【招银国际】 Core business maintains a healthy growth momentum.pdf

Reverse roadshow takeaways： high demand continues, Maintain Buy

–1H23 profit warning; Maintain BUY on 2H gradual recovery

Positive outlook; Maintain BUY

1Q23 beat on better GPM; Maintain HOLD on fair valuation

Maintaining strong growth momentum

Online music business maintains solid growth amid macro uncertainty

China TMT： Maintain buy XIAOMI’30-31s, XIAOMI 0’27(CB), MEITUA 0’27(CB), initiate buy on WB 3 3／8’30

FY24E target maintained but we are cautious

Yanlord：Resilient FY22 results and business model; maintain Buy

Solid 3Q with intact near-term prospects; Maintain BUY