【招银国际】 Thermal ASP in 4Q continued to beat benchmark.pdf

MengDian HuaNeng Earnings beat；Weijiamao coal mine expansion approved

–1H23 beat and promising outlook; Lift TP to HK$41.98

网易云《声音主题beat大赛 》-商务通案

May NEV retail share to hit 45%; NIO beat

5-1 sales beat but competition intensified

1Q24 beat on strong margins; Positive on upbeat SU7 delivery target

4Q22 beat; FY23E margins likely overestimated

1Q23 beat with sustainable profitability ahead

–1H23 results marginally beat; continue to implement “1+2+N” strategy

1Q23 results beat and gradual recovery is likely