【招银国际】China Insurance Sector：FY21 results preview.pdf

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

4Q preview: rev/np reach RMB30.7bn/1.1bn

1H23E preview： Expecting Strategy 2.0 to gain momentum in post-pandemic periods

2022 preview： Continuing to enhance long-term growth logic

1H24E preview: Expect solid growth on iPad/iPhone cycle, Android recovery and NEV orders

2Q23 earnings preview： NP to rise QoQ in FY23E

4Q preview: cFX/reported sales +12.1%/6.4%

1H23E earnings preview： All eyes on the Galaxy

FY22E preview： page not yet turned

2H24 preview: both revenue, NP stable HoH