< The 2014 All-China Research TeamHe (Kevin) YinCredit SuisseFirst-place appearances: 0

Total appearances: 3

Analyst debut: 2011In third place is He (Kevin) Yin, who returns to this lineup after a year’s absence and marks his best showing to date. The Credit Suisse researcher also earns his first appearance on the Consumer/Discretionary roster, as a runner-up. He “is a very diligent analyst,” one wealth manager observes. “I enjoyed reading his work on the dairy sector and restaurants.” Working out of Hong Kong, Yin monitors some 20 nondiscretionary consumer names. His opinion of China’s top two milk producers, China Modern Dairy Holdings of Maanshan and Hong Kong–based China Mengniu Dairy Co., has soured because demand growth for end-market products has not met expectations and raw-milk prices have disappointed, the analyst says. More broadly, he has a cautious near-term outlook on the sector, “given the relatively high valuation multiple, with sluggish demand on the ground,” explains Yin. He maintains a positive view on the group’s growth prospects over the longer haul, however, believing that slower topline growth may intensify competition and accelerate industry consolidation. One name that he forecasts will be a standout is Beijing-based CAR. Shares of the mainland’s largest car rental company merit an outperform rating thanks to CAR’s exposure to “consumer lifestyle changes,” he advises, as well as its “penetration growth potential and a favorable competition environment.”