In the first quarter of 2012, the company achieved operating income of 3,5484 million yuan, a year-on-year decrease of 28.38%; operating profit of 16.244,700 yuan, which reversed losses (loss of 9.4533 million yuan in the same period last year); net profit attributable to owners of the parent company was 1,321,800 yuan to reverse losses (loss of 9.4207 million yuan in the same period last year); and basic earnings per share of 0.0437 yuan. Financial situation analysis: At the end of the period, the company had monetary capital of 365 million yuan, a decrease of 50.26% from the beginning of the year; the company had no short-term loans and one-year non-current liabilities; the balance ratio was 31.86%, and the balance ratio after excluding advance payments was 18.62%; the amount received in advance was 195 million yuan, exceeding the 2011 operating income, and the company had no pressure to repay debts. Single real estate project: The company currently sells the Mianshi Xidi Bay Project Phase I. The total planned construction area of the project is about 530,000 square meters, of which the total construction area of the first phase of the project is about 87,000 square meters. Affected by the real estate regulation policy, the company's real estate project sales are not ideal. Selling “Burger King” and focusing on “Strong Thinking”: Selling “Burger King,” the company signed an “Share Transfer Agreement” with Burger King (Hong Kong) Development Co., Ltd. to sell 19% of each of the company's shares in Burger King (Beijing) Catering Management Co., Ltd. and Burger King Food (Shenzhen) Co., Ltd. to Burger King (Hong Kong) for a total price of 5.7 million US dollars. After completing this transaction, the company will no longer hold shares in Burger King (Beijing) and Burger King (Shenzhen). With the acquisition of “Siweinong,” the Company signed an “Share Transfer Agreement” with Beijing Zhongbeineng Energy Technology Co., Ltd., and Zhongbei Energy Company transferred 81% of its shares in Beijing Siweinong Restaurant Management Co., Ltd. to the Company. After completing this acquisition, the company will hold 100% of the shares in Beijing Siweinong Co., Ltd. Profit forecast and investment rating: Since the company's current main business lacks the ability to continue to operate, the relevant business integration process is still highly uncertain, so we will not make a profit forecast or investment rating for the company for the time being. Risk warning: 1. Regulatory pressure on the real estate industry has adversely affected the company's current real estate projects and first-level land development business. 2. SEVENANA, another fast food chain project that the company has invested in, is in a period of expansion, and there are certain risks.