To scale a brand Underlying business not as bad as profit warning; but with no recovery difficult to get constructive 天然气销售前景光明，维持“买入”评级 金属市场依旧黯淡，维持“减持”评级 Below expectation on booking mix; healthy financial position Above expectations on PE realized gain; new businesses on track Below expectation on margins; balance sheet further deteriorated 2015年盈利下滑55.1% In line with expectations: Resilient shipment and margin guidance 2015年报点评：智力运动生态圈继续巩固，电竞网络布局可期