【招银国际】1H23 预览 ： ASP 更好以抵消出货疲软 ； 关注 2H23E 的需求复苏.pdf

单季度业绩环比改善，2H23E新车型周期蓄势待发

–1H23 preview：Better ASP to offset shipment weakness; Focus on demand recovery in 2H23E

汽车和汽车零部件行业新势力销量跟踪报告：新势力回暖有望延续，看好2H23E行业平稳复苏

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

Moving into 2H23E recovery

–Likely to be resilient and outperform in 2H23E

1H23 结果如下 ； 预计在 2H23E 后装

–New-car GPM may bottom out in 2H23E

–Recovery to expedite in 2H23E

Moving into mild recovery in 2H23E