According to the Credit Suisse report, maintaining that Shanghai Industrial (00363.HK) outperformed the market rating, the target price rose from 23.8 yuan to 24.5 yuan. According to the bank, Shanghai Industrial will announce its interim results on the 31st of this month. Although most of its peers have recorded declines under the weak macroeconomic economy, the bank expects real net profit to increase by 5% year-on-year. The bank adjusted the profit per share forecast for 2016-18 by 8.5%, -4.6% and -4.7%. The current price is 54% off the net asset value and two standard deviations below the average. It is expected that the discount will narrow, and the valuation is attractive, and it is believed that it is time to collect shares. The bank's optimism is actually due to its balanced business portfolio and growth and defensive businesses, such as toll roads and consumer goods businesses, which contribute 80% of profit and steady cash flow. At the same time, water services continue to be the driving force for growth, and real estate has improved markedly. The bank believes that the real asset restructuring will enable the group to further release value, and the integration of the two listed real estate companies is regarded as a key measure for state-owned enterprise reform.