Events: In the first half of 2010, the company achieved operating income of 1,112 billion yuan, an increase of 21.85% over the previous year; realized net profit attributable to listed companies of 28.24 million yuan, an increase of 12.66% over the previous year; and achieved earnings of 0.15 yuan per share. Conclusion: The company's gross margin fell 2.02% year on year due to delays in some projects and intense competition in the industry; therefore, the growth rate of the company's operating income and net profit in the first half of the year was lower than expected; new contracts maintained significant growth, and were mainly BT investment projects with high gross margin, but it will take time for the company to improve its profitability; it is estimated that the company's earnings per share for the period from 2010 to 2012 were 0.37, 0.46, and 0.57 yuan, respectively, giving the company a “neutral” investment rating.