Conference call takeaways - slight earnings cut on JVs' profitability Core operation enhancement on track despite RMB headwinds Retail sales volume growth moderated to 1.9% YoY in July under weakened tourism and consumer sentiment Regional Morning Notes China Banks LDR Cap Removed by Top Legislature；Effective on Oct 1st Australian Equity Strategy: A disappointing reporting season, but some bright spots in the detail 1H15 review: steady, but outlook not without challenges Making a strong comeback Spend more, borrow more, and sell more Details on the water acquisition suggest future growth