1. The development plan is to combine finance and industry to achieve diversified management. Currently, the company's main business includes five sectors: real estate development, waste power generation, clean materials, greening maintenance, and financial equity investment. Taking the first half of 2007 as an example, the company's main business gross profit was 89.46 million yuan, and investment income reached 176 million yuan; of the gross profit from the main business, the real estate business reached 51.7 million yuan, accounting for 58%, and the waste power generation business was 32.74 million yuan, accounting for 37%; of the investment income, mainly the net profit and loss of Bohai Securities under the equity law, this portion of revenue reached 147 million yuan. The company currently holds 26.94% of Bohai Securities's shares. After Bohai Securities's capital increase, the company's shareholding ratio will expand to 32.78%; the company currently holds 5.43% of the shares in Northern Trust. After the transfer of shares held by 8 companies including Tianjin Investment Group Corporation is completed, the company's shareholding ratio will increase to 15.82%. The company is very optimistic about the financial business prospects. Regarding other financial assets under TEDA Holdings, the actual controller of the company, the company said that since financial companies such as Bohai Bank, Hengan Standard Life Insurance, and Bohai Financial Insurance are still in the investment period, the company has no plans to incorporate them. Regional development of the real estate business complements secondary development. The regional development model can obtain cost advantages and resource advantages through cooperation with local governments. This model has achieved great success in the Nanjing Jishan Software Park project, and has now begun to be replicated in Yangzhou and Dujiangyan. However, the regional development model generally has a long development cycle, and using second-level development as a complement can make up for the shortcomings of slow cash return to a certain extent. Currently, the company's second-level development projects are mainly the Nanjing Tolega project. The project consists of three phases, with a total plan of 800,000 square meters. The first two phases, a total of 400,000 square meters, have already been put on the market, and sales conditions are good. The third phase of 400,000 square meters will be delivered in 2008. Another major project in the company's real estate development business is Tianma International Club's Taidaling Shanglinli Villa Project. It is a customer-specific villa project targeting the high-end market, covering an area of 1,050 acres, with promising sales prospects.