Expansion of production capacity in the main business. Tianjin TEDA is currently constructing a second waste-to-energy project. The new project is expected to be put into operation next year, when the company's daily waste disposal capacity will reach 1,000 tons. At the same time, the company is setting up a new production line, and production capacity for clean products is expected to double. Bohai Securities made a major profit contribution. After completing the Bohai Securities acquisition project at the end of 2006, Tianjin Teda held a 26.94% interest in Bohai Securities and became its controlling shareholder. The net profit of Bohai Securities in the first quarter of 2007 was 230 million yuan, achieving revenue of 61.96 million yuan for Tianjin TEDA. The company expects the profit contribution of Bohai Securities in the first half of 2007 to be quite impressive. 75% of Bohai Securities's revenue comes from proprietary business and stock brokerage business. Trust investment business interests held. Tianjin TEDA holds 15.82% of the interest in North International Trust and Investment Corporation and is a major shareholder of North International Trust and Investment Corporation. In 2006, Northern International Trust & Investment Corporation made a profit of 20 million yuan. After the lawsuit ended in 2006, the company resumed trust business, and we expect the trust investment business to bring more revenue in 2007. The income from the real estate business is impressive. As for the company's real estate business, the first phase of Nanjing Xincheng made a profit of 37.52 million yuan in 2006. Phase 2 of the project has just been completed and will be on the market soon. The company expects the 2007 Nanjing New Town project and other projects, including Tianma International Club and Tianjin TEDA City, to bring substantial revenue. Tianjin TEDA has certain land reserves in Tianjin and will actively seek more land reserves in Yangzhou and Sichuan.