The Broad Greenstate (Group)’s total income increased from RMB530.1 million in the same period of 2014 to RMB622.7 million for the year ended 31 December 2015, representing an increase of 17.5%. 28 projects in total contributed to the income, 9 of which had an initial contract value of RMB5 million or above, contributing 96% of income for the Group. Net profit was RMB150.5 million, representing an increase of 37.6% as compared to RMB109.3 million in the same period of 2014.

For the year ended 31 December 2015, the Group’s gross profit was RMB228.2 million as compared to RMB189.9 million in the comparable period in 2014, representing an increase of 20.2%. Our gross profit margin increased by 0.9% from 35.8% for the year ended 31 December 2014 to 36.7% for the comparable period in 2015, which was mainly due to the slight increase in income contributed from larger projects which have higher gross profit margin as the projects are more complex and require more integrated management.

Looking ahead, the management believes that PPP projects model will dominate the market. The Group will continue to focus on the development of landscaping projects at the municipal and city level by taking advantage of our existing business foundation and competitive advantages. To this end, the Group will continue strengthening the integration of the upstream and downstream companies in related fields, in order to consolidate its current leading industry position as a one-stop service provider.