Focus on the sales pace; upgrade to Neutral 中期业绩符合预期，但新增投资明显减少，下调公司投资评级 中期业绩说明会纪要，调低目标价，维持“买入”投资评级 2Q17 revenue in line; downgrade on lower 2H17 revenue growth and margin pressure 上半年业绩高于预期，公司经营保持稳健上升态势，提高评级至“买入” Margin deteriorated due to surge of railway related costs 中期业绩会纪要，公司核心业务发展依然稳健，维持“买入”评级 Top-line and bottom-line beat; Margin improved thanks to increased revenue from the Internet Services & Others Segment Transitioning from metal casing story to the next growth drivers 1H17 results in line; positives on FY18/19 outlook