【招银国际】–Looking at game monetization and better margin.pdf

–Better margin outlook, with Bigo to bottom out

–Better-than-feared 3Q results

Better profits achieved across 3 business lines

Solid 1H24 earnings, better NEV outlook

Hopson： weaker but much better than peers FY22

Better margins despite cautious sales growth

–3Q23 earnings beat on better product mix and record-high GPM

1Q23 beat on better GPM; Maintain HOLD on fair valuation

Bounce back better: Four keys to disaster resilience in US communities

Leveraging Trade for More and Better Jobs