Overview of results for the first quarter of 2010. From January to March 2010, the company achieved operating income of 29.6.02 million yuan, a year-on-year decrease of 12.16%; operating profit of 9.410,500 yuan, compared to -10.7017 million yuan in the same period of the previous year; net profit attributable to the parent company was 9.6395 million yuan, compared to -9.8704 million yuan in the same period last year; and achieved basic earnings per share of -0.05 yuan. The company is heavily indebted, and its effective asset income is insufficient to support the company's expenses and costs, which is the main reason for the loss. It is difficult to operate and is insolvent. The company's main business is the tourism and catering industry, property management and housing rental. Among them, the tourism and catering industry achieved revenue of 92.635 million yuan and gross profit of 74.5885 million yuan in 2009, which is the most important source of revenue and gross profit. In terms of travel and catering, the company's two hotels declined in 2009 due to fierce competition, etc., causing the operating income of the tourist restaurant industry to drop 12.53% year on year; in terms of property management and housing rental, rental revenue fell 10.54% year on year due to forced auctions of the company's properties for rent. The company's real estate development and operation business is at a standstill. The development carrier Shenzhen Segdasheng Real Estate Development Co., Ltd. has been suspended from its real estate development qualification. Coupled with the company's small scale and strength in the real estate industry, it is currently unable to obtain land for development, so the company has decided not to invest in the real estate development industry for the time being. In 2009, the 20th, 21st, 22nd, and 23rd floors of Block A of Hyundai Window Building owned by the company were forcibly auctioned, which will also affect the company's future revenue. Currently, the company's balance ratio is as high as 118.54%, an increase of 3.55 percentage points over the beginning of the period, and is already insolvent. Main concern 1: At present, the company's effective assets still cannot enable the company to get out of the situation of financial difficulties and operating losses. Therefore, the company's board of directors and management continue to actively seek powerful partners to adopt all effective measures to improve the company's business conditions, and it is not ruled out that any method can be used to increase the company's operating capacity and net assets. Main focus 2: The company will actively negotiate with creditor banks and creditors, use debt restructuring methods to resolve the company's overdue loan transfers or debt reduction efforts, and seek debt restructuring with remaining creditors. Risk warning. Although the company resolved some debt disputes in 2008 and 2009; however, the company still has overdue debt disputes that have yet to be resolved and is in the midst of operating difficulties. The current main business is insufficient to support the company's current debt size, and faces greater debt risks.