Shift in product mix led to ASP pressure in 3Q17, offsettingvolume growth, which was partly helped by more rush orders
Management guided for c7% OEM volume growth in FY18ewhile ASP is likely to decline by a further 2%
Lower FY18-19e estimates by 7-9%, raise TP to HKD10.7 （fromHKD10.0） as we roll over to avg FY17-18e PE; maintain Reduce