【招银国际】–1H23 profit warning worse than feared; Maintain Hold.pdf

Positive outlook; Maintain BUY

1Q23 dragged by higher investments and macro headwinds; Maintain BUY on 2H recovery

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

China Insurance Sector: Improving fundamentals; Maintain OVERWEIGHT

Solid 1H24 with balanced sources of growth, maintain BUY

Earnings beat with double surprises on dividend payout; Maintain Buy

China Banking Sector: Maintain OVERWEIGHT on valuation and positive outlook

Core business maintains a healthy growth momentum

China Policy – Politburo maintains pro-growth stance while ruling out big stimulus

Online music business maintains solid growth amid macro uncertainty