【招银国际】China Economy–Deflation may gradually alleviate after credit loosening.pdf

China Internet: China online advertising: onset for gradual recovery in 2023E

China Internet – China online advertising： onset for gradual recovery in 2023E

Deflation continues with gradual improvement ahead

FY22 largely in-line; Gradual recovery on track

Gradual revenue and margin recovery in FY23

Acceding Countries’ Gradual Integration into the EU Single Market

Gradual revenue and margin recovery in FY23

Near term challenges should fade into gradual recovery

China Economy: Deflation may gradually alleviate after credit loosening

1Q23 results beat and gradual recovery is likely