传统业务聚焦于利润率改善，新业务引领增长 Undervalued port with solid container business and strong growth of logistics business; maintain Buy 港股周三收高 建行强势涨逾3% General offer being considered by controlling shareholder Results missed on higher opex. Earnings growth guidance of 30% 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 简要分析：业绩符合预期；机车/货车业务疲弱，高铁业务稳健，城轨业务强劲