【招银国际】65%; recovery story intact.pdf

–Margin intact with topline acceleration

Solid Q3 earnings signal intact growth trajectory

–The growth story is intact despite volatility

Structural margin improvement trend intact

2023E growth outlook remains intact

Soft consumption weighs on demand for high-ASP businesses; intact long-term outlook

宏观周报71期：特朗普称中美贸易协议完整（intact），IMF下调全球经济展望

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