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

3Q24 net profit +38% YoY, beat expectations; US remains the most promising market

China's Economy：Money and Credit Growth Beats Expectations; the Central Bank might Slightly Rein in Its Pace of Monetary Loosening

Net profit 1H24 +2.7x YoY, beat expectations

China Economy: Exports continued to beat expectations with uncertainty ahead

–International expansion drove a strong beat for 3Q results

1H23 NBV beat consensus; interim dividend up 1.1% YoY reinforcing a long-run growth story

–3Q23 earnings beat on strong operating leverage and business innovation

Optimized CoR guidance beat expectations

–1H24 results beat and a resilient strategy

3Q24 results beat on Olympic event; 4Q24 outlook remains under pressure