As its 2007 Annual Report showed, turnover was 2.805 billion yuan, up 37.8 percent yoy; operating profit: 146 million yuan, up 35.3 percent yoy; net profit attributable to the parent company: 109 million yuan, up 52.3 percent yoy; EPS: 0.69 yuan, lower than our previous forecast of 0.71 yuan; distribution plan: 0.30 yuan cash dividends for each 10 shares. The company's growth was mainly brought by Beijing Road Shop and Xinyicheng Shop. In 07, profit of Xinyicheng Shop was 16.74 million yuan, an increase of 1,254 percent yoy. In addition, the company held 25 percent holdings of Jiaguang Supermarket which gained 17.57 million yuan in profit and brought investment income of 4.4 million for the company. We believe that performance of the company in 08 will mainly benefit from its organic growth. Taking into account that Beijing Road Shop is relatively mature, we expect 08-09 EPS will be 0.87 yuan and 1.07 yuan respectively and "neutral" rating is reiterated.