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

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

Expect solid 2023E earnings; Higher free float to boost valuation

COVID business to maintain solid growth

Solid online music business fuels robust earnings growth

Solid 1Q24 with enhanced profitability

Results inline; solid execution towards achieving development goal

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

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

Potential delivery of a solid outlook

Solid margin and attractive valuation; wait for top-line recovery