time To Put Atour Lifestyle Holdings Limited (NASDAQ:ATAT) On Your Watch List?

Atour Lifestyle Holdings Limited ( NASDAQ:ATAT ), is not the largest company out there, but it received a lot of...
Analysis Article Jul 03

Returns on Capital Paint A Bright Future For Atour Lifestyle Holdings (NASDAQ:ATAT)

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Analysis Article May 08

Does Atour Lifestyle Holdings (NASDAQ:ATAT) Deserve A Spot On Your Watchlist?

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
Analysis Article Apr 12

Not Many Are Piling Into Atour Lifestyle Holdings Limited (NASDAQ:ATAT) Stock Yet As It Plummets 27%

Atour Lifestyle Holdings Limited ( NASDAQ:ATAT ) shares have had a horrible month, losing 27% after a relatively good...
Analysis Article Feb 16

Atour Lifestyle Holdings (NASDAQ:ATAT) Is Very Good At Capital Allocation

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Typically, we'll...
Seeking Alpha Jan 29

Atour Lifestyle: An Undervalued, Rapidly Growing Hotel Franchise In China

Summary Atour Lifestyle Holdings Limited is rapidly expanding its manachised hotel network in China. The company is also growing its branded retail sales, adding a new meaningful revenue stream. The manachising business model allows very high-margin revenues through franchising fees, compared to the business model of for example Marriott and Hilton. With rapid revenue growth prospects and potential for margin expansion, Atour's ATAT ADS remains attractively valued. I estimate 58% upside to a fair value of $43.1. Read the full article on Seeking Alpha
Analysis Article Jan 09

Atour Lifestyle Holdings Limited's (NASDAQ:ATAT) Popularity With Investors Is Clear

Atour Lifestyle Holdings Limited's ( NASDAQ:ATAT ) price-to-earnings (or "P/E") ratio of 22.4x might make it look like...
Analysis Article Dec 22

Is There An Opportunity With Atour Lifestyle Holdings Limited's (NASDAQ:ATAT) 33% Undervaluation?

Key Insights Atour Lifestyle Holdings' estimated fair value is US$41.98 based on 2 Stage Free Cash Flow to Equity Atour...
Analysis Article Nov 29

These 4 Measures Indicate That Atour Lifestyle Holdings (NASDAQ:ATAT) Is Using Debt Safely

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Seeking Alpha Nov 25

Atour Lifestyle Holdings: A Growing Business With A Long Runway

Summary Atour Lifestyle Holdings has demonstrated strong growth, with significant revenue increases across its manachised hotels, leased hotels, and retail segments from 2021 to 2023. ATAT's asset-light model, similar to Marriott and Hilton, has enabled rapid expansion, with a 37.9% increase in hotels year-over-year by Q3 2024. The company has consistently raised its 2024 revenue guidance, reflecting strong performance and investor confidence, further boosted by a new generous dividend policy. Despite economic concerns in China, ATAT's diversified revenue streams and undervalued stock present an attractive risk-reward opportunity at the current price. Read the full article on Seeking Alpha
User avatar
New Narrative Nov 21

The Exciting Expansion And Upscale Brand Launch Set To Accelerate Growth And Loyalty

Expansion in hotel network and new upscale brand could boost future revenue, occupancy, and RevPAR through increased capacity and strategic positioning.
Seeking Alpha Oct 16

Atour: Where Hospitality Meets Retail

Summary Atour Lifestyle dominates China's upper-midscale hotel market, leveraging its unique manachising model and retail experience to ensure service quality and drive growth. The booming retail segment grew 153% YoY, enhances Atour's competitiveness and mitigates market cyclicality. Atour's valuation shows room for growth, trading at a below-average P/E ratio compared to peers. Read the full article on Seeking Alpha
Analysis Article Oct 13

Atour Lifestyle Holdings (NASDAQ:ATAT) Could Become A Multi-Bagger

Did you know there are some financial metrics that can provide clues of a potential multi-bagger? One common approach...
Analysis Article Sep 25

Investors Appear Satisfied With Atour Lifestyle Holdings Limited's (NASDAQ:ATAT) Prospects As Shares Rocket 28%

The Atour Lifestyle Holdings Limited ( NASDAQ:ATAT ) share price has done very well over the last month, posting an...
Analysis Article Sep 22

Are Investors Undervaluing Atour Lifestyle Holdings Limited (NASDAQ:ATAT) By 22%?

