Positive profit alert for FY23E
1H24 profit alert points to solid 2Q results
2023 Investor Day: All eyes on profitability and smart EV business upside
同庆楼(605108):Recovery in ‘Double Spring Year,’ Expect 2025 Profit to Improve
Net profit 1H24 +2.7x YoY, beat expectations
–2Q23 net profit +81% but largely due to low base & FX gain; Staying cautious on export
Expect a profit turnaround in 2023E
–Little sign of profit turnaround after 2Q23 miss
A breakthrough in the innovative business and an increase in profitability from a diversified product portfolio
Surging PHEV sales at cost of FY23E net profit