【招银国际】May NEV likely to hit second highest in history.pdf

–Homegrown brands likely to narrow loss in 2H23

BYD Company (1211 HK) 4Q22 beat; FY23E margins likely overestimated

4Q earnings beat; likely another year of solid earnings growth ahead

–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 Heavy-duty Truck: Expansion of gas/diesel price spread likely to boost natural gas HDT sales in the near term

4Q22E net profit likely to turn positive

China Sportswear Sector - Singles Day sales likely good but companies remain cautious

–Business adjustment impact likely taking time to be digested