The listing of the participating company Yantai Wanrun is expected to increase the value of the company. The company participated in Yantai Wanrun and held 26.58% of the company's shares. Yantai Wanrun may submit the IPO application materials again to the Securities Regulatory Commission in the near future. Yantai Wanrun achieved net profit of 99.8 million yuan in 2010. Assuming that Yantai Wanrun achieved 30% growth in 2011, 50 times the price-earnings ratio of similar listed companies, equivalent to the company's value of 7 yuan per share. According to the issuance of 35 million shares according to Yantai Wanrun's application materials, Yantai Wanrun earned 0.94 yuan per share. Considering that the fund-raising project brought about rapid growth for Yantai Wanrun, the value per share was 75.2 yuan, which is equivalent to the company's value per share of 8.05 yuan. Lupin Real Estate has entered a period of release of results. Two real estate projects of Lupin Real Estate, a holding subsidiary of the company, have entered the harvest period, in Qingdao Lupin Style Street and Jinan Lupin Galaxy Tower. The Lupin Galaxy Tower sold in its entirety at a price of 660 million. The project is expected to bring considerable profits to the company in 2011. Lupin Style Street is expected to open in August 2011. The project will contribute to the company's performance in 2012. Haojie Mining is expected to start production during the year. The company acquired 55% of Qingdao Haojie Mining's shares. Qingdao Haojie has prospecting rights for a block with an area of 15.1 square kilometers. There are 5 iron ore bodies in the exploration block, of which body No. 2 has proven reserves of 4.845 million tons. The company obtained a mining license for ore body No. 2 in August 2009. It is expected that the project will be completed in June 2011, and it is expected to produce iron ore during the year, reaching 200,000 tons of iron powder per year after delivery. Powder metallurgy companies are expected to benefit from the rapid development of the automotive industry. Laigang Powder Metallurgy Company is a leading enterprise in the domestic iron powder industry, accounting for about 25% of the domestic market share. It now has an annual output of 60,000 tons of water-atomized iron powder and 40,000 tons of reduced iron powder. The automobile industry has the greatest demand for steel powder, and the rapid growth of the automobile industry will inevitably drive the development of the steel powder industry.