【招银国际】China Economy – Weak exports support further policy easing.pdf

–1H23 weakness amid industry headwinds; Positive on margin recovery in 2H23／FY24E

Capital Goods: Construction machinery sales in Sep: Decent export growth; weak demand in China

–1H23 weakness in-line; Lower TP on slower demand recovery

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

Apple FY1Q23 miss on macro and supply chain issues; Expect weakness to persist in near term

China’s Economy Weekly：Economy Showed Signs of Weak Stabilization, Growth Stabilizing Policies Accelerate

【Sector Research】China Property Sector–NBS Jun data： weak as expected, a tough 3Q ahead

Yanlord: Weak 1H24 results but manageable liquidity

Weak PMIs confirm downside pressure for growth

China Economy: Deflation mildly alleviated while consumer demand remained weak