【招银国际证券】 FY22E preview： page not yet turned.pdf

–3Q preview： flattish rev／EBITDA growth

4Q22 Preview： earnings recovery remains bumpy; Maintain HOLD

1H23 Preview: weak revenue amid industry headwinds; expect smartphone recovery in 2H23E

QIYI Inc(IQ.US)4Q21 Preview 运营优化缓解顶线疲软

1H24 preview： margin weakness priced in; expect gradual ASP/margin recovery in 2H

传媒行业周报：DeepSeek首款推理模型R1-Lite-Preview发布，关注AI应用

2022 preview： Fruitful BD deals

4Q preview： sales／adj. EBITDA +18%／+36%

–1H23 preview：Better ASP to offset shipment weakness; Focus on demand recovery in 2H23E

FY22 Preview： Strong execution of “3+3 Strategy”; Raise TP to HK$2.66