The company achieved operating income of 6.5718 million yuan, an increase of 9.53% year on year; operating profit of 16.3947 million yuan, up 95.08% year on year; net profit attributable to the parent company was 5241,000 yuan, up 115.51% year on year, with basic earnings per share of 0.138 yuan. The company turned a loss into a profit as a whole due to receiving 80 million yuan of non-operating income. The company turned a loss into profit in 2011 mainly due to receiving 80 million yuan in financial subsidies. The company changed its controlling shareholder, and the new controlling shareholder was Langfang Land Development and Construction Investment Company. After changing the majority shareholder, the company received an operating financial subsidy of 80 million yuan from the Langfang Municipal Finance Bureau. The main business lost money, but the loss is declining. The company's revenue was 6.5718 million yuan, operating costs 244.48 million yuan, and operating profit - 16.395 million yuan. In 2011, the company's asset impairment losses decreased by 334 million yuan compared to 2010, which is also the main reason for the reduction in main business losses. The business direction was approved by the new board of directors. The company will continue to develop park investment, construction, operation, project management and consulting services, investment promotion business, commercial real estate management, and real estate consulting services. The issue of subsidiary debts and liabilities is gradually being resolved. The company and China Tietong Group Co., Ltd. are cleaning up Tietong Huaxia Telecom Co., Ltd. in an effort to revitalize its existing assets and clear up debts. We are currently in the process of verifying the claims and liabilities. The company changes major shareholders frequently. According to recent years, the company's annual report revealed that in the past four years, the company changed major shareholders in 2008, 2009, and 2011, respectively, and the number of changes was frequent. Profit forecast and investment rating: Considering that the company has only determined the direction of its main business, it has not yet formed a stable profit model, and that turning losses into profits in 2011 was the result of financial subsidies, we will not make profit forecasts and investment ratings for the time being. Risk warning: Uncertainty in main business, risk of macro-control policies.