【国盛证券】Web3底层语言：Move弥补了Solidity哪些不足？.pdf

–NDR takeaways：Strong order backlog in 2H23E; Solid pipeline to drive growth into FY24／25E

Solid business growth momentum continues

Online music business maintains solid growth amid macro uncertainty

3Q results review: Solid revenue growth with lower margin

Solid margin and attractive valuation; wait for top-line recovery

Expect solid 2023E earnings; Higher free float to boost valuation

Kuaishou (1024 HK) Solid 4Q22E with better margin outlook

Strong mobile games and ad businesses support solid 3Q24 results

Solid cloud rev growth with improved earnings growth outlook for e-commerce business

Solid 4Q24 results; further stepping up AI investments in FY25