From January to January 2010, the company achieved operating income of 319 million yuan, up 62.84% year on year, down 12.42% month on month; net profit attributable to parent company owners was 6.2 million yuan, or -3.08 million yuan in the same period last year, down 2.36% month on month; EPS was 0.02 yuan. The company's consolidated gross margin fell 9 percentage points in the first quarter compared to the previous quarter. The company's comprehensive gross margin for the first quarter was 0.80%, down 12.10 percentage points year on year, down 9.44 percentage points from month to month; the cost ratio for the period was 9.48%, down 2.95 white points year on year, up 0.39 percentage points from month to month. Among them, the sales expense ratio was 2.73%, up 0.45 percentage points from the previous year, up 0.05 percentage points from the previous month; the management expenses ratio was 3.99%, down 1.53 percentage points from the previous year, up 0.70 percentage points from the previous month; and the financial expenses ratio was 2.76%, down 1.87 percentage points from the previous year and 0.36 percentage points from the previous month. Debt restructuring in the first quarter benefited $40 million. The company's first-quarter debt restructuring revenue was 37.74 million yuan, which was the main reason for the company's loss. After deducting the profit from debt restructuring, the company's net profit was 31.54 million yuan, equivalent to EPS of -0.12 yuan. We expect that in a situation where the price of Tianjiao, the main raw material, fluctuates at a high level, the company's cost pressure will increase markedly. Without considering non-recurring factors such as debt restructuring, the loss in 2010 is a probable event. Asset restructuring may bring new opportunities to the company. The controlling shareholder of the company is CRRC Group, and the actual controller is China Chemical Group. Currently, the company is suspending trading due to planning a major asset restructuring. We have already mentioned in our review of the company's 2009 annual report that Fengshen Co., Ltd. will act as an integrated platform for tire assets under the China Chemical Group. The company's tire assets may be divested to Fengshen shares, and the company may be injected into other assets as shell resources. This suspension of trading may indicate the launch of the company's asset integration plan, which may bring new opportunities for the company to develop. Profit predictions, investment advice, and risk tips. Considering the uncertainty of asset restructuring, we will not give profit forecasts for the time being and maintain the company's “neutral” investment rating. Company risks are mainly reflected in the risk of uncertainty in restructuring, the risk of price fluctuations in the raw material Tianjiao, the risk of large market systems, and the risk of macroeconomic policy adjustments.