【招银国际】NDR 收获 ： 需求恢复和规格升级以推动 2H23E 的 ASP / 利润率.pdf

–Likely to be resilient and outperform in 2H23E

–New-car GPM may bottom out in 2H23E

滔搏：预计会出现阻力，2H23E 可能转机

2H23E recovery in sight

Moving into mild recovery in 2H23E

–Recovery to expedite in 2H23E

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

在 2H23E 中结出更多游戏的果实

Moving into 2H23E recovery

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