Solid 1H24 earnings, better NEV outlook
Solid margin and attractive valuation; wait for top-line recovery
Potential delivery of a solid outlook
–NDR takeaways:Strong order backlog in 2H23E; Solid pipeline to drive growth into FY24/25E
Semi–China CIS sector–Solid auto CIS growth offset by weak mobile CIS demand
Solid 1Q24 with enhanced profitability
COVID business to maintain solid growth
Solid online music business fuels robust earnings growth
Expect solid 2023E earnings; Higher free float to boost valuation
Solid recovery across all business lines