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　　 Changjiang Securities

The company released the performance forecast for the first three quarters of 2012, and the net profit attributable to shareholders of the listed company is expected to increase by 30% - 35% over the same period last year, about 81.7436 million yuan – 84.8876 million yuan. There is no danger of growth throughout the year. According to the data released by the China Daily News, the net profit attributable to shareholders of listed companies in the third quarter can be withdrawn from about 38.6136 million to 41.7576 million, compared with 32.6597 million in the third quarter of last year, which means that the performance in the third quarter of this year has a year-on-year growth of 18% - 28%. Although the growth rate is relatively lower than that in the first half of the year, it still shows that the operating conditions in the third quarter are relatively stable, and the year will see a deterministic growth. The growth of profits comes from the expansion of main business. The contribution amount of non recurring profit and loss to net profit in the first three quarters of 2012 is expected to be 5.9415 million yuan, increasing to a certain extent year-on-year. The company has significant advantages in TV series production. It has already had successful experience in many high ratings dramas. At the same time, the company is expanding its advantages by setting up new production centers; The film business is beginning to show results and is expected to embark on a healthy development path, bringing new impetus to the company's performance growth. It is estimated that the company's EPS in 2012, 2013 and 2014 will be 2.08 yuan, 2.87 yuan and 3.68 yuan respectively, and the current share price corresponding to PE in 2012, 2013 and 2014 will be 23 times, 17 times and 13 times respectively, maintaining the rating of "prudent recommendation".