The main source of the company's performance is the rental income of Royal Palace Plaza. Since 2015, the revenue of Royal Palace Plaza, which has been in operation for more than a year, has shown a steady increase. Driven by the main stores and sub-main stores, the passenger traffic at Royal Palace Plaza is increasing, and the operating performance is growing steadily. The business philosophy of Royal Palace Plaza is to highlight cultural creativity. The event design is unique, which has a certain positive impact on cultivating consumers' consumption habits. It has accumulated a stable customer base during operation, and has formed a relatively distinct store style. In the first half of 2015, the rental revenue of Royal Palace Plaza was 853.413 million yuan, accounting for more than 50% of the total current revenue. The rental income of Royal Palace Plaza has become an important part of the company's revenue. Meanwhile, after the operation of Palace Plaza entered a stable period, the gross margin increased steadily. In the first half of the year, the gross margin of Royal Palace Plaza was 94.02%, which provided a stable guarantee for the company's performance. The company is seeking strategic transformation in various fields and has invested in the establishment of four new subsidiaries. The future transformation will focus on high-end business travel, real estate management, and value-added financial services. The company expects to achieve diversified services for commercial real estate customers through collaboration and cooperation in various fields of business, bringing new growth points to the company's future performance. The company achieved net profit of 21.3566 million yuan in the first three quarters, and earnings per share for the first three quarters were 0.07 yuan. The revenue of Royal Palace Plaza was stable in 2015, and the increase in the company's performance is a probable event. The company's EPS for 2015-2017 is expected to be 0.13, 0.16, and 0.20 yuan, respectively, for the first time covered and given a “gain” rating. Risk warning: 1) the company's business management risk; 2) the risk of whether the transformation will be successful; 3) the risk that the operating performance of Royal Palace Plaza falls short of expectations.