【招银国际】China Economy – Weak exports support further policy easing.pdf

China Economy: Weak inflation points to easing policy stance ahead

China Technology Sector–Apple FY4Q23 beat on margins, resilient China iPhone sales, weak outlook for iPad／Wearablese

China Property Sector – Property+ Weekly： Weak construction resumption rate dragged by property

1H23E preview： Expect profit decline on weak coal price

Weak 1Q23 as expected; Expect multiple drivers from iPhone／CPU socket／400G／EV in 2H23E

China EconomyGrowth momentum remained weak

China Economy – Weak PMIs confirm downside pressure for growth

China Economy – Growth slows sharply as confidence remains weak

–1H23 preview：Better ASP to offset shipment weakness; Focus on demand recovery in 2H23E

Semi–China CIS sector–Solid auto CIS growth offset by weak mobile CIS demand