Wynn Palace finally opens, and it lives up to the hype Model Update 1H16 results inline - core profit strong 1H16 results in line-Strong 2H likely The long-term winner of SOE reform gets tested Strong demand & rising margins Results inline. Trends point to improving China gas business Expect re-rating to continue; Raise PT to HK$6.5 Neutral on recently announced Huihang Exy acquisition; guidance in line Key takeaways from 1H16 results briefing