Key Insights Using the 2 Stage Free Cash Flow to Equity, Atour Lifestyle Holdings fair value estimate is US$27.37...
Analysis Article Sep 03

Atour Lifestyle Holdings' (NASDAQ:ATAT) Shareholders Will Receive A Bigger Dividend Than Last Year

Atour Lifestyle Holdings Limited ( NASDAQ:ATAT ) has announced that it will be increasing its dividend from last year's...
Analysis Article Sep 01

Atour Lifestyle Holdings Limited Just Missed Earnings - But Analysts Have Updated Their Models

It's been a good week for Atour Lifestyle Holdings Limited ( NASDAQ:ATAT ) shareholders, because the company has just...
Seeking Alpha Aug 30

Atour Lifestyle: Beat-And-Raise Quarter Supports A Buy (Rating Upgrade)

Summary Atour Lifestyle's top line and bottom line for the recent quarter beat the consensus estimates by +9.6% and +5.4%, respectively. ATAT is now anticipating a +50% growth in its revenue for FY 2024, which is better than its prior +40% top line expansion guidance. The beat-and-raise quarter for Atour Lifestyle has left me impressed with the company's prospects, and this explains why I have raised the stock's rating to a Buy. Read the full article on Seeking Alpha
Analysis Article Jun 19

Should You Be Adding Atour Lifestyle Holdings (NASDAQ:ATAT) To Your Watchlist Today?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
Seeking Alpha May 26

Atour Lifestyle: Recent Results Had Both Positive And Negative Takeaways

Summary ATAT's key positives are the favorable revenue growth prospects for its hotel business and retail business. The major negatives for Atour Lifestyle are the lack of clarity pertaining to its future capital return and the sharp increase in its selling and marketing expenses for Q1 2024. I retain my Hold rating for ATAT following an assessment of the company's most recent quarterly disclosures. Read the full article on Seeking Alpha
Analysis Article May 22

What You Can Learn From Atour Lifestyle Holdings Limited's (NASDAQ:ATAT) P/S

When close to half the companies in the Hospitality industry in the United States have price-to-sales ratios (or "P/S...
Analysis Article May 04

Is Atour Lifestyle Holdings Limited (NASDAQ:ATAT) Trading At A 32% Discount?

Key Insights Using the 2 Stage Free Cash Flow to Equity, Atour Lifestyle Holdings fair value estimate is US$28.14 Atour...
Analysis Article Apr 15

Is Atour Lifestyle Holdings (NASDAQ:ATAT) A Risky Investment?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Seeking Alpha Feb 21

Atour Lifestyle: Mixed Read-Throughs From Lunar New Year Data

Summary The travel industry numbers relating to Mainland China's Lunar New Year holiday offer mixed read-throughs, which point to a murky 2024 outlook for ATAT. Atour Lifestyle's current valuations are in line with that of its peers based on the EV/EBITDA metric. I don't change my existing Hold rating for ATAT stock after analyzing the recent travel industry data and the stock's valuations. Read the full article on Seeking Alpha
Analysis Article Jan 18

Estimating The Fair Value Of Atour Lifestyle Holdings Limited (NASDAQ:ATAT)

Key Insights The projected fair value for Atour Lifestyle Holdings is US$16.41 based on 2 Stage Free Cash Flow to...

Shareholder Returns

ATATUS HospitalityUS Market
7D0.2%7.0%2.2%
1Y4.8%-1.8%24.8%

Return vs Industry: ATAT exceeded the US Hospitality industry which returned -1.8% over the past year.

Return vs Market: ATAT underperformed the US Market which returned 24.8% over the past year.

Price Volatility

Is ATAT's price volatile compared to industry and market?
ATAT volatility
ATAT Average Weekly Movement5.6%
Hospitality Industry Average Movement7.6%
Market Average Movement7.2%
10% most volatile stocks in US Market16.7%
10% least volatile stocks in US Market3.1%

Stable Share Price: ATAT has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: ATAT's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20126,356Haijun Wangir.yaduo.com

Atour Lifestyle Holdings Limited, through its subsidiaries, develops lifestyle brands in the People’s Republic of China. The company operates hospitality and retail businesses; and provides hotel management services, including day-to-day management services for the hotels on behalf of franchisees, as well as sells hotel supplies and other products. It also operates travel agency.

Atour Lifestyle Holdings Limited Fundamentals Summary

How do Atour Lifestyle Holdings's earnings and revenue compare to its market cap?
ATAT fundamental statistics
Market capUS$4.65b
Earnings (TTM)US$272.33m
Revenue (TTM)US$1.58b
16.7x
P/E Ratio
2.9x
P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
ATAT income statement (TTM)
RevenueCN¥10.70b
Cost of RevenueCN¥5.97b
Gross ProfitCN¥4.72b
Other ExpensesCN¥2.88b
EarningsCN¥1.84b

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

n/a

Earnings per share (EPS)13.40
Gross Margin44.16%
Net Profit Margin17.22%
Debt/Equity Ratio6.6%

How did ATAT perform over the long term?

See historical performance and comparison

Dividends

2.4%
Current Dividend Yield
41%
Payout Ratio

Does ATAT pay a reliable dividends?

See ATAT dividend history and benchmarks
When do you need to buy ATAT by to receive an upcoming dividend?
Atour Lifestyle Holdings dividend dates
Ex Dividend DateJun 05 2026
Dividend Pay DateJun 22 2026
Days until Ex dividend12 days
Days until Dividend pay date5 days

Does ATAT pay a reliable dividends?

See ATAT dividend history and benchmarks

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/15 17:23
End of Day Share Price 2026/06/15 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Atour Lifestyle Holdings Limited is covered by 27 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ronald LeungBofA Global Research
Sijie LinChina International Capital Corporation Limited
Joseph WongChina Merchants Securities (HK) Co., Ltd