In the first three quarters of 2013, the company achieved operating income of 422 million yuan, a year-on-year decrease of 28.5%; operating profit of 1.1061 million yuan, a year-on-year decrease of 73.81%; net profit attributable to owners of the parent company was 2,4084 million yuan, a year-on-year decrease of 38.58%; and basic earnings per share of 0.0200 yuan. The decline in revenue has narrowed. The company is mainly engaged in the production and sale of worsted woolen woolen woolen cloth. It currently has a wool-spinning, weaving, and dyeing production line with an annual output of 8 million meters of worsted wool. During the reporting period, the company's revenue growth continued to decline, falling short of market expectations due to adverse factors such as the macroeconomic downturn and the slow recovery of domestic and foreign markets. However, since 2013, through measures such as optimizing the product structure and developing emerging markets, the company's year-on-year decline in revenue has narrowed quarterly. The single-quarter revenue growth from the first quarter to the third quarter was -38%, -30%, and -16%, respectively. It is expected that with the arrival of the traditional peak sales season in the second half of the year, sales revenue is expected to rise somewhat. There was a marked increase in gross margin, and period expenses reduced performance. During the reporting period, by optimizing the product structure and expanding the share of technical, functional, and personalized high value-added products, the company's overall gross margin increased sharply by 5.29 percentage points to 19.38% over the same period last year. However, due to the continued appreciation of the RMB and the large exchange gains and losses caused the financial expenses to rise 10.37% year on year, causing the financial expenses ratio to rise by 3.63 percentage points to 10.3% year on year. In addition, the sales expenses rate and management expenses rate fell by about 1 percentage point year on year respectively, so the period fee rate increased by 5.29 percentage points to 18.35%, thus reducing the company's overall performance. Technological innovation is the company's core competitiveness. The company is currently a leading technology enterprise in the domestic woolen industry. The new technology “Ruyi Textile” successfully developed by the company won the first prize of the National Science and Technology Progress Award and is one of the leading international technologies. The company will continue to take technological innovation as the core, increase technological industrialization efforts, continuously broaden the product chain, effectively promote product upgrades, and further enhance the market competitiveness of the company's high-end worsted woolen products. Trading has continued to be suspended since August 19, 2013 due to planning major asset restructuring matters, and deserves continued attention. Profit forecast: The company's EPS for 2013-2015 is expected to be 0.06 yuan, 0.14 yuan, and 0.21 yuan respectively. Based on the closing price of 7.65 yuan per share before closing, the corresponding dynamic price-earnings ratios are 122 times, 55 times, and 37 times, respectively, maintaining the company's investment rating as “neutral.” Risk warning: raw material prices are rising; downstream textile demand growth is weak; financial pressure is high.