【招银国际】We expect prudent guidance but decent margins.pdf

Expecting a solid 1H23

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

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

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

Optimized CoR guidance beat expectations

Operation Aspides, or the Peril of Low Expectations in Yemen

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

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

SJM Holdings Expect catalyst