In the first half of 2010, the company achieved operating income of 486 million yuan, an increase of 29.26% over the previous year, operating profit of 500 million yuan, an increase of 33.07% over the previous year, and net profit attributable to owners of the parent company of 39 million yuan, an increase of 43.7% over the previous year. Basic earnings per share are $0.15. The company's main business is commercial real estate, industrial real estate development and property leasing. The business area is mainly Beijing Shunyi Airport Area. The company has concessionary land development rights for the Beijing Tianzhu Airport Industrial Zone and the Tianzhu Export Processing Zone. The Tianzhu Export Processing Zone and the Tianzhu Airport Industrial Zone have been included in the Rinkong Economic Zone, which is a key integrated plan in Beijing's “11th Five-Year Plan.” At present, the company has initially established a business system based on land development business and land value-added business as the development direction. In 2008, the company completed the acquisition of a 57,000-square-meter multi-purpose plant in the development company's export processing zone, and the leasable scale of the property was expanded to 214,000 square meters. Real estate sales revenue increased significantly. In the first half of the year, the company's real estate sales revenue was 198 million yuan, up 222.92% year on year, and operating profit margin was 26.6%, down 3.95 percentage points year on year. Real estate sales revenue increased dramatically, mainly due to an increase in sales revenue from the subsidiary Tianrui Real Estate Enterprise Park Project. The company's other business development was stable. Among them, land development revenue was 53 million yuan, up 22.19% year on year, profit margin was 44.01%, down 37.3 percentage points year on year. The sharp decrease in operating profit margin was mainly due to the fact that the land development cost for current sales was higher than the cost of land development in the same period last year; real estate rental income was 168.614 million yuan, down 9.19% year on year, and operating profit margin was 55.25%, down 3.31 percentage points year on year; construction revenue was 209 million yuan, down 17.75% year on year, operating profit margin 4.25%, a year-on-year decrease of 1.68 percentage points; property management and other income was 4,764 million yuan, a year-on-year decrease of 43.45%, and operating profit margin of 9.55%, a decrease of 10.8 percentage points year-on-year. The company “Rinkong Economy” is worthy of long-term optimism. The company has licensed land development rights for the Tianzhu Airport Industrial Zone in Beijing and the Tianzhu Export Processing Zone. The developed Tianzhu Export Processing Zone and the Tianzhu Airport Industrial Zone have been included in the Rinkong Economic Zone, which is a key integrated plan in Beijing's 11th Five-Year Plan. At present, the company has initially established a business system based on land development business and land value-added business as the development direction. The company's business is currently not limited to the airport area, but has expanded to the Zhaofeng Industrial Base in Shunyi District. Currently, in principle, the state does not approve the establishment of new development zones, which provides a relaxed environment and sufficient policy support for the development of existing development zones. Profit forecast and rating: Predict that the company's earnings per share for 2010 and 2011 will be 0.27 yuan and 0.36 yuan respectively. Based on the company's closing price of 7.64 yuan on August 17, the corresponding dynamic price-earnings ratio is 28 times and 21 times, respectively. The company's stock price currently has no valuation advantage and maintains a “neutral” rating.