【招银国际】 4Q22E net profit likely to turn positive.pdf

Li Auto Inc. (LI US) 4Q22E net profit likely to turn positive

1Q23 results beat and gradual recovery is likely

China Sportswear Sector - Singles Day sales likely good but companies remain cautious

May NEV likely to hit second highest in history

BYD Company (1211 HK) 4Q22 beat; FY23E margins likely overestimated

This is likely a rocky-road turnaround

China Auto Sector – Jan NEV likely in line or slightly miss; Li Auto beat

–Homegrown brands likely to narrow loss in 2H23

China Auto Sector – May NEV likely to hit second highest in history

4Q22 beat; FY23E margins likely overestimated