【招银国际】3Q24 GPM provides confidence for FY25 sales.pdf

2H21首发：GPM压力差于预期

–GPM pressure persists despite possible sales beat

星电半导体GPM保持强劲 产能逐步释放

Strong GPM expansion supported the breakeven in 2H22

2Q24 beat on EV GPM and resilient core earnings; Reiterate BUY

1H24 首推 ： 受 GPM 和销售费用拖累的强劲收入增长

Positive profit alert alleviates GPM concerns; Upgrade to BUY

CMBI Corp Day takeaways: ASP/GPM upside driven by Android recovery and spec upgrade

1Q23 beat on better GPM; Maintain HOLD on fair valuation

–2Q23 GPM miss; Still a long way for healthy GPM