Indian Power Generators to pass on their fuel costs What do recent troubles in ASEAN and India mean to China? Above expectations on higher volume and cost control; Buy Post 1H13 analyst meeting: Slow demand growth led to disappointing margin improvement Above expectations on lower credit cost; core earnings/PPOP in-line Doubling our target price Investment Highlights Global Markets Geely Automobile (175 HK) N(V): Waiting for another big hit model Kerry Properties (683 HK) OW: More happenings in China Not much to look forward to