The company, formerly known as SST Xinzhi, was listed under the cover of 8.59 yuan/share by Huali Family in July 2007. The company's equity construction area is 967,000 square meters, namely the Suzhou Taishang Lake Project, the Shanghai Fuxing Tiandi Center Project, and the Huijing Tiandi Project being acquired. All three projects have excellent geographical locations and average gross margins above 50%. According to the promises of the holding stock Dongjiang Group during the asset restructuring in 2008, the total net profit attributable to the owners of the parent company achieved by the company in 2009 and 2010 will not be less than 600 million yuan. If the actual realized profit is lower than the promised amount, Nanjiang Group will make up for the difference between the actual realized net profit and the number of promised profits in the listed company in cash. Since the company achieved net profit of only 94 million yuan in 2009, according to this promise, the company's profit attributable to the parent company in 2010 will not be less than 505 million yuan, that is, EPS will reach 0.96 yuan in 2010. The company's main source of profit in 2011 will be the Huijing Tiandi project currently being acquired and the townhouse portion of the Taishang Lake Phase II project. Huijing Tiandi opened on June 27, '10. Residential buildings 1 and 2 were launched, with a total number of 200 units. 17 units were sold within a week. The average contract price was about 50,000 yuan/square meter. According to data from the Shanghai Real Estate Exchange Center, the average reference price for the project is 75,000 yuan/square meter. The company adopted a strategy of entering the market at a low price, hoping to return sales capital as soon as possible to ease financial pressure. As the market picks up, it is believed that the subsequent price of the project will show an upward trend. Starting in 2012, Shanghai Fuxing Tiandi Center will also start contributing to profits. The project is located in a prime location in the center of Shanghai's Puxi. It is adjacent to the “Xintiandi” and Huaihai Road commercial areas on the north side, and is located at the intersection of subway lines 10 and 13. The price is expected to be over 100,000 yuan/square meter. The company's management increased its holdings of the company's shares in May 2009. The cost of holding shares was 8.84 yuan/share and 8.94 yuan/share, respectively, reflecting the management's optimism about the company's future development prospects. Currently, the stock price is close to the cost of holding shares for company executives, and even fell below the cost of holding shares at one point. At the same time, judging from the price of shell resources of 8.59 yuan, the company is currently at a low level, close to the bottom line of the company's value. The company's 10-year and 11-year equivalent dynamic PE is 9.7X and 7.3X. The company's NAV at the end of 2009 was 12.08 yuan, P/NAV was 0.77, and NAV was 23% off. The company's valuation level is low. Considering the certainty and growth of the company's 10-11 year performance, an increase in holdings was rated this time.