【华泰证券】中报盈利增长，看好2H23利润弹性.pdf

China Auto Sector – Can possible strong Jun sales extend into 2H23？

盈利回暖初见端倪，2H23或仍有波折

2Q23E NP to fall QoQ; Hyper margin key in 2H23

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

2H23不及预期，高品质发展目标延续

科技行业专题研究：功率2H23，海外业绩分化，关注SiC

实际动销好于报表收入，2H23将继续优化投放节奏

–Homegrown brands likely to narrow loss in 2H23

业绩短期承压，静待2H23恢复

2H23利润率修复可期