【招银国际】1H24 profit alert points to solid 2Q results.pdf

Solid cloud rev growth with improved earnings growth outlook for e-commerce business

3Q24 first take: Earnings in-line with solid margin recovery; Focus on GB200 products in 4Q24E

Solid Feb NEV sales with many new models on the way

Solid core businesses; upbeat on long-term development of e-commerce and AI

2Q23 preview: solid earnings growth despite social entertainment business adjustment

1H24E preview: Expect solid growth on iPad/iPhone cycle, Android recovery and NEV orders

–1H23 in-line： Solid asset quality; HCD spin-off untapped industrial potentials to empower growth

Semi–China CIS sector–Solid auto CIS growth offset by weak mobile CIS demand

Solid 3Q with intact near-term prospects; Maintain BUY

Expecting a solid 1H23