The company's 2009 semi-annual report revealed that the company achieved operating income for the year and net profit attributable to shareholders of the parent company were: 169 million yuan and 121 million yuan respectively, with year-on-year increases of -8.20% and 452.10%; achieved diluted earnings per share of 0.33 yuan, an increase of 452.58% over the previous year. The decline in operating income was mainly due to large electricity users (mainly high-energy companies) in the power supply area (Liangshan Prefecture) being hit by the financial crisis and production capacity shrank, which led to a sharp drop in electricity demand. In the first half of 2009, the company completed 209.81 million kilowatt-hours of power generation, a year-on-year decrease of 18.05%, and completed a total power supply of 445.74 million kilowatt-hours, a year-on-year decrease of 12.62%. Sources of electricity purchased in the company's power business include the Sichuan power grid, small hydropower in the region, and self-generated electricity. Among them, self-generated power accounts for half of the electricity sold, and the company has a high gross profit margin. Considering that the decline in self-generated power generation was greater than the decline in electricity sales, the company's operating profit margin declined from 52.39% to 48.98% compared to the same period last year. The decline in operating income and gross margin led to a sharp decline in the company's net profit after deducting non-recurring profit and loss, reaching 37.44%. The company's net profit attributable to shareholders of the parent company increased dramatically during the reporting period, mainly due to the resolution of part of the guaranteed debt problem, which overtook part of the anticipated guarantee losses, resulting in an unrecurring profit and loss of 106.6 million yuan. The company's future development depends on the epitaxial expansion of installed capacity and the increase in electricity demand in the power supply area. The company's installed capacity has great opportunities to expand in the future. Currently, the company's installed capacity is nearly 130,000 kilowatts. With the completion of hydropower projects such as the Muli River and Yongning River, the company's installed capacity will be greatly increased; the industrial structure of Liangshan Prefecture determines that high energy consumption is still the focus of regional economic development. With the recovery of energy-intensive industries, electricity demand is expected to maintain a certain increase in the second half of the year and the next few years. Sichuan Power Grid has become the company's largest shareholder, contributing to the company's long-term development. On the one hand, it has obtained support from the Sichuan Power Grid in purchasing electricity, water and electricity access, and on the other hand, obtaining resources for development on a larger platform. Investment risk: Hydropower is greatly affected by incoming water conditions, and there is some uncertainty about the recovery in electricity demand.