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招银证券6月16日发布公告。Non-smartphone as the bright spots; Positive on 2H23E recovery. Overall, we are impressed by Sunny’s technology/product roadmap across all segments, and non-smartphone now emerges as major earnings driver (50%+ mix in FY22). In near term, we expect HCM/HLS shipment recovery to continue in 2H23E driven by share gain and product launches in 2H23E, and VLS shipment to maintain strong growth given inventory restocking. Our TP/forecasts is under review.