【招银国际】May NEV likely to hit second highest in history.pdf

Li Auto Inc. (LI US) 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

PHEVs key to FY24; Earnings likely still resilient

Operational challenges remain; but China regulatory risk to sentiment likely settled

NE：Larger-than-expected Tariff Cuts, Earnings Upside Likely

微软（MSFT）：Agentic Web Likely to Accelerate AI Inference Development

Operational challenges remain; but China regulatory risk to sentiment likely settled

Too early to call for a turnaround but ESOP target is likely hit as a low hanging fruit; Down to HOLD

–Likely to be resilient and outperform in 2H23E