Investment advice. With the “coal-power linkage” slow to restart, the future profitability of Zhangze Electric Power's power generation business is still not optimistic. The company's main focus in the second half of the year is still the electrolytic aluminum business. In the first half of the year, Huaze Aluminum Factory, a shareholding subsidiary, turned a loss into a profit. It is expected that the second half of the year will still contribute a certain amount of investment income to the company. Maintain the company's “neutral” investment rating. Since the trend of changes in the Japanese yen exchange rate is difficult to judge, we conservatively forecast that the earnings per share of Zhangze Electric Power in 2010 and 2011 will be -0.119 yuan and -0.093 yuan, respectively