Product structure improvements and cost control contributed to significant performance growth in the third quarter; the company achieved operating income of 11.010 billion yuan, a year-on-year increase of 20.55%; achieved net profit attributable to the parent company of 733 million yuan, an increase of 34.30%; achieved EPS of 1.41 yuan; of these, the third quarter achieved operating income of 4.604 billion yuan, an increase of 27.63% over the previous year, and realized net profit attributable to the parent company of 311 million yuan, a year-on-year increase of 68.97%, and EPS 0.60 yuan. We believe that the reason for the significant increase in performance in the third quarter is (1) the company's export ratio increased, product structure improved, and product gross margin reached 17.55%, up 0.37 percentage points from month to month, up 0.17 percentage points from year to year; (2) the cost ratio for the third quarter was 8.80%, down 0.57 percentage points year on year. The company's market share of large and medium customers increased steadily, and maintained steady growth throughout the year. From January to September 2011, the company sold a total of 31,700 vehicles, up 12.56% year on year; of these, large and medium customers sold 293,000 vehicles, up 15.87% year on year, and their share in the large and medium passenger market was 26.64%, up 1.35 percentage points year on year. We maintain a cautious attitude towards the large and Chinese customer industry, but the company is a leading enterprise in the industry, and we believe that the company's market share will increase steadily. We maintain the judgment that the company's sales will increase by around 10% this year. Profit forecast We maintain the company's 2011-2013 EPS of 2.00 yuan, 2.30 yuan, and 2.63 yuan, respectively, and maintain the “hold” rating.