Collaborative development of the four major businesses Currently, the company's business mainly has 4 major sectors: 1) Home appliances and consumer electronics. The future focus is mainly on FPC and Type-C. For the type-c field, we are currently teaming up with Intel to jointly explore the 100 billion consumer electronics market. 2) Automotive electronics, mainly automotive wiring harnesses, sensors, automotive control modules, alarm modules, future car lights, etc. 3) The new energy power management system is a top priority and is in a leading position in the world. 4) The Internet of Vehicles and autonomous driving have a very strong accumulation in Europe. Growth over the next three years will be sustainable. Leading automotive electronics companies acquired Meta in 2015, pioneered charging and electrical management for new energy vehicles, cooperated with Pacific Insurance in terms of the Internet of Vehicles, and also cooperated with Mobileye, Tsinghua, and Huawei in 2016. The NEV power management system achieved great success in 2017. From 2017 to 2019, we received orders from the local and European markets; in 2017, we received orders for electric vehicles under Dongfeng's own brand; in 2018, we received orders from PSA global projects, including Europe; and in 2019, we received orders from PSA Dongfeng, Volkswagen, and Porsche. In addition, Kshiderun has begun to release high-end wiring harnesses. In 2017-2018, Beijing Mercedes-Benz continued projects were launched, and FAW-Volkswagen projects were put into production. At present, a large number of orders have been received and will continue to increase. This has fully demonstrated the company's technical strength. The catalyst will continue for the next three years, and high performance growth can be expected. The performance of 2017Q1 was impressive, and the 2017H1 performance forecast was reversed. The full-year inflection point was established. The 2017 Q1 achieved operating income of 1,169 billion yuan, an increase of 30.97% over the previous year; realized net profit attributable to the parent company of 319.803 billion yuan, an increase of 46.85% over the previous year, and established a performance inflection point. The main reason for the company's 2017 Q1 performance growth is steady growth in home appliances and consumer electronics, and good progress has been made in expanding the automotive business. The company released the 2017 H1 performance forecast. It is expected to achieve a change in net profit range of 905.886 million yuan to 106.576 million yuan for shareholders of listed companies, an increase of 70%-100% over the previous year, and the annual results are predictable. We are optimistic about Type-C and automotive electronics. At the inflection point of the company's performance this year, we are optimistic about future Type-C industry trends and the company's competitiveness under this industry trend. Household appliances and consumer electronics connectors have developed steadily in the short term, and Type-C, automotive electronics, and Meta will continue to support the company's performance growth over the next year. Assuming that Type-C continued to be released in 17-19 while automotive electronics continued to grow, we expect EPS in 17-19 to be 0.54, 0.99, and 1.57 yuan, giving 54-58x PE in '17, a reasonable price range of 29.16-31.32 yuan, maintaining a “buy” rating. Risk warning: The risk of integration and continued operation of the acquisition of an automotive electronics company; the risk of developing and marketing technologies such as Type-C falls short of expectations.