Profit forecasts and investment recommendations Since the company resumed trading at the end of October 2016, there has been a cumulative decline of 36%. Regardless of market factors, the decline in the company's stock price is mainly due to the market's negative feelings about the antibiotic industry and distribution plans. However, we believe that after falling, the company's stock price has now been basically adjusted. From a profit perspective, Whitdison promised a net profit of no less than 160 million yuan in 2017, and Zhuhai Xile promised a net profit of 67.6 million yuan. Listed companies are expected to narrow their losses on technology platforms significantly through equity and business sorting, and the elimination of financial costs associated with investment, mergers and acquisitions. Coupled with the natural growth in the original business and the initial release of artificial corneas, we expect the performance level of listed companies to be between 28-30 million yuan in 2017. The company's previous high valuation situation will be effectively addressed in the future. At the same time, the company announced the second phase of its employee stock ownership plan, which also injected confidence into the market. Without considering the influence of Whitdison yet, we expect that in 2017-2018, the net profit of listed companies will be 136 million yuan and 165 million yuan respectively (Zhuhai Xile will start the full year), the corresponding EPS will be 0.50 yuan and 0.61 yuan respectively, and the dynamic PE corresponding to the current stock price will be 61 times and 51 times, respectively. Continue to give the company a “Highly Recommended” rating.