In the first quarter of 2001, the company achieved operating income of 107 million yuan, a year-on-year increase of 22.95%; operating profit of 24.0236 million yuan, a year-on-year decrease of 3.83%; net profit attributable to the parent company was 21.9202 million yuan, an increase of 0.84% over the previous year; and achieved basic earnings of 0.03 yuan per share. Real estate business revenue increased and gross profit declined: The company is a real estate A-share listed company in Chongqing. It mainly deals in real estate grade 1 and 2 development, housing sales and leasing, site leasing, tunnel management, etc. In 2010, the real estate projects settled by the company should mainly be proxy construction projects and Happy New Year projects. Settlement projects increased compared to the same period last year, which led to an increase in operating income, but due to a decrease in the gross margin of the project, the overall operating margin decreased compared to the same period last year. The company's advance sales proceeds for real estate projects were 326 million yuan, an increase of 13.94% over the end of 2009, providing the company with a certain income guarantee. At the end of the reporting period, the company's commercial and residential project reserves included the Banan Jinzhu Industrial Park project, the Nan'an District Huangjueya Project, and the first Chongqing Development Project, all of which were obtained through land auctions in 2009. The company currently has a reserve area of about 1 million square meters. Construction is expected to start after May 2010. There are currently no commercial real estate projects under construction, and there is a business gap for the time being, but there are good prospects for further business reversal. Exhibition and tunnel operating revenues contribute to stable cash flow. The company's toll business, including the operation of the Shihuang Tunnel and the operation of the Convention and Exhibition Center, can provide relatively stable cash flow, but growth is insufficient. This is also one of the reasons why the company's revenue growth is slow. The majority shareholders' overall listing expectations have further strengthened. According to the “Guiding Opinions on Further Promoting the Overall Listing of Key Municipal State-owned Enterprises” issued by the Chongqing Municipal Government, the consolidation and overall listing of Chongqing's state-owned assets is foreseeable. The majority shareholder of Chongqing Development is Chongqing Urban Construction Investment Group. It is one of the eight major state-owned investment groups in Chongqing. It is a state-owned investment group with the second largest land reserves in Chongqing. It currently reserves more than 100,000 mu of land, mainly distributed within 1,000 square kilometers of the main city, and currently has 8,000 mu of land expropriated and cleared. As the only listed company under CITIC, Chongqing Development has obvious strategic significance in the rapid development of CITIC. Considering that some of the majority shareholders' businesses are highly correlated with the business developed in Chongqing, and that the majority shareholders have huge capital requirements in their development plans, and the majority shareholders have clearly stated that they want most of the capital to be obtained through capital market financing, the motivation of the majority shareholders to expand and strengthen the listed company is quite clear. The current ban on shares held by CITIC has been lifted, increasing the possibility of further optimizing the shareholding structure. These factors have further strengthened the expectations of major shareholders to operate capital.