Core view: The Provincial State-owned Assets Administration Commission successfully passed the company announcement and received a written notice from the Hefei Municipal State-owned Assets Administration Commission. The share transfer agreement on the transfer of the shares of the former majority shareholders' shares to Hefei Xingtai Financial Holdings (Group) Company has been signed, the Hefei Municipal State-owned Assets Administration Commission has approved it, and the next step will be submitted to the higher level of the State-owned Assets Administration Commission for review and approval. This marks the most important step in the equity transfer process for the majority shareholders of Hefei Urban Construction. The approval by the municipal State-owned Assets Administration Commission has been successfully completed. As preliminary preparations and necessary materials have been completed, it is expected that the approval process and pace will be accelerated. Local financial control platforms have broad future prospects. Under the top-level design framework structure of the state-owned enterprise reform in Hefei, Xingtai Group, a financial holding platform, will become the largest shareholder of Hefei Urban Construction through a free transfer of shares. The total profit for 2014 exceeded 800 million yuan, and the net profit scale exceeded 400 million yuan. Under the state-owned enterprise reform guidance plan, the scale of assets is expected to expand further in the future. The review of the plan requires approval from the State Council and the Securities Regulatory Commission. After the transfer is completed, Hefei Urban Construction will become Xingtai's only listed company, with strong expectations for asset consolidation. The real estate business guarantees investment safety margins. The balanced layout of second- and third-tier cities in Anhui Province ensures that the company maintains a stable sales and performance growth rate in the current competitive environment of the industry. After acquiring a new project in Feidong in the first half of '15, up to now the company has a total project scale of 4.04 million square meters and a total unsettled area of 2.52 million square meters. The company's EPS is expected to be 0.61 and 0.70 yuan respectively in 2015 and 2016, maintaining a “buy” rating. This announcement regarding the company's shareholders' equity transfer approved by the Municipal State-owned Assets Administration Commission is of great significance to the current investment of the company, indicating that the overall equity transfer work is still progressing smoothly. The company's current value is based on real estate resources, and Xingtai Group's financial assets give the company plenty of room to imagine market value. The risk suggests that there is uncertainty about Xingtai's equity transfer, and the resource injection price is determined based on the asset evaluation situation.