In the third quarter, the cost of raw materials for packaging decreased, and the profitability of the packaging business improved. We estimate that the third-quarter packaging business achieved a profit per share of approximately RMB 0.12. This year, the price of polyester chips has dropped by about 40% year-on-year, and the gross margin of packaging business has increased significantly. In the first half of the year, the gross profit rate of PET bottles and bottle embryos reached 28.5%, which was a year-on-year increase of 6.52% and an increase of 4.83%. After deducting the real estate business, we estimate that the consolidated gross profit margin for the packaging business from January to September was about 25.9%, and the gross margin for the third quarter was about 28%. In the first three quarters, the profitability of joint ventures and joint ventures increased. The contribution of investment income reached 25.276 million yuan, a year-on-year increase of 626.32%. The main reason was that the operating conditions of the company's thin film business improved this year. Zihua CPE film and Zidong Chemical BOPA film have been realized. profit. The scale of the company's PET bottles and preforms, anti-theft cover and other leading domestic, China's beverage market, the average annual consumption growth rate of about 10-15%, ensuring the packaging business annual growth of about 10% steadily.

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