As its 2007 Annual Report showed, the annual revenue was 2.633 billion yuan, up 26.57 percent yoy; net profit attributable to the parent company: 222 million yuan, an increase of 42.99 percent yoy; diluted EPS: 0.48 yuan; distribution plan: 2 shares granted, 6 shares transferred and 0.23 yuan (before tax) for each 10 shares. Growth of annual revenue and profit was driven by increases of volume and price in the real estate business, revenue of which was 2.363 billion yuan in 2007, accounting for 89.77 percent of the main business’s income. Commercial houses with strong profitability saw an increase of 200,000 square meters in carry-over area, and upgraded the overall profitability. According to the progress of the company's current project development and clearing, we estimate that the EPS will be 0.78 yuan in 2008 and 1.15 yuan in 2009. "Overweight" rating is reiterated.