【招银国际】 Impressive earnings recovery in 1Q23; Reiterate BUY.pdf

–2Q23 beat on record-high margin; Reiterate BUY

2Q24 beat on EV GPM and resilient core earnings; Reiterate BUY

Reiterated guidance but we remained cautious

Fundamentals remain strong despite recent market volatility, reiterate BUY

China Tutoring Sector:Tutoring names rally on STEM education policy reiteration

China Tutoring Sector - Tutoring names rally on STEM education policy reiteration

Positive on acquisition of Auto-Kabel Group; Reiterate BUY

Encouraging signs on both policy implementation and property sales, Reiterate buy