The company is a specialized, high-quality daily-use porcelain supplier integrating R&D, design, production, sales and service. It is committed to shaping the “Songfa” high-end daily-use porcelain brand image, making the product the carrier of “quality life”. The company's main products include daily-use porcelain, fine porcelain and ceramic wine bottles. The company's product research and development, design capabilities and process technology are at the leading level in the industry. It is highly recognized in the high-end daily-use porcelain market, collection and appreciation market, etc., and also lays a solid foundation for the company to implement the strategy of “enhancing brand image and product added value through fine porcelain, achieving profit growth and increasing product market share through high-end daily-use porcelain”. It has strong technical research and development and creative design advantages. As a “private technology enterprise in Guangdong Province” and a “member unit of the Guangdong Daily-use Craft Ceramics Standardization Technical Committee”, the company has a high-level R&D and technical team and has independently applied for 167 domestic and foreign patented technologies, including 3 invention patents. On average, more than 2,000 new products are developed every year, and the products have rich cultural connotations. In the creative design process of products, the company also introduced design talents from other industries such as industrial design, advertising, and fashion design to innovatively integrate design ideas from other industries into the design of ceramic products. Since 2003, the company has collaborated with Dorfel Design Office in Germany and Spizes Design Office in the Netherlands to design and develop products, and has hired the world's top pottery masters as design consultