Matters: In September, Dongan Power sold 31,000 engines (+189% YoY, +103% YoY), and participating company Dongan Mitsubishi sold 40,000 engines (+39% YoY, +103% YoY). Comment: The sales volume of Dongan Power and Dongan Mitsubishi in September both hit new monthly highs this year, exceeding market expectations. Dongan Power sold 31,000 engines in September, up 189% year on year and 103% month on month. Monthly sales volume reached a new high; sales volume reached a new high of 73,000 engines in the third quarter, up 191% year on year, down 9% month over year due to seasonal factors. Dongan Mitsubishi sold 40,000 engines in September, up 39% year on year and 103% month on month, hitting a new monthly high since this year; it sold a total of 90,000 engines in the third quarter, up 47% year on year, and down 30% month on month due to seasonal factors. Benefiting from the peak sales season, sales volume is expected to rise to the next level in October. The sales growth rate of Changan Automobile, the company's main downstream customer, continued to pick up. In September, CS75, CS35, CX70, and Auchan sold 25,000 units (+50% year-on-year), 18,000 units (+24%), 10,000 units, 10,000 units, and 10,000 units respectively. It is expected that, benefiting from the peak sales season and the expansion of production of the popular CX70 and Auchan models, Dongan Power and Dongan Mitsubishi engine sales volume is expected to rise to the next level in October. The 6AT transmission is expected to be mass-produced in the first half of next year, helping to increase the valuation. The Dongan Mitsubishi 6AT transmission project was established in 2011, and mass production is expected to be achieved by the first half of 2017. It is estimated that early supporting customers include independent brands such as Haima and Zotye. Mass production of 6AT transmissions will further strengthen the market position of the company's core powertrain suppliers and help improve valuations. At the same time, the M12T supercharged engine, a key project of the company headquarters, has completed prototype development and performance calibration, and vehicle matching work is currently being carried out. It is expected that the models distributed will be launched in the second half of 2017. The company has the greatest potential to become a powertrain platform for Changan Group. Referring to the vehicle and parts capital structures of SAIC Motor Group and Huayu Automobile; BAIC Motor Co., Ltd., and Bohai Piston, Changan Group is also expected to build its parts platform. The company has the greatest potential to become an integrated platform: 1) Changan Group directly holds 55% of Dongan Power's shares, with a large shareholding ratio; 2) Dongan Power's operating conditions are improving, and its performance has drastically reversed. From the end of 2015 to the beginning of 2016, the company completed core management changes, and all key positions such as chairman and general manager were changed to Dongan Dynamics personnel (previously employees of Changan Group), injecting new impetus into the company's development. Risk factors: Sales volume of supporting models falls short of expectations; promotion of new products such as pressurized engines and 6AT falls short of expectations; progress in group asset integration falls short of expectations, etc.