During the reporting period, the company achieved operating income of 1,124 billion yuan, an increase of 16.12% over the same period last year; total profit of 485 million yuan, an increase of 56.93% over the previous year; and net profit of 357 million yuan, an increase of 57.31% over the previous year. It achieved basic earnings per share of 0.17 yuan, an increase of 57.36 yuan over the previous year; return on net assets was 5.93%, an increase of 2.01 percentage points. The sharp increase in the company's performance during the reporting period was mainly due to the increase in toll revenue compared to the same period last year; the company vigorously implemented energy saving and consumption reduction measures, strictly controlled costs and expenses, and operating costs fell compared to the same period last year. On June 7, 2010, the board of directors approved the company's investment of about 1,858 billion yuan to build the Jining to Qimen Expressway and Lianhuo Expressway to Yongdeng Expressway project. It is planned to start construction in 2010 with a construction period of 36 months. The advancement of this project will further expand the size of the company's debt. Until 2013, the company planned many reconstruction and renovation projects, and had large capital expenses. Investments during the construction period of the Jiqi Expressway would also continue until 2013, and bank loans ranging from 400 to 500 million dollars would be added every year, so for the company's balance ratio of over 74% and short-term financial pressure, it made matters worse. By 2013, the project will increase the company's bank loans by 1.39 billion yuan, and the company's balance ratio will reach 75%, which will definitely affect the company's performance in the next few years. Currently, the company has many projects to be built, and the next few years will put a lot of pressure on the company's performance to improve. We believe that after the company completes the acquisition of Xinzheng Expressway in the future, it will be of great help to improve the company's performance. The Xinzheng Expressway is the northern section of the Beijing-Zhuhai Line in Henan. It is connected to the company's existing road construction, the Zhengluo Expressway. If the acquisition is successful, the Beijing-Zhuhai Line section in Henan will almost be owned by the company. The Beijing-Pearl Expressway is an important north-south highway in China's “7918” highway planning network. Truck traffic can reach about 50% within Henan, and the revenue is quite impressive. However, since the company's balance ratio is as high as 74.46% at this stage, which does not meet the requirements of the “Toll Road Equity Transfer Measures”, the Xinzheng Expressway asset injection project is currently on hold. The company is expected to achieve basic earnings of 0.29, 0.32, and 0.34 yuan/share in 10, 11, and 12. Based on the closing price of 3.83 yuan on August 23, the current price-earnings ratio of the company's stock price is 13.21X, 11.97X, and 11.26X. We raised the company's rating to “increase in holdings.”