GAC Group (2238 HK) We expect 4Q22 NP to fall on equity income
–Expect steady 3Q23 despite macro uncertainty
–Expecting a sequential recovery in 4Q
Weak 1Q23 as expected; Expect multiple drivers from iPhone/CPU socket/400G/EV in 2H23E
3Q24 earnings below expectations due to margin contraction
ESOP targets stabilize earnings expectation but sentiment overhang remains
China's Economy:Money and Credit Growth Beats Expectations; the Central Bank might Slightly Rein in Its Pace of Monetary Loosening
1H23E preview: Expect profit decline on weak coal price
Turnaround is here but weaker than expected
Expect domestic business to rebound from 2025