【招银国际】 Expect strong growth to continue after the impressive 1H23; U／G to BUY.pdf

–2Q23 preview： expecting strong recovery ahead

China Economy – Exports strongly rebounded with uncertainty ahead

China Auto Sector – Strong June provides more confidence for 2H23

A strong comeback in all channels since Mar

Positive profit alert in 1H24E; Strong order momentum to continue into 2H24/FY25E

Moving into 3Q23E strong pipeline

Promoting Strong International Collaboration in Quantum Technology Research and Development

China Technology Sector:Apple FY2Q23 beat on strong iPhone and EM; Positive on resilient performance amid headwinds

China Auto Sector: Strong June provides more confidence for 2H23

NDR takeaways: Growth to accelerate in 2022E on strong backlog