【招银国际】 1Q23 results beat and gradual recovery is likely.pdf

The Digital Inclusion Outlook: What It Looks Like and Where It’s Lacking

–Likely to be resilient and outperform in 2H23E

4Q earnings beat; likely another year of solid earnings growth ahead

–Homegrown brands likely to narrow loss in 2H23

4Q22E net profit likely to turn positive

China Sportswear Sector - Singles Day sales likely good but companies remain cautious

–Business adjustment impact likely taking time to be digested

China Heavy-duty Truck: Expansion of gas/diesel price spread likely to boost natural gas HDT sales in the near term

Li Auto Inc. (LI US) 4Q22E net profit likely to turn positive

China Auto Sector – Jan NEV likely in line or slightly miss; Li Auto beat