The incident company published its 2013 report and 2014 quarterly report. In 2013, it achieved operating income of 486.42 million yuan, a decrease of 7.49%; net profit attributable to shareholders of listed companies was 74.6 million yuan, an increase of 5.83%. In the first quarter of 2014, operating income was 18.12 million yuan, an increase of 51.98% over the previous year; net profit attributable to shareholders of listed companies was 61.73 million yuan, an increase of 212.92%. The 2013 profit distribution plan is to pay 0.15 yuan (tax included) for every 10 shares. Brief review The increase in the first quarter came from self-employment and asset management in the first quarter of 2014. The company received investment income and fair value change income of RMB 63.59 million and RMB 19.03 million respectively, compared with RMB 38.2 million and RMB 11.18 million respectively in the same period in 2013. In addition to this, the company achieved net income from asset management business of 12.88 million yuan in the first quarter, compared to 1.23 million yuan in the same period last year. Innovative business potential can be expected. In 2012, the company's qualified asset management business began to contribute revenue. However, since 2013, the company has also successively obtained a number of innovative business qualifications, such as stock pledge repurchases, agreed repurchase securities transactions, consignment sales of financial products, securities financing, and public offerings. At the end of 2013, the capital raised from agreed repurchase securities transactions had reached 185 million yuan, and stock pledge repurchase financing had reached 371 million yuan; in March 2014, the securities financing business also officially began operation. The company's various innovative businesses have been fully rolled out, and the potential is promising. According to CITIC Construction Investment, in mid-January, we were the first in the market to publish an in-depth report recommending the Pacific. The company's stock price rose as high as 40%! However, in early March, we were keenly aware that the market's expectations for Internet giants to participate in fixed corporate growth were too high, so we resolutely warned of risks on March 7. In April, the company completed a fixed increase and raised 3.75 billion yuan in capital. After the fixed increase is completed, the company will change from a company that does not operate normally to a brokerage firm with a good mechanism, complete business licenses, and strong financial strength. All kinds of business development will enter the fast track! Maintain your “buy” rating, and once again, focus on recommending!