Deutsche Bank-中海发展股份（01138）Earnings likely troughed in 1H;industry upcycle should lift stock price-130819 A rising tide of worry Weak 1H13 results in line; outlook should be improved Above expectations on better margins; growth recovery on track Deutsche Bank-百盛集团（03368）Structural change needed downgrading to Sell-130819 SGS Perspective Sound medium-term outlook In line with expectations but improving margin outlook In line with expectations: Improvement in sight, but long way to go Below expectations on sale reorganization, loss from assoc and FX

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