The company achieved 1.167 billion yuan in revenue in the first half of 2010, up 47.1% from the same period last year, and the net profit attributed to the parent company was 50.37 million yuan, down 13.8% from the same period last year. The company's comprehensive gross profit margin for the first half of the year was 22%, 0.1 percentage point higher than that of the same period in 2009. Benefiting from the boom in the automotive industry, the company's auto parts business revenue has grown rapidly, but due to the increase in expenses and the increase in the income tax rate of subsidiaries, the profits belonging to the parent company have declined compared with the same period last year. The company has announced the withdrawal of the private placement, and we expect that with the completion of the asset integration of Guihang Group and AVIC Tongfei, the company will start the asset injection again. We lowered the company's target price to 20.65 yuan to maintain the buy rating.