4Q22E net profit likely to turn positive
–Homegrown brands likely to narrow loss in 2H23
–Likely to be resilient and outperform in 2H23E
Li Auto Inc. (LI US) 4Q22E net profit likely to turn positive
1Q23 results beat and gradual recovery is likely
China Auto Sector – May NEV likely to hit second highest in history
This is likely a rocky-road turnaround
May NEV likely to hit second highest in history
BYD Company (1211 HK) 4Q22 beat; FY23E margins likely overestimated
Operational challenges remain; but China regulatory risk to sentiment likely settled