【招银国际】在 2H23E 中结出更多游戏的果实.pdf

1H23 Preview: expect weakness in-line; Back-end loaded in 2H23E

2H23E recovery in sight

–New-car GPM may bottom out in 2H23E

Moving into mild recovery in 2H23E

–1H23E Preview： strong growth despite industry headwinds; expect back-loaded in 2H23E

–Recovery to expedite in 2H23E

1H23 Preview: weak revenue amid industry headwinds; expect smartphone recovery in 2H23E

1H23 预览 ： ASP 更好以抵消出货疲软 ； 关注 2H23E 的需求复苏

Positive on shipment recovery and capacity expansion in 2H23E

Moving into 2H23E recovery