1H17 results review; counting down to Shanghai Ocean Park opening 同业资产负债压缩，资产质量压力仍较大 转型成效继续显现，但估值已较合理 Positive 1H results on GPM and profit outlook; upgrade to “BUY” In-line 1H earnings, valuation is still undemanding; Maintain Buy 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”