【招商证券】China Food & Beverage Sector - FY23 growth from re-opening and falling costs.pdf

The Mirage of Falling R-stars

We expect 2H22E net profit to fall 23% YoY

We expect 4Q22 NP to fall on equity income

Western Balkans Regular Economic Report No. 26, Fall 2024

Divided We Fall: Differential Exposure to Geopolitical Fragmentation in Trade

–1H23E NP to fall 23% YoY; Mixed picture ahead

2Q23E NP to fall QoQ; Hyper margin key in 2H23

China Stumbles but Is Unlikely to Fall

CMO | Navigator - Fall '23 Edition ： 建立现代品牌以满足不断变化的消费者行为和期望

Global Economy：Falling USD Index Failed To Spur Bulk Commodities Prices,Wait For The Fed’s Monetary Conference