【申万宏源】银河娱乐 Valuation Rerating.pdf

Valuation to improve on ODM business spin-off

China Banking Sector-Maintain OVERWEIGHT on valuation and positive outlook

Lifting TP on adding major R&D valuation

Mid-teen top-line growth and a 90% dividend payout sustain the valuation premium over peers

–1H23 weakness in-line; Maintain HOLD on fair valuation

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

Improving CNY sales; Stay Neutral on demanding valuation

Fair valuation despite FY22 high earnings quality

Biodiversity valuation

Portfolio Valuation Whitepaper