3Q13 results preview – likely to miss N(V): Enters investment phase for game growth Zhaojin Mining：Sequential improvement but still weak Cautious on weak wholesale trend and turnaround plan Seasonal strength, but overcapacity remains 3Q13 in-line; sustainability low in 4Q13E A forgiving valuation supported by in-line Q3 update Consensus-beating results with strong revenue momentum 3Q13 in line; V-shape recovery likely in 4Q13E Q3 beat on volume；stronger Q4 expected