In 07, the company achieved revenue at 9.186 billion yuan, an increase of 23.26% yoy; net profit: 606 million yuan, an increase of 44.88% yoy; earnings per share: 0.711 yuan. Distribution plan: 2 shares converted and 1 yuan (before tax) cash dividends for each 10 shares. The company's main business includes: escalators, printing and packaging machinery, hydraulic pneumatic products, man-made fibre board, engineering machinery and welding equipments. Sales income of escalators was 6.126 billion yuan and accounted for 67% of the total. In 07, total sales of the industry were 0. 18 million units, up 20% yoy, the company’s sales accumulated over 27,000 units, an increase of 26% yoy. The domestic market share remained at more than 15% and exported complete elevators were over 1000 units with the sales income growing by 46% yoy. We expect industry-wide sales in 08 will total 0.19 million units, representing a slight growth over 07. The company’s sales will maintain a growth rate of 15%. Printing and packaging machinery of the company ranked first with domestic market share of 37%. Exported volume accounted for 73% of total exports in the industry. In 07, the company’s MDF saw sales of 540,000 cubic meters with the sales revenue of 829 million yuan; net profit: 46.2 million yuan; gross margin: 18.63%. It is expected in 08 that Chinese MDF market capacity will reach 26 million cubic meters. EPS is expected to be 0.89 yuan in 08 and 1.16 yuan in 09 and "overweight" rating is unchanged