In 2009, the company achieved operating income of 928 million yuan, a year-on-year decrease of 23.71%; operating profit of 67.735 million yuan, an increase of 12.55% over the previous year; net profit attributable to the parent company of 62.1332 million yuan, an increase of 23.64% over the previous year; and realized earnings of 0.14 yuan per share without distribution during the reporting period. Overview of the company's fundamentals: The company is transforming into the first listed financial company around the development strategy of “class finance as the lead, trade and real estate as the two wings”; its main subsidiaries include Xiangyi Financial Union, which holds 70% of the shares, Xiangyi Guarantee, 90% of the shares, Xiangyi Leasing, which holds 90% of the shares, and Yuantai Pawn, which holds 82% of the shares; in 2008, companies affected by the economic downturn revealed a lot of problematic loans. Currently, the company's private offering raised 1.5 billion yuan for leasing and leasing and guarantee business. The decline in commercial and trade business revenue is the main reason for the decline in the company's revenue. Affected by the economic downturn at home and abroad caused by the international financial crisis, the company's trading business revenue declined. Commercial business revenue in 2009 was 725 million yuan, a year-on-year decrease of 26.36%. As business revenue accounted for more than 90% of total revenue, the company's total revenue declined. Affected by the slow recovery of Zhejiang's export-oriented economy, the company's product sales revenue continued to show a downward trend, but the decline narrowed somewhat. In the same period, the company strengthened the operation and management of the trade business, which led to a slight recovery in the gross margin of the commercial business compared to last year. With the gradual recovery of domestic and foreign economies, the company's trade business will gradually break out of a slump. The scale of the pawnbroking business has shrunk to control risks, and future development can be expected. The pawnbroking business that the company focused on building was affected by a sharp increase in bad debts and lawsuits last year, and took the initiative to strategically shrink in 2009. Interest income from pawnbroking fees continued to decline by 43.36% from a 30.02% decline last year, and the decline increased by 43.36%. However, the company's resolute pawnbroking risk control measures have made preparations for additional suspicious and loss-type loan losses have basically stopped. The share of normal loans in 2009 was 74.33%, up about 7 percentage points from 2008, the share of questionable loans fell 7 percentage points to 25.51%, and the scale also decreased by 24.5% from 228 million yuan to 172 million yuan. Asset impairment losses for the year were 34 million yuan, down 34.82% from the same period last year. This has further increased the gross profit level of the pawnbroking business. The company's pawnbroking margin in 2009 was 92.65%, up about 9 percentage points from 2008. This reflects the high-risk and high-profit characteristics of the company's business. As the company continues to improve its pawnbroking risk control system, the gradual recovery of the future economy and the gradual improvement of the conditions of loan companies, the pawnbroking business is expected to re-enter the path of rapid growth after experiencing this sharp decline. Furthermore, the sharp expansion in the scale of bank loans in 2009 also affected the development of pawnbroking business. With bank loan policies being tightened in 2010, the business environment of pawnbroking business will improve somewhat.