GC9 has been well received.Management commented that the initial reception of the new mid size sedan has been better than their expectation and the demand is skewed towards the higher end variants.They cannot fulfil all the order within a month as production is still in ramp-up stage.They expect the monthly production could gradually ramp up from c2,000 unit per month in May to c5,000 units per month in 3Q15.The pace of ramp up is faster than our expectation which drove us to revise up our GC9 sales volume forecast by 39% to 32k units in 2015e and 50k units in 2016e.