【招银国际】Solid 1Q24 with better 2H24 earnings ahead.pdf

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Still better positioned than most rivals

–Expecting upbeat margin on better ARM

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Kuaishou (1024 HK) Solid 4Q22E with better margin outlook

1Q results pointed to a better full-year earnings growth outlook

Still positive, but wait for a better entry point after 3Q24E results

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