1H16 core profit beats slightly on new connections Strong 1H16 results in line with expectations; reiterating Buy 1H16 results: improving wine margin; eyes on SOE reform 1H16 sales in line; but OP miss on rising operating expense Growth outlook remains strong ICBC reportedly one of the bidders for The Center Hold: focus shifts from broadband to new growth areas Management reiterates positive outlook in the medium term Robust 1H and promising 2H; Buy Margin erosion more severe than expected; maintaining Sell