On March 24, Zhejiang Province issued the “Implementation Opinions of the General Office of the Zhejiang Provincial People's Government on Boosting Consumption and Promoting Stable Economic Growth”. Regarding automobile consumption, the “Opinion” proposes to encourage Hangzhou to relax automobile purchase restrictions in an orderly manner, formulate policies to trade in cars and benefit farmers in the countryside, dig deeper into rural automobile consumption potential; give full play to the advantages of Zhejiang Province's large car ownership, expand the circulation of the used car market, liberalize the car modification market according to law, and strive to tap the service potential of the automobile aftermarket; innovate car consumption services, expand online and offline car purchase channels, encourage brand car dealers to provide online car viewing, car delivery and test driving services, etc., and plan and host a number of promotional activities such as the “Zhejiang Lixing Online Car Festival”. Bussan Yuantong, a subsidiary of Zhongda Bussan, is expected to fully benefit as a leading car dealer and post-service provider headquartered in Hangzhou in the country. Bussan Yuantong is an important subsidiary of Bussan Zhongda. It is also one of the top ten car dealers in the country. Net profit increased from 155 million in 2015 to 433 million in 2018. Bussan Yuantong has agency rights for nearly 50 automobile brand series, nearly 200 outlets (including 150 in Zhejiang), and nearly 1.6 million users. It is developing in a balanced manner in the field of vehicle sales and after-sales service, building a service industry chain covering the entire life cycle of automobiles, providing various automobile-related services such as automobile sales, car maintenance, auto parts procurement, car rescue services, used car replacement, and car recycling and dismantling, which is expected to fully benefit from the introduction of policies. The fixed increase project focuses on the traffic entry point - car sales, and further enhances the competitiveness of automobile services. In November 2019, the company completed fixed growth. The fund-raising projects include a new smart automotive retail platform construction project with an investment amount of 1.01 billion dollars. The company plans to build a new automobile retail complex in Qiaosi Street, Yuhang District, Hangzhou, including automobile sales areas, automobile-related industrial zones, automobile maintenance and accessories areas, and other commercial support areas. After the completion of the project, the company will improve the automobile sales model, enhance consumers' car buying experience, consolidate the strategic foundation of the automobile industry chain, further improve the full life cycle service of automobiles, and build a smart new automotive retail platform integrating the automobile distribution industry and the automobile lifestyle service industry. We forecast the company's net profit of 29.05/34.13/4.03 billion yuan and EPS of 0.57/0.67/0.79 yuan in 2019/20/21, corresponding to 8.3/7.1/6.0 times the current price of PE, maintaining the “buy” rating. Risk warning: The epidemic affects demand, large fluctuations in commodity prices, non-fluctuations in asset disposal, etc.