The interim results of Cham Dank (0712.HK) turned a loss of RMB 121 million, but Dahua believes that excluding non-cash debt restructuring expenses, the core profit per share is still 0.51 yuan, which is in line with expectations. Although the outlook for the second half of the year is uncertain, it is believed that there will be room for improvement in the average selling price. Although cash on hand has plummeted, it is estimated that there will be no cash flow problems; maintaining the stock holdings, the target price was lowered by 19%, and it is still HK$0.8. It is recommended to wait HK$0.5 before entering the market.