Research Disclosures & Disclaimers

This website contains disclosures and disclaimers related to
published UBS Global Research products, including those related to
regulation, potential conflicts of interest as well as those provided
by third-party data providers describing limitations on use of their
products.

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UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (Rmb)	Price Target (Rmb)	Rating
2022-03-30	97.02	-	No Rating
2022-09-28	77.56	61.10	Sell
2022-10-24	79.62	58.40	Sell
2023-08-10	190.07	85.90	Sell
2024-02-27	135.45	83.30	Sell
2024-05-29	116.96	78.60	Sell
2024-08-24	95.90	76.80	Sell
2025-01-15	278.08	81.20	Sell
2025-02-25	311.66	89.00	Sell

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day. Issuers with an EQ Rating & Price Target Table are covered by UBS-IB Equity Research Analysts. Issuers without an EQ Rating & Price Target Table are not single stock covered.

* Issuers marked with an asterisk are covered by UBS-IB Equity Research Analysts. Issuers without an asterisk are not single stock covered.