PC1 released its Q1 2019 results in which Q1 2019 revenue and NPAT-MI grew 50.2% YoY and 38.7% YoY, respectively, mainly driven by the recovery of grid erection & installation and electric steel pole manufacturing. These results completed 22.1% and 21.5% of our 2019 revenue and NPAT forecast, respectively, while we also note the grid erection & installation and electric steel manufacturing segments have a nature of revenue and profit booking towards the year end. We expect a slight upside risk