Summarizing last year's results, CITI Holdings announced last year's results. In 2015, operating income recorded RMB 7.98 billion, a sharp increase of 61.8% over the previous year; profit of RMB 3.61 billion, a year-on-year increase of 83.5%; and profit per share of RMB 1.21. The reason for the rapid growth in performance was mainly due to the increase in real estate sales, the increase in BOT business contracting and engineering design business volume, and the huge investment returns brought by the sale of Western Securities and Everbright Bank shares. In the future, the company is determined to divest the environmental protection business and transform into a comprehensive asset management group with urban infrastructure and related fields as the main investment direction, and PPP funds as the main field, while seeking investment opportunities in the industrial chain through PE funds. The total market value of listed companies currently owned by the Group is RMB 17.53 billion, while its private equity “Chengding Fund” has set up the fourth phase of the fund, adding 17 new investment projects, with a total investment of RMB 2.6 billion. We expect that the company will continue to benefit from state-owned enterprise reform and PPP concepts, and that the merger and separation plan will also steadily advance favorable overall development. The above factors are expected to become catalysts for stock prices in the short term. Technical trends and investment strategies The stock price hit RMB 12.40 yuan twice in January and February, and the trend has continued to improve since then. After three months of consolidation, it formed a favorable collection pattern in an ascending triangle. Last week, it also broke through the top resistance level of RMB 15.80. It is recommended to buy at 15.88 yuan. The target price is set at the RMB 18.00 mark, and if it falls below RMB 14.76, the loss should stop immediately. Last week's recommendation review, the stock price of China Nuclear Power (601985.CH), which was introduced last week, fell in a narrow range and fell, and did not reach our recommended purchase price of RMB 7-7.3. Since the fundamentals of the stock have not changed, we have maintained the proposed purchase price and target price from last week.