COP 27 - Towards Balanced Progress

The following analyst(s), who is(are) primarily responsible for this document, certifies(y) that the opinion(s), views or forecasts expressed herein accurately reflect their personal view(s) and that no part of their compensation was, is or will be directly or indirectly related to the specific recommendation(s) or views contained in this research report: Wai-Shin Chan, CFA and Polo Heung

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Additional disclosures

1. This report is dated as at 21 November 2022.
2. All market data included in this report are dated as at close 18 November 2022, unless a different date and/or a specific time of day is indicated in the report.
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