2022 preview: Fruitful BD deals
FY22 Preview: Strong execution of “3+3 Strategy”; Raise TP to HK$2.66
–1H23E Preview: strong growth despite industry headwinds; expect back-loaded in 2H23E
4Q preview: cFX/reported sales +12.1%/6.4%
FY22E preview: page not yet turned
FY22 preview: 2H22 UW margin improvement
QIYI Inc(IQ.US)4Q21 Preview 运营优化缓解顶线疲软
1H23 Preview: weak revenue amid industry headwinds; expect smartphone recovery in 2H23E
–2Q23 preview: expecting strong recovery ahead
4Q22 preview:流量与商业化表现超预期,关注消费复苏带动需求改善