（零售）中信证券-商业零售行业模式探讨系列报告之六：当传统遇上电商：生产者的选择？-120206.pdf

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4、l be directly or indirectly,related to the specific reco?(1)?20?Analyst Certification?i?ii?The analysts primarily responsible for the preparation of all or part of the reseherein hereby certify that:(i)the views expressed in this resabout themmendations or views expressed in this research report.?/?

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6、rities”,regulated by the China Securities Regulatory Commission.Securities Business License Number:Z20374000).This report is being distributed in the United States by CITIC Securities pursuant to Rule 15a-6(a)(2)under the U.S.Securities Exchange Act of 1934 exclusively to“major U.S.institutional investors”as defined in Rule 15a-6 and the SEC no-action letters thereunder.?Z20374000?1934?15a-6(a)(2)?15a-6?