Targeted additional issuance provides an opportunity for the company's continued development in the future. The company plans to issue 313.33 million tradable A shares to the controlling shareholder Chongqing Urban Construction Investment Company to acquire its assets at the Chongqing International Convention and Exhibition Center and the land use rights area of 365,691 square meters located in Paifang Village, South Office of Hechuan City. Through this acquisition, Chongqing Development has increased its asset scale, has stable cash flow, has reserved development land, reduced the balance ratio to facilitate the use of financial leverage, and solved the bottlenecks in development in one fell swoop. At the same time, the shareholding ratio of controlling shareholders reached 82.75% after this increase, which is conducive to expanding the space for Chongqing Development to continue to implement targeted increases in the future. The controlling shareholder provides imagination for the company's future development. The main function of the holding company is to raise capital for urban construction through multiple channels, manage state-owned assets for urban infrastructure, and participate in urban construction-related operations. The main business of Chongqing Development's future development is real estate development, land management, and real estate development. The unique background of the controlling shareholders provides some room for imagination for the future development of the company's three major businesses. Future performance forecasts and ratings If this acquisition is successfully completed, we expect Chongqing Development's performance for this year and next two years to be RMB 38.95 million and RMB 166.19 million, respectively, with diluted earnings per share of RMB 0.08 and RMB 0.34, respectively; if this acquisition is not implemented, earnings per share will be RMB 0.10 and RMB 0.50 per share. The rate of capital expansion is greater than the increase in net profit, and the earnings from the acquisition cannot yet be reflected in recent earnings. This has led to a decline in the company's earnings per share in the next two to three years after the acquisition. Considering the company's future development space and current stock price trends, we give it a “hold” rating.