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From January to December 2010, the company achieved operating income of 256 million yuan, an increase of 39.25%; operating profit of 85.86 million yuan, an increase of 45.89%; net profit attributable to the parent company of 75.98 million yuan, an increase of 44.84%; The stock yield was 0.50 yuan. The company's 2010 distribution plan will be 2 yuan (tax included) for every 10 shares, and 10 shares for every 10 shares. The growth rate of performance is in line with expectations, and high growth is determined. The company's main business of synthetic diamonds achieved operating income of 239 million yuan, an increase of 37.32%, gross margin of 45.73%, a slight increase year-on-year. Although the price of synthetic diamonds has continued to decline in recent years, the company has improved the sales of artificial diamonds in recent years by improving process technology and continuously reducing costs. The gross profit margin has remained at a relatively high level. Technology leadership guarantees high gross margins. The company is the most complete synthetic diamond manufacturer in the industry for technical and R&D capabilities. The company masters the core technology of raw and auxiliary materials. The graphite columns used are all self-produced, and independently developed the largest synthetic equipment in the domestic cylinder diameter, which effectively improved the conversion rate and high grade rate, thus ensuring that the company is higher than the industry average. High gross profit margin level. China's synthetic diamond industry is growing rapidly, and the company welcomes the best development opportunities. With the continuous improvement of synthetic diamond grades, its downstream application fields are expanding, and it can be used for precision machining in emerging fields such as aerospace instrument bearings and optical components. It is expected that the domestic market demand will reach 7 billion carats in 2012, and exports will remain fast. Growth trend, the market demand for the industry will maintain a compound annual growth rate of more than 15% in the next few years. The company ranks among the top three in the industry and has a huge leading edge in the raw materials, synthetic equipment and synthetic processes, and will benefit from the rapid development of the industry and usher in the best development opportunities. Capacity is about to be released, and the performance is experiencing a full-scale outbreak. The company's production capacity in 2009 was only 420 million carats. The two new projects were completed at the end of June and the end of September respectively. By then, the company will increase the production capacity by 640 million carats. The company's operating rate and production and sales rate are maintained above 90%. The substantial expansion of production capacity will enable the company to ushered in a comprehensive outbreak of performance, and the compound growth rate is expected to exceed 40% in the next three years. Earnings forecast and investment rating. We expect the company's 2011-2013 earnings per share to be 0.82 yuan, 1.14 yuan and 1.48 yuan, according to the latest closing price of 40.30 yuan, the corresponding dynamic price-earnings ratio levels are 49 times, 35 times and 27 times. The company's high growth is determined, and its performance growth will be more secure in the next few years. We are optimistic about its long-term development prospects and maintain the investment rating of “overweightâ€. risk warning. The newly added capacity sales volume is lower than the expected risk; the price of synthetic diamond products is down; the uncertainty of the price fluctuation of raw and auxiliary materials.