The company announced its 2009 annual report: achieved operating income of 771.9755 million yuan, an increase of 35.52% year on year; achieved operating profit of 103.8825 million yuan, up 29.79% year on year; realized net profit of 171.659 million yuan, up 89.41% year on year; realized net profit attributable to shareholders of listed companies was 171.0605 million yuan, an increase of 89.00% year on year. The electricity business is growing steadily. In 2009, the company completed 507.6847 million kilowatt-hours of power generation, a year-on-year decrease of 4.93%; sold 798.5404 million kilowatt-hours of electricity, an increase of 10.67 percent over the previous year; and sold 19.2976 million tons of tap water, an increase of 15.65 percent over the previous year. As the subsidiary Sichuan Star Hydropower Construction Co., Ltd. increased its revenue by 120.73% over the same period of the previous year, as the city expanded, the company's electricity and tap water grew normally, and operating income and operating costs increased by 35.52%, respectively, over the same period of the previous year. The loan dispute was resolved. Non-operating income increased by 416.75% over the same period last year. This is mainly due to the Huaxia Bank guarantee loan dispute case which has been finally decided by the Guangdong Higher People's Court, and the estimated debt of 80.5 million yuan was recovered and transferred to non-operating income for the current period. The investment project is progressing smoothly. On November 2, 2009, the company signed an “Agreement on the Acquisition of 46% Shares of Ganzi Kangding Hualong Hydropower Investment and Development Co., Ltd.” with Sichuan Minjiang Hydropower Co., Ltd. Hualong Company's registered capital is RMB 40 million, of which: Sichuan Minjiang Hydropower Co., Ltd. invested 18.4 million yuan, accounting for 46% of the registered capital, and is the largest shareholder. Currently, Hualong Company has only a nursery power station under construction. The power plant is located in Yulin Township, Kangding County, Ganzi Tibetan Autonomous Prefecture, Sichuan Province. It is a third-level power station in the cascade development plan for the Yulin River Basin, a first-class tributary of the Zeduo River. It is 3 kilometers from Kangding's new county town. The power plant has a design head of 366 meters, a design reference volume of 9.74 m3/s, two installed units, a total installed capacity of 30,000 kW, an annual power generation capacity of 163.78 million kilowatt-hours, and an annual utilization time of 5459 hours. The feed-in electricity capacity during the normal operation period is 144.469 million kilowatt-hours. According to current feed-in tariffs, the average annual power generation revenue is 35.53 million yuan, and the return on capital can reach more than 8%. At present, the power plant has completed most of the civil construction and unit installation projects. The completed investment accounts for about 80% of the estimated design investment, and it is expected to be put into operation in 2010. By acquiring 30.98 million shares held by natural person shareholders of Aoshenda and holding 65.94% of Aoshenda, the company provided strong project support for the company's project reserves and diversified development, which is conducive to cultivating new profit growth points. Aoshenda has a certain market share in industrial silicon, power cable production, sales, and electrical product management, and has stable business performance and room for improvement; the investment income from participating in Heishui Glacier Hydropower Development Co., Ltd. is stable; Aoshenda and its subsidiaries have carried out extensive work in mineral exploration and development, and have good development prospects. The main project of the Guajundu Power Station project invested by the company (total installed capacity is 2 x 22,500 kilowatts) was fully completed. The two units were officially generated on October 10, 2007 and June 27, 2008, respectively. The power plant generated a total of 134.58 million kilowatt-hours in 2009. The Guojundu Power Station is located in the Fujiang River main stream section of Longfengchang in Suining City. It is a water conservancy hub project that also generates electricity and improves the urban ecological environment, tourism, shipping and flood control. It is a 42nd grade power station developed by the Sichuan Provincial Water Resources Department. The next level of the power station is connected to the Baichansi Power Station already built in Suining City, and the upper level is connected to the Tangjiadu Power Station proposed in Suining City. The partial investment amount of the power plant is about 360,055 million yuan, the installed capacity of the power plant is 45,000 kilowatts, the annual power generation capacity is 2281.4 million kilowatt-hours, and the annual utilization time is 5070 hours. The project has a storage capacity of 75.88 million cubic meters, forming a surface of 13.2 square kilometers. After completion, it will be the largest reservoir in the city. The company expects to generate 480 million kilowatt-hours of electricity, sell 850 million kilowatt-hours of electricity, and sell 21 million tons of tap water in 2010.