Overview of results for the first three quarters of 2009. From January to September 2009, the company achieved operating income of 99.76 million yuan, a year-on-year decrease of 18.19%; operating profit of 30.21 million yuan, or -29.52 million yuan in the same period of the previous year; net profit attributable to the parent company of 55.31 million yuan, or -3.207 million yuan in the same period of the previous year; achieved basic earnings per share of 0.3 yuan, compared to -0.17 yuan in the same period last year. Among them, the third quarter (July-September) achieved operating income of 36.18 million yuan, a year-on-year decrease of 13.66%; operating profit of 5.43 million yuan; net profit attributable to the parent company of 23.55 million yuan, compared to 32.07 million yuan in the same period last year, achieving a basic income of 0.13 yuan per share. Overview of company fundamentals: The company's main business is the tourism and catering industry, property leasing and management, and the real estate industry. Among them, the travel catering industry is currently the company's main source of revenue and profit. In the first half of 2009, the tourism and catering industry had revenue of 40.82 million yuan, accounting for 64.21% of the company's revenue and 66.53% of gross profit; revenue from property leasing and management was 22.75 million yuan, accounting for 35.78% of the company's revenue and 33.47% of gross profit. Due to the small scale of the company's real estate within the industry, due to the small scale of capital, the company currently does not have any real estate projects, so there was no real estate business revenue during the reporting period. Analysis of the three-quarter report: Profit mainly comes from non-operating income. The company reversed losses in the first three quarters based on realized operating profit of 30.21 million yuan and net profit of 55.31 million yuan. This was all due to a sharp increase in non-operating income, mainly due to debt restructuring proceeds of 28.97 million yuan and forced real estate auctions, where the auction transaction price was 56.32 million yuan higher than the book value. Company business analysis: The company's revenue fell 18.19% year on year in the first three quarters of '09, mainly due to intense competition between Grand Holiday Inn Hotel and Xiamen Asia Bay Hotel, which led to a decline in room occupancy rates and a decline in operating revenue, plus no revenue from the real estate business. The company's current balance ratio is 105.51%, and it is already insolvent. Borrowing accounts for 42.65% of total assets, making it quite difficult to operate. Asset restructuring may have become a lifesaver for the company. Therefore, in November 2008, the company originally planned to inject mineral assets through targeted additional issuance, but the transaction was suspended due to the failure to obtain a production safety license as scheduled, and no progress has been made so far. Risk warning. The company is currently insolvent, and most of its debts are overdue and in a state of litigation. Currently, most of its assets are already mortgaged, seized, or awaiting seizure, and the vast majority of claims have already been sued or entered into enforcement procedures, so it is doubtful whether it can continue to operate.