分销业务承压，期待外延并购 1H17 results in line; positive on outlook and new strategy 业绩增长强劲，创新药进入收获期 息差表现稳定，资产质量保持优异 Better optics outlook and acoustics upgrade lead to a strong 2018 outlook 资负结构、资产质量和息差趋势均向好 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”