Improving product structure, upgrading to buy H:Hold/A:Reduce:Profits to resume growth in FY17e 0.5x P/EV for PICC Life and Health? Non-deal roadshow reconfirmed growth and margin upside Lower corn price to support gross margin Morning Express US Equity and Derivatives Strategy: Pictures Tell the Story: September 2015 Valuation still attractive post 15% rally APAC Equity Strategy: A deep dive into what's priced in Russian Equities Daily: Russia Morning Comment