Resume coverage; 3Q21 NIM expansion and improving asset quality Resilient 3Q21 with high inventory buffer 3Q21E on track, with attractive valuation RSMACA – Equity placement is credit positive and shows on track fundraising progress China Property Sector:Our take on the imminent property tax Expect future share gain under similar 5G capex plan China Construction Machinery & HDT:China Local Government Bond Tracker Likely large acquisition deal underway to boost earnings 每日港股简评 Looking beyond 3Q21E epidemic impact