【招银国际】Inline 3Q23 results; strong music subscription revenue growth.pdf

China Consumer Sector: Strong recovery and sustainability during CNY

Solid mobile games and margin improvement support strong 1Q23 results

Expect strong growth to continue after the impressive 1H23; U／G to BUY

Auto: Leading indicators, policy imply a strong May

Acceptable short-term setbacks can be absorbed by strong core business

7M24 Monthly: Life momentum kept strong;P&C edged up by auto & non-auto rebounds

Strong sales in Q3, with a narrowed net loss

Avnet Inc.:Strong execution offset by early signs of a cyclical downturn; FY2Q EPSrecap

Strong mobile games and ad businesses support solid 3Q24 results

Strong core music business supports 1Q23 earnings beat