【招银国际】Higher consumer internet revenue contribution boosted margin.pdf

Rampup of generative AIrelated revenue on track

State-by-State Hotel Revenue, Tax and Job Loss

1H23 Preview: weak revenue amid industry headwinds; expect smartphone recovery in 2H23E

Maximizing Output and Government Revenues from Mining in Developing Countries

–Games revenue growth accelerated with solid margin expansion

Expect higher contribution from AI revenue in 3Q; Upgrade to Buy

Solid cloud revenue growth a bright spot in the stage of business adjustment

3Q results review: Solid revenue growth with lower margin

2022 Hotel Room Revenue by State

Inline 3Q23 results; strong music subscription revenue growth