【招银国际】 Recovering cross-border medical consumption in FY24.pdf

Underway to recover

China Economy – PMI beat expectations as economy continues to recover

China Macro Monitor – Underway to recover

Insurance funds: Life/P&C diverged in allocation; financial yields marginally recovered in 2Q

China Economy – On its way to recover

China Economy: On its way to recover

Improved independence with a recovered central SOE as parentco; Upgrade to BUY

NEW ORIENTAL (EDU.N) Recovering educational businesses

China Catering Sector - Customer traffic recovering; to drive margins in FY23

China Catering Sector: Customer traffic recovering; to drive margins in FY23