Financial Performance - In 2015, the company achieved a net profit of 196 million yuan, a decrease of 30.60% compared to the previous year, primarily due to the absence of non-recurring gains from the divestment of the kaolin business in 2014, which contributed 183 million yuan [2] - The company's net profit after deducting non-recurring items increased by 32.15% compared to the previous year [2] - The annual operating revenue in 2015 decreased by 266 million yuan compared to 2014, mainly due to the divestment of the kaolin business, which contributed 326 million yuan in revenue in 2014 [1] Business Development - In 2015, the company expanded into the financial and entertainment sectors through acquisitions, with the commercial payment business already included in the consolidated financial statements [2] - The financial sector includes entities such as Yuexiu Haiyin Microfinance Company and Hunan Hongtaiyang, while the entertainment sector includes Tianjin Fantasy Entertainment [2] Project Updates - The Shanghai Haiyin projects, including Haiyin · Another City and Haiyin · Zhoupu Riverside New World, are progressing, with the former having held a groundbreaking ceremony in September 2015 and obtaining construction permits [2] - The International Exhibition Trade City project has completed construction of over 100,000 square meters of buildings and is currently in the leasing phase [2] Acquisition Plans - The termination of the acquisition of Shanghai Defeng was due to significant disagreements on shareholding ratios, with no immediate plans for further acquisitions, although the company will continue to seek partnerships aligned with its strategic direction [2]