Incident: Dragged down by the collapse of smart agriculture (000816) under the control of the same majority shareholder, the company plummeted on May 3. We judge that the fundamentals of the company have not changed, and we are optimistic about logic. Main opinion: 1. Yesterday's sharp decline was not due to changes in fundamentals, but was mistaken. On the one hand, smart agriculture under the control of the majority shareholders fell to a standstill on the 3rd, mainly due to the forced liquidation of positions by affected institutions. The market is under tremendous pressure due to fear of problems with the majority shareholders, but in fact, the fundamentals of the company have not changed; on the other hand, the ban on restricted shares of the 14-year restructuring was lifted, and the market is concerned that the majority shareholders have drastically reduced their holdings, but on the evening of the 3rd, the majority shareholders have already issued a promise not to reduce their holdings for half a year. The company's fundamentals have not changed; it is still in the process of rapid expansion. Prices have fallen to a new low in the past two years, and the buying opportunity is here! 2. The fixed increase is progressing in an orderly manner. Poly will become the second largest shareholder. The company has readjusted the fixed increase plan in accordance with the new regulations. The fixed increase amount is 1.07 billion dollars, market price issuance, and all capital raised is invested in the military sector. It is expected that it will not be restricted from refinancing real estate companies (especially housing development). It is expected that it will not be restricted from refinancing for real estate companies (especially housing development). The Securities Regulatory Commission accepted it yesterday. After the fixed increase is completed, it is expected that Poly will become the second largest shareholder, deeply tied to the interests of partners. 3. The strategic direction of real estate+military industry determines that real estate feeds back the military industry: the military industry had sales of 22.6 billion dollars last year, accounting for 80% of equity, this year's target of 30 billion dollars, and the goal for 2018. Currently, the company's handgoods value exceeds 90 billion dollars, and the layout of cities is overwhelmingly in the first and second tier; military industry has grown and strengthened: striving to form a revenue pattern between the military industry and real estate business in the future, the ratio is 1:3. Currently, military vehicles (with a production capacity of 2 billion dollars after fund-raising) and exoskeleton robots (expected to launch the civilian version by the end of 17) have made substantial progress. The in-depth cooperation between profit and welfare has also brought huge benefits to the company's military industry sector Imagination Space (2 billion Poly Defense Fund, expected to continue implementing other collaborations). 4. In addition to a fixed increase in the cost reduction costs of various channel financing, the company is currently also applying for a winning vote and a permanent winning vote. Currently, progress is going smoothly. According to current market interest rate trends and company qualifications, it is expected that additional financing will continue to reduce the company's financing costs.