Incident: On October 23, the company released the “2016 Third Quarter Report”. The announcement stated that operating income, net profit attributable to shareholders of listed companies, and net profit attributable to shareholders of listed companies after deducting non-recurring profit and loss were 970 million, 0.8 billion yuan, and 0.7 billion yuan respectively, up 141.39%, 176.2%, and 261.07% year-on-year. Among them, the third quarter had year-on-year increases of 91.8%, 41.88% and 53.35%, respectively. Furthermore, net profit attributable to shareholders of listed companies for the whole year is estimated at 111-125 million yuan, an increase of 254.13%-302.42% over the previous year. Comment: Power plant development and component production expansion contributed to high performance growth throughout the year. The company continued to promote the development and construction of photovoltaic power plant projects in the first half of the year, and completed the construction and grid connection of the 20MW photovoltaic power generation project in Tuogi, Qinghai, Japan, and the Republic of China. As of the end of June 2016, the photovoltaic power plant projects that the company has been connected to the grid for inspection include Kashi Ruicheng Phase I 20MW, Dingbian Phase I 50MW, Yuepuhu Phase I 20MW, Dingbian Phase II 110MW, and Qinghai Tuori 20MW. Power plant revenue was gradually released in the first half of the year. As the country continues to introduce measures to improve power restrictions in the second half of the year, the company's power plant revenue will further increase. From January to September, operating income increased by 141.39% and net profit increased by 176.2%. At the same time, Shaanxi Tuori plans to gradually achieve 1 GW of module production capacity and 2 GW of photovoltaic glass production capacity by the end of the year, taking advantage of its own equipment. Among them, module and glass sales increased dramatically in the first half of the year, becoming one of the company's strong profit sources. Revenue from crystalline silicon cells and modules increased by 429.46%. High revenue growth is guaranteed throughout 2016. Another 630 will set off a new wave of rush, which will help improve the company's performance. With the announcement of the National Development and Reform Commission's draft solicitation for comments on the reduction of electricity prices for new energy sources and the imminent release of the official draft, it is expected that the rush to install power plants will accelerate further before June 30, 2017, which will contribute to a significant increase in the company's performance. At the same time, the company is expanding the layout of overseas markets. Profit forecast. In the context of the continuous release of supporting policies for the photovoltaic industry and technological progress, the scale of the company's power plants continues to expand, the business structure is further optimized, and performance has entered a continuous growth channel. The forecast is that the company's 2016-2018 EPS will be 0.19, 0.32, and 0.41, respectively, giving it a “buy” rating.