【麦肯锡】what-can-we-expect-in-china-in-2018.pdf

1Q23 results beat and expect gradual recovery

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

Core business recovery on track with more to expect on new initiatives

Expect higher ASP following China’s stimulus

1H24 earnings down 27% YoY below our expectation; expect a better 2H24E

–2023 guidance cut, expecting recovery in 2024

Better-than-expected 3Q results drove enhanced full-year outlook

China Property Sector–NBS Aug data in-line, expect better recovery in Sep-Oct but sustainability is uncertain

China Technology–Global fabless／IDM 2Q23 wrap： expect continued inventory correction for non-AI players; All eyes on NVDA 3Q23E guidance

Global HR Tech Report Q4 2024: $7.2 Billion invested in 2024 YTD and expected market volume to reach ~$29 billion this year