Highlights of the report describe that Zhongyuan Huadian released a performance report. In 2015, it achieved revenue of 271 million yuan, an increase of 20.37% over the previous year, and net profit attributable to the parent company of 74.1.15 million yuan, an increase of 48.65% over the previous year, and EPS 0.36 yuan. At the same time, the Zhongyuanhui Industrial Investment Company established by the company completed the registration of industrial and commercial changes, with a registered capital of 50 million yuan. Incident review: Traditional business is steady, and the medical sector is bursting out. With the increase in investment in the national distribution network, the company's traditional business has shown rapid growth since the third quarter, achieving a profit of 1992 million in a single quarter. We estimate that the annual profit is around 50 million, maintaining steady growth. In the medical sector, Daqian Biotech has a complete product line and is still in an explosion period. In 2015, we have achieved a profit of 3 million, and we expect the full year to be around 7 million; Exxon Biotech has developed its own products and signed exclusive distribution with DIAGNOSTASTAGO, which is expected to balance profit and loss in 2016; at the same time, Shixuan Technology continues its high growth trend, and is expected to contribute more than 20 million in the fourth quarter alone. Overall, the company's medical sector pattern has now taken shape and will become the core driving force for the company's growth in the future. The dividends of the hierarchical diagnosis and treatment policy are expected to be implemented. In September 2015, the State Council focused on deploying a plan to establish a hierarchical diagnosis and treatment system, and all provinces across the country introduced implementation policies one after another. In 2017, the hierarchical diagnosis and treatment system in each region will basically be completed. We believe that hierarchical diagnosis and treatment will become the next frontier in the Internet medical field, and Shixuan is expected to fully benefit from its high-quality health information platform resources and medical informatization capabilities, and is expected to accelerate growth with a new model. An investment company was established, and the growth trend is clear. The company invested 50 million yuan to establish the Zhongyuanhui Industrial Investment Company, which is expected to use a professional team to expand the company's business areas and investment channels. The company has carried out a series of layouts around the medical industry in recent years, and is progressing smoothly in terms of strategy and implementation. We believe that the company's investment in the company's development prospects are worth looking forward to. Aim high and maintain “buying.” The company has excellent quality and moderate valuation. Since transforming the medical business, it has grown rapidly and has great potential for the future. EPS is expected to be 0.5 or 0.75 yuan in 2016 and 2017, maintaining a “buy” rating. Risks suggest that the expansion of the new model falls short of expectations.