【招银国际】2Q23E NP to fall QoQ; Hyper margin key in 2H23.pdf

2H23业绩电话会议纪要

科技行业专题研究：功率2H23，海外业绩分化，关注SiC

2H23营收／净利分别增长33%／62%，无糖茶业务占比显著提升

China Auto Sector: Strong June provides more confidence for 2H23

业绩短期承压，静待2H23恢复

中报盈利增长，看好2H23利润弹性

China Auto Sector – Can possible strong Jun sales extend into 2H23？

实际动销好于报表收入，2H23将继续优化投放节奏

盈利回暖初见端倪，2H23或仍有波折

–1H23 weakness amid industry headwinds; Positive on margin recovery in 2H23／FY24E