【招银国际】–Strong sales momentum continued in 3Q.pdf

Positive profit alert in 1H24E; Strong order momentum to continue into 2H24/FY25E

China Policy–Credit growth tends to stabilize amid continuous policy easing

Property: NBS 4M24: REI continued weakening as expected; BJ’s relaxation showed noticeable effect

China Policy–RRR cut as continuous effort to restore confidence

China Economy: PMI indicated continued yet slowing recovery

China Economy – PMI beat expectations as economy continues to recover

Solid 1H24 results with continued recovery in CIS business

China Economy – Exports continued to beat expectations with uncertainty ahead

China Property Sector–NBS Oct data in line, Nov-Dec may continue to be weak on low buying sentiment

China Economy – PMI indicates continuous economic recovery