The company achieved operating income of 454 million yuan in the first half of this year, an increase of 1.12% over the previous year, and net profit attributable to shareholders of listed companies of 19.1 million yuan, an increase of 4.08% over the previous year. The performance was in line with market expectations. The main business remained at a low level. The company's traditional business, including color photosensitive materials, new materials, and photographic chemical materials, remained stable year on year, while the sharp increase in other types of business contributed to the increase in revenue in the first half of this year. We believe that the company's traditional business has not improved significantly. Meanwhile, Shantou Lekai Film Co., Ltd., a wholly-owned subsidiary of the company, achieved revenue of 163 million yuan and net profit of more than 12 million yuan in the first half of the year, showing a good level of operation. Actively transforming, the fixed increase project enters lithium battery separators. The company plans to increase 600 million yuan to invest in new lithium battery separators and solar battery backplane expansion projects. As a leading enterprise in the domestic color film and photo paper industry, the company has accumulated a large number of core technologies related to film formation, coating, and particle dispersion, and these mature technical support will help the company move faster and faster on the path of localization of high-end lithium battery separators. Wet diaphragms are used in new energy vehicles to position the middle and high-end. The company's fixed expansion projects include 40 million square meters of wet diaphragms and 15 million square meters of diaphragm coating. At present, the company's pilot products have successfully obtained certification from large downstream lithium battery manufacturers, and the feedback has been positive. We believe that the future development of new energy vehicles will drive a rapid increase in demand for lithium battery separators, and the company's wet coating diaphragms are expected to meet the stringent performance requirements of power batteries in all aspects. The strategy of positioning the middle and high-end will ensure that the company's diaphragms stand out from similar domestic products, thus giving new wings to the company's development. Profit forecast: We expect the company's EPS for 14-16 to be 0.13 yuan, 0.18 yuan, and 0.4 yuan, giving it an increase in holdings rating for the first time.