【招银国际】- 1H23 线疲软 ； 2H23E 展望乐观.pdf

滔搏：预计会出现阻力，2H23E 可能转机

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

Weak 1Q23 as expected; Expect multiple drivers from iPhone／CPU socket／400G／EV in 2H23E

单季度业绩环比改善，2H23E新车型周期蓄势待发

–Recovery to expedite in 2H23E

Moving into mild recovery in 2H23E

–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

Moving into 2H23E recovery