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

3Q24 earnings below expectations due to margin contraction

–2023 guidance cut, expecting recovery in 2024

2Q loss reduction trend better than expectation

Expect an improving trend after a weak 1Q24

We expect prudent guidance but decent margins

Operation Aspides, or the Peril of Low Expectations in Yemen

Expect steady growth with policy tailwinds

Expect strong sales in 2023 driven by the US approval of zanubrutinib in CLL

China Auto Sector – Jun leading indicators： NIO weaker than expected

Expect higher ASP following China’s stimulus