【招银国际】–1H23 profit warning; Maintain BUY on 2H gradual recovery.pdf

Gradual revenue and margin recovery in FY23

Near term challenges should fade into gradual recovery

FY22 largely in-line; Gradual recovery on track

Deflation continues with gradual improvement ahead

Gradual revenue and margin recovery in FY23

China Economy: Economy further weakens with gradual policy easing ahead

1Q23 results beat and gradual recovery is likely

Acceding Countries’ Gradual Integration into the EU Single Market

China Economy – Economy further weakens with gradual policy easing ahead

Gradually back on the right track