EPS for the first half of the year was 0.15 yuan, in line with expectations. The company achieved revenue of 770 million yuan in the first half of the year, an increase of 34% over the previous year; net profit attributable to the parent company was 53 million yuan, an increase of 50% over the previous year. Among them, the second quarter achieved revenue of 375 million yuan, a year-on-year increase of 28%, and net profit of 26 million yuan, an increase of 28% year-on-year. Affected by the decline in the prosperity of the downstream black power industry, revenue and profit growth both slowed in the single quarter. As the inventory of downstream black power companies digested, orders for new models increased in the second half of the year. In the first half of the year, the revenue of black power exterior components was 526 million yuan, an increase of 9.24% over the previous year, and the gross profit margin was 19.98%, a slight increase of 0.25 percentage points over the previous year. Revenue growth fell short of expectations. Mainly due to changes in the competitive pattern of the black power industry in the first half of the year, demand fell short of expectations, the inventory of machine manufacturers increased, and demand for new products declined. Since June, as downstream companies' upfront inventories have been digested, company orders have picked up. It is estimated that the annual black electricity revenue will be close to 3 billion dollars, an increase of 30% over the previous year. The explosive growth in Baidian revenue exceeded expectations, and the share of revenue for the whole year will be close to 20%. The white power sector's revenue contribution in the first half of the year reached 110 million yuan, an increase of 337% over the previous year, and the gross profit margin was 19.3%, up 7.8 percentage points from the previous year. Baidian's higher than expected growth was mainly due to a sharp increase in orders in the air conditioning sector (revenue of 89 million yuan, up 379% year on year). The white power field is a new field that the company has focused on expanding since this year. With the volume of new customer orders, it is estimated that the annual revenue will be close to 400 million, and the share of revenue will reach 20%. The mold self-supply ratio will increase to more than 20%, which will help increase the company's gross margin. In the first half of the year, the company's mold production capacity had reached 2 million sets per month, and the self-supply rate reached 20%. It is expected that with the completion of mold fund-raising projects, the annual self-supply ratio will reach more than 30%, contributing about 0.5 percentage points to profit margins. The earnings per share forecast for the company for 2010-2012 was maintained at $0.45, $0.59, and $0.75. Maintain an increase in holdings rating. It is recommended to focus on new regional customer orders brought about by the company's release of new production capacity in Hefei and Kunshan in the second half of the year.