【招银国际】Exports to gradually improve in 2024.pdf

1Q23 results beat and gradual recovery is likely

Near term challenges should fade into gradual recovery

China Economy: Deflation may gradually alleviate after credit loosening

1Q23 results beat and expect gradual recovery

China Economy – Economy further weakens with gradual policy easing ahead

China Economy: Economy further weakens with gradual policy easing ahead

–1H23 profit warning; Maintain BUY on 2H gradual recovery

Gradually back on the right track

1H24 preview： margin weakness priced in; expect gradual ASP/margin recovery in 2H

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