【招银国际】–Expecting a sequential recovery in 4Q.pdf

1Q23 results beat and expect gradual recovery

Earnings expectation is settling

SJM Holdings Expect catalyst

Net profit +3.5x YoY in 2022 but below expectations; Attractive yield of 20%

Overseas CXO/ life science upstream 2Q24 review: life science upstream continuing to expect demand recovery

We expect 4Q22 NP to fall on equity income

China Technology–Global fabless／IDM 2Q23 wrap： expect continued inventory correction for non-AI players; All eyes on NVDA 3Q23E guidance

3Q24 net profit +38% YoY, beat expectations; US remains the most promising market

Expecting a solid 1H23

CMS Strategy Weekly: Rate expectations see upward revision