【招银国际】 Expect a year of mild recovery in FY23.pdf

2Q loss reduction trend better than expectation

China Sportswear Sector – We expect prudent guidance but decent margins

China Pharmaceutical & Healthcare: Expecting global funding recovery in the coming quarters

Expect Shengyi to enter Nvidia supply chain in 2024

Turnaround is here but weaker than expected

Expect domestic business to rebound from 2025

Expect $3.5bn CB dilutive effect to be short-term

China Property Sector – Property+ Weekly： Can we expect post-CNY recovery？

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

Apple FY1Q23 miss on macro and supply chain issues; Expect weakness to persist in near term