利润率创历史最高，重申“收集” Q2 2016 results in line; On track to achieve business targets. Main tain BUY Smooth Growth in 1H16 Revenue; Expect Further Progress of Strategic Expansion 1H Result Beat on Strong Railway Operation Service Second Upward Revision in a Month. Maintain BUY. Resilient Business Model Proven in a Tough Market Core Mengniu business better than expected, consolidated numbers dragged down by Yashili and Modern Dairy Fuel price liberalization to take time; potential domestic M&A; project growth reiterated 1H 2016 Results in Line with Expectations. Maintain BUY 港股晨讯