Key investment results reversed year-on-year losses, and full-year performance is expected: operating income for the first quarter of 2015 was 110 million yuan, down 8.48% year on year; operating profit was 1,600.1 million yuan, compared with -1.07 million yuan for the same period last year; and net profit attributable to shareholders of listed companies was 2,826,200 yuan, compared to -4.83 million yuan for the same period last year. The performance reversal shows that the company's operations and internal management are back on track. We look forward to the company's performance throughout the year. With the return of the former chairman, the performance performance is already very obvious. We look forward to this year's strategic layout: in 2012, the former chairman fled overseas on suspicion of bribing relevant departments of the Ministry of Railways. Currently, Xu Yusuo, the former chairman and legal representative, voluntarily surrendered to the People's Republic of China and is currently on bail awaiting trial. After that, 1) 2014 performance declined from forecast to growth, from a 55% to 25% decline in the original three-quarter report to an 18% increase 2) Reduction in shares in Kunpeng Communications (changed to a merger table); 3) An investment company was established as a platform for extended development. We believe that a series of events have shown that the return of the chairman of the board has given a great boost to the company's operations. The orders in the fourth quarter exceeded expectations and the year-on-year loss in the first quarter are a reflection of the company's business level getting back on track. Furthermore, the company's loss of some of Kunpeng's shares and the establishment of an investment company all indicate that the company recently has clear management and strategic ideas. 2015 will be an inflection point in the company's performance, and a year worth looking forward to at the strategic level! Investment advice and ratings: Given the company's leading position in the RFID industry, the return of the former chairman to China will bring about rapid development of the company after two years of slump and maintain the “increased holding” rating. The EPS is expected to be 0.12, 0.17, and 0.24 yuan from 2015 to 2017. Risk warning: The former chairman ruled that the results are still uncertain, and the company's business development falls short of expectations.