【招银国际】 1Q23 beat with sustainable profitability ahead.pdf

Expect a profit turnaround in 2023E

2H22E net profit to almost double HoH

Net profit 1H24 +2.7x YoY, beat expectations

同庆楼（605108）：Recovery in ‘Double Spring Year,’ Expect 2025 Profit to Improve

1H24 profit alert points to solid 2Q results

Positive profit alert for FY23E

2023 Investor Day： All eyes on profitability and smart EV business upside

Geely Automobile (175 HK) 2H22E net profit to almost double HoH

Surging PHEV sales at cost of FY23E net profit

–2Q23 net profit +81% but largely due to low base & FX gain; Staying cautious on export