Morning Research Focus Weak Q2 results;Downgrade to HOLD The worst is over.Maintain BUY. Clearer R&D pipeline to support long~term growth;Maintain BUY. 1H18 net profit affected by fair value loss;gearing ratio fell significantly Earnings Review: 1H18 results on track; sustainable margin paving the way 1H 2018 results better than we expected. Correction is overdone. Maintain BUY Bright and visible outlook,maintain BUY 1H 2018 results key takeaways. Growth acceleration and 5G is a major positive. 创陞控股有限公司