【招银国际】LT growth intact; D/G to HOLD as the company goes through business model transformation.pdf

65%; recovery story intact

Solid Q3 earnings signal intact growth trajectory

–The growth story is intact despite volatility

2023E growth outlook remains intact

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

–Weak revenue growth in the price; overseas growth story still intact

Soft consumption weighs on demand for high-ASP businesses; intact long-term outlook

宏观周报71期：特朗普称中美贸易协议完整（intact），IMF下调全球经济展望

Structural margin improvement trend intact

Revitalizing business model; intact breakeven target