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Event: Baoxin technology released the first quarterly report of 2015. In the first quarter, the company achieved a total operating revenue of 127 million yuan, a year-on-year increase of 58%, a net profit of 15.63 million yuan, a year-on-year increase of 135%, and a net profit of 15.48 million yuan after deduction, a year-on-year increase of 157.6%. The basic earnings per share is 0.06 yuan. At the same time, the H1 performance range of pianhua in 2015 was 30.5475-35.6388 million yuan, with a year-on-year increase of 200-250%.

The performance of subsidiaries broke out, and the annual performance growth rate increased quarter by quarter. The results finally released by the company in the first quarter were higher than the median value of the pianhua range (the deduction value exceeded the upper edge of the range), mainly due to the financial consolidation of Youzhi technology and Shanghai apani acquired last year, the sharp increase in the performance of Youzhi technology, a subsidiary, and the improvement of the traditional business of the parent company (Shanghai apani did not contribute to the performance in the first quarter).

Throughout the year, we believe that benefiting from the sharp increase in the pressure of haze control, the company's Youzhi technology and Shanghai apani business are expected to continue to break out. In particular, apani's high-voltage electrode boiler transformation business meets the needs of local governments to ban coal-fired boilers, and the project orders are overwhelmed. We judge that with the gradual delivery of the first batch of projects of Shanghai apani in 2014 (confirmed as a high probability event in the second quarter), apani will start to contribute performance in the second quarter. The quarterly increase of the company's annual performance growth is a deterministic event, and the further increase of the performance range of the interim report to 200-250% is the clearest signal.

The incentive scheme provides short-term security support for stock price. The company re