【招银国际】2Q23E preview: net profit to rise 7% QoQ.pdf

3Q preview: Embracing a normalised quarter

2Q23 earnings preview： NP to rise QoQ in FY23E

1H23 Preview: expect weakness in-line; Back-end loaded in 2H23E

1H23E earnings preview： All eyes on the Galaxy

–2Q23 preview： expecting strong recovery ahead

1H23 Preview: weak revenue amid industry headwinds; expect smartphone recovery in 2H23E

1H24 preview： margin weakness priced in; expect gradual ASP/margin recovery in 2H

4Q preview: rev/np reach RMB30.7bn/1.1bn

1H23E preview： Expecting Strategy 2.0 to gain momentum in post-pandemic periods

2022 preview： Continuing to enhance long-term growth logic