【招银国际】We expect 1H24 to be still profitable.pdf

1Q25 results below expectations due to delay of product delivery; Expect recovery in 2Q25E

1H23 Preview: expect weakness in-line; Back-end loaded in 2H23E

关键假设表调整与交流精粹（2018年3月）：Marco Expectation Matters Again：研究员集体看低Q2周期品价格，社融走势再引热议

Expect higher contribution from AI revenue in 3Q; Upgrade to Buy

3Q24 net profit +38% YoY, beat expectations; US remains the most promising market

Expecting a solid 1H23

Operation Aspides, or the Peril of Low Expectations in Yemen

China's Economy：Money and Credit Growth Beats Expectations; the Central Bank might Slightly Rein in Its Pace of Monetary Loosening

Optimized CoR guidance beat expectations

Expect strong sales in 2023 driven by the US approval of zanubrutinib in CLL