H1 16 Results - Sequential Sales improvement and D&A change in accounting policy in focus Injection is just the kick-start of multi-year rerating A pleasant beat 1H16 earnings in line; Russia offsets China/ America slowdown; hints on offshore project wins NAV accretive injection with strong result. Reiterate OW 每日财经评论 港股早晨快讯 每日港股分析 1H16 results first take Takeaways positive as growth outlook remains constructive; tariff and payout upside highlighted