Happy investors should consider booking some profit; Downgrade to Neutral In-line 1H; impairment needs monitoring Takeaways from 1H16 results call 水泥业务将在2016下半年扭亏为盈；重申买入评级 It is the worst of times, it is the best of times; upgrading to Buy One-offs masked solid fundamentals; stay Neutral, as fairly priced, though still our sector's preferred play Buy:1H16 performance in line with expectations 每日市场透视 Key takeaways from 1H results call Life still carrying P&C