Read-through for consumer space from Parkson Retail FY15 results Shanghai adjusted land supply rules for more small-medium sized units Limited visibility on NT catalysts;cloud and mobile games materialization still a way off FY15 results slightly below on weaker PPOP, special dividend is a positive but not a surprise The announcement didn’t say anything, but we think… January AC: output cut softened helped by export demand Top Stories Towards the end of group restructuring Renewable energy：NEA working meeting calls for more support to improve grid curtailment China Watch P221:Growth deceleration in 4Q15 vs.YTD 3Q15