Morning Research Focus Results beat. 18% gas volume growth in 1Q16 法巴认股证焦点 Inline results with FY15 EBIT down 9% y/y 衍生攻略：建行再考验20天线 留意购25694 No clear guidance on use of cash; no clarity on dividend outlook AGM a binary event with Criteria in the driving seat; maintain Sell Steel price rebounds has helped improve spread margin significantly in 1Q16 Key takeaways from management briefing FY15 results in line with loss guidance, FY16 output to fall marginally, 1H16 recovery underway