Solid 3Q with intact near-term prospects; Maintain BUY
Revitalizing business model; intact breakeven target
–Weak revenue growth in the price; overseas growth story still intact
LT growth intact; D/G to HOLD as the company goes through business model transformation
2Q23E earnings to grow 30-65%; recovery story intact
–Margin intact with topline acceleration
Soft consumption weighs on demand for high-ASP businesses; intact long-term outlook
Solid Q3 earnings signal intact growth trajectory
2023E growth outlook remains intact
–The growth story is intact despite volatility