In 2009, the company achieved operating income of 1,439 billion yuan, a year-on-year decrease of 31.19%; operating profit of 110 million yuan; and net profit attributable to owners of the parent company - 89.3 million yuan. EPS: -0.09 yuan, no allocation plan. In the fourth quarter, the company achieved operating income of 350 million yuan, an increase of 2% over the previous month; net profit attributable to owners of the parent company - 65.86 million yuan, a loss of 80.31 million yuan more than the same period last year. EPS: -0.07 yuan. Exports dragged down performance throughout the year. The company's export revenue fell 51.21% year on year in the first half of 2009 and 68.69% year on year in the second half of 2009, and the decline in exports continued to increase. According to data from the China Automobile Association, in 2009, motorcycle exports fell 35.7% year on year, and export value fell 31.71% year on year. Among them, exports of models with 100ml to 125ml displacement declined the most. The volume of the company's main export models is 100ml-125ml, and the decline in the company's exports is greater than the industry average. The expense ratio for the period increased by 6.28% year on year, and losses increased. In 2009, the company's operating income declined sharply, leading to a corresponding increase in dilution costs. Among them, the sales expense ratio and management expense ratio increased by 3.0 and 2.7 percentage points year-on-year respectively, and the full-year expense ratio reached 18.19%, which deviated from the company's normal period expense rate level, leading to an increase in the company's losses. The company's domestic motorcycle sales have increased, and the export situation is still uncertain. In 2009, the company's domestic business revenue increased 1% year on year, and the domestic business achieved revenue of 509 million yuan in the second half of the year, an increase of 9.0% over the previous year. Benefiting from the “Motorcycles to the Countryside” subsidy policy, the company's domestic business has gradually picked up. Considering that the implementation of the National 3 standards from July 1 will cause an increase in daily maintenance costs for motorcycles, which may suppress some demand, the company's domestic business is expected to achieve a slow growth rate of about 5% in 2010. The company's annual export business fell 59.95% year on year and 97% month on month in the second half of the year. The company's business did not follow the same recovery of the industry; it may be related to the company adjusting its development strategy and increasing domestic sales. According to data from the China Automobile Association, motorcycle exports began to slowly pick up in the fourth quarter of 2009. In January-February 2010, motorcycle exports increased 35.17% year on year, and it is expected that the motorcycle export business will slowly pick up throughout the year. Considering that the company's sales focus may shift to China in 2010, the growth rate of export business may be lower than the growth rate of the industry. It is estimated that the company's export business will increase by about 7% year on year.