Che Yi is in full swing developing various businesses in the automotive aftermarket. Che Yi's main work priorities in 2015 include: 1) On the B2b side, the company has already entered the field of warehousing and logistics in Shanghai through mergers and acquisitions, and the layout of local warehousing and distribution points has begun, which will solve the problem of timely and rapid logistics distribution of small B-side spare parts and establish a closed loop of transactions. 2) Maintenance shop management system development. The system has now basically completed the testing stage and has begun to enter the promotion stage. The system can implement several functions, such as customer relationship management, membership card management, repair shop order acceptance and dispatch management, parts demand management, parts inventory management, etc. 3) Cooperate with car insurance companies. The company mainly focuses on the car insurance company's resources in users and cooperative repair shops. Once achieved, it will greatly promote Che Easy's business development. Longji Machinery agreed with the Chee Easy business model, and Che Easy has core competitiveness in the aftermarket. Longji Machinery currently holds about 37% of Che Yi's shares. Although it does not hold shares, Che Yi is the largest shareholder. Longji Machinery is very appreciative of Che Yi's current development model. Che Yi adopted the C2B2B model to open up the entire aftermarket industry chain and effectively solve the pain points of users in all sectors of the aftermarket. Moreover, Che Easy has an accurate matching database of spare parts and complete vehicles, and has a clear core competitive advantage. Car Easy will be an important platform for Longji Machinery to intervene in the automotive aftermarket in the future. Longji Machinery's brake products are fragile and consumable goods, while Longji Machinery currently mainly focuses on the OEM market and will enter the domestic aftermarket business through Chee Easy. Traditional businesses are rising steadily. The company is a leading domestic manufacturer of braking system products (brake discs, brake hubs, brake pads, etc.), and has core advantages in foundry technology and production capacity. In 2015, through a joint venture with Germany's SHW, the company enhanced its technical strength and brand strength in braking system products, so as to enter the international OEM market in the future, and also facilitate the company's entry into the domestic joint venture braking system support market. The plant is currently under construction and is expected to be put into operation within the year. Trial production of the company's caliper project has begun, further enriching the company's product line of braking systems. Calipers are characterized by high gross margin and are expected to become another business growth point for the company. Profit forecasts and investment advice. We expect the company's 2015-2017 operating income to be 1.35 billion yuan, 1.5 billion yuan, and 1.68 billion yuan, respectively, and net profit attributable to the parent company of 74 million, 90 million yuan and 106 million yuan respectively. The company's 2015-2017 EPS is expected to be 0.25 yuan, 0.30 yuan, and 0.36 yuan respectively. The first rating is highly recommended. Risk warning. Macroeconomic risks, business expansion falling short of expectations, etc.