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For the period of January-June 2008, the company achieved operating income of Rmb340mn, an increase of 9.17% yoy; operating profit: Rmb39.57mn, rising 11.02% yoy; net profit to the parent company: Rmb37.49mn, up 1.73% yoy; EPS: RMB0.14. 2008-2010 EPS for the company is expected to be Rmb0.29, Rmb0.39 and Rmb0.50 respectively with the corresponding 2008 PER at 40x which is higher than the current 30xPER of the media industry and 37xPER of the cable TV network industry. Taking into account the completion of high capital expenditure and its 10xEV/EBITDA as well as its gained sound investment value, we are optimistic about the development potential of the value-added business such as high-definition and interactive television. The company is rated as OVERWEIGHT.