【华泰证券】1H23前瞻：利润率重启扩张.pdf

–1H23 weakness in-line; Maintain HOLD on fair valuation

1H23业绩承压，毛利率同比改善

1H23需求疲软拖累收入和毛利，静待高端产品放量

Expect strong growth to continue after the impressive 1H23; U／G to BUY

1H23 TAVR市占率继续提升，神经介入新品放量略超预期

–1H23 weakness in-line; Lower TP on slower demand recovery

1H23半年报点评：营收质量持续提升，光模块龙头高成长

顶点软件业绩预告顶点软件预计 1H23实现归母净利

煤价下行拖累 1H23业绩表现

1H23盈利转亏，行业需求仍待改善