Incident: The company announced that four hospitals in the Pingtan Strait Medical Park Construction Project (Phase I), have obtained corporate business licenses in Pingtan County, namely rehabilitation hospitals (registered capital 15,530W, same below), otolaryngology hospitals (10,100W), dental hospitals (8,920W), and aesthetic hospitals (9,970W), all of which are wholly owned by the company. Comment: The partner for the medical park project has a **** background and internationally leading medical technology. The company has been in contact with **** medical institutions for many years. Previously, it also cooperated with **** medical institutions to participate in the investment, construction and operation of Yan Fu Memorial Hospital and Mawei Sanjiangkou Hospital, and already has the ability to integrate Taiwan's high-quality professional medical resources and medical teams. The medical park project plans to cooperate with international specialist medical cooperation organizations, mainly Taiwan's premium specialist medical teams. Taiwan's medical technology is in a leading position in Asia. By establishing a cross-strait cooperative hospital to graft Taiwan's high-quality medical resources, it has become a bridge and link for mainland residents to enjoy Taiwan's high-quality medical services, and the company's specialty medical programs have broad domestic market demand. Pingtan Island has the advantage of developing health and medical tourism. Location: Pingtan Island is the closest region in mainland China to Taiwan's main island, which is conducive to attracting outstanding **** medical personnel to practice in Pingtan; policy aspect: The “Pingtan Comprehensive Experimental Zone Overall Development Plan” states that improving the diversified medical treatment system, encouraging private capital and foreign capital to set up medical institutions, and supporting cross-strait cooperation in setting up medical and health facilities. At the same time, Pingtan Island plans to build an international tourist island in the future, and health and medical tourism will be one of the future features of Pingtan Island. The advantages of financial services in free trade zones are obvious. In June 2013, the company invested in the establishment of Pingtan Zhonghui Microfinance Co., Ltd., holding 28% of the shares, with a capital of 120 million yuan. On the one hand, the financial business has become a new performance growth point for the company. On the other hand, in the context of loose financial support policies in free trade zones and convenient overseas low-cost financing, the company's financial business is expected to develop rapidly, providing convenient and low-cost financing channels for the company's future project expansion. Profit forecast and investment rating: Currently, the Pingtan government is applying for a free port. The free port will bring more favorable policies and relaxation. The liberalization of the free port's relevant policies will bring endless room for imagination to the long-term discovery of the entire Pingtan Island; the company is the only listing platform on Pingtan Island and is scarce; the chairman has many years of experience in politics and extensive networking resources. He has signed a comprehensive strategic cooperation agreement with the Pingtan Management Committee. It is expected that the medical park project has obtained a business license. The health care tourism strategy is progressing rapidly, and I am optimistic about the company's long-term development space. Maintain an “Overweight” rating. Risk warning: The overall development of the Pingtan Experimental Zone fell short of expectations, and the company's project progress fell short of expectations.