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HPG - Deft steel business execution results in soaring Q2 GPM - Earnings Flash

As we reported previously, MOIT’s final decision on the application of an anti-dumping tariff removed the barrier which had kept us conservative regarding our assumptions for HPG. Furthermore, H1 2016 NPAT exceeded our expectations with strong sales volume and higher ASPs that resulted from the MOIT decision. We are therefore likely to increase our target price in the coming update report.