- We attended DGW’s analyst meeting on February 14, during which management provided colors on DWG’s 2022 results and targets as well as its business outlook for 2023.

- Management expects DWG’s revenue to fall 43% YoY and its net profit to drop 38% YoY in Q1 2023, which is mainly due to lower demand for laptops & tablets and mobile phones — especially iPhone 14 models. Management expects revenue and profit growth to return in H2 2023.

- Management conservatively targets revenue and profit to rise 14% YoY and 15% YoY in 2023, respectively.

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