The report explains that the company released its report for the third quarter of 2016. The steel structure business was generally improving: Nisshang Group released its 2016 third quarter report on the evening of October 29. During the reporting period, the company achieved operating income of 352 million yuan, up 19.26% year on year; realized net profit attributable to shareholders of listed companies was 22.9846 million yuan, up 244.42% year on year; the company received the “Belt and Road” policy dividends, and the overseas steel structure business improved overall. The incident commented that overseas orders continued. During the reporting period, the company's holding subsidiary Xin Changcheng received a structural purchase order of 568.45 million US dollars on November 18, 2015. By the end of the reporting period in the third quarter, it had completed nearly 25,000 tons, with a total export customs declaration of more than 19,000 tons; the company has sufficient future orders and has already accepted purchase orders from the Liwa Plastics Industrial Complex in Oman, with a total amount of US$34,3636 million, which will increase the company's profits in 2017. With the support of policies such as the Cross-Strait Three Link and Belt and Road Initiative, the construction scale and investment level of the West Coast Economic Zone led by Fujian Province continues to increase, and the external economic environment is improving, the company has further consolidated and expanded good cooperative relationships with international contractors such as Fluor of the United States, France's Dechnib, Japan's JGC, Japan's Chiyoda, Italy's Technemont, Taiwan's Zhongding, Sinopec SEG, and CNPC. The total number of contracts for overseas steel structure projects has reached US$104 million. Currently, the total number of contracts for overseas steel structure projects has not been transferred. Orders over 400 million yuan, 2016 The annual production of equipment steel structures is expected to exceed 50,000 tons. Considering the characteristics of countercyclical investment in overseas petrochemical projects, it is foreseeable that in the future, driven by policies such as the “Belt and Road”, the company will grow greatly in the field of steel structures for overseas equipment. Smart steel ring software and hardware products are about to be replaced. The automotive aftermarket refers to Zhongyuan Company starting to lay out Internet+ automotive aftermarket projects in July 2015. Currently, all projects are progressing steadily. On the one hand, the company's high-quality strategic projects in the automotive aftermarket and emerging IoT industries are based on smart wheels to provide customers with value-added services to increase product market share and help customers open source and save money; on the other hand, through the construction of an O2O platform for auto parts, revitalize inventory, reduce channel levels, and effectively reduce user costs. Furthermore, the company strives to solve the collection needs of the first 50 kilometers and the last 50 kilometers of delivery. At present, the company has completed smart steel ring software and hardware products and has begun to be applied, and has achieved a good reputation among commercial vehicle drivers. In the Sichuan and Xiamen regions, the company's smart steel ring products have been thoroughly deployed; in the future, with the upgrading of smart steel ring software and hardware products, users will get a better product user experience and faster additional services, and the company will gradually enter other provinces through this. Profit forecasting and valuation The company's traditional steel structure and steel ring business is developing steadily overseas. Considering the high growth of the equipment steel structure business and the continued expansion of the steel ring business with the support of policies such as the Belt and Road Initiative and the cross-strait three-way link, the company's hierarchical promotion of automotive aftermarket and the integration of lightweight steel rings for new energy vehicles and the industrialization of green buildings is expected to form a new profit growth point in the future. We expect the company's EPS to be 0.12, 0.17, and 0.25 yuan/share in 2016-2018, maintaining the buying rating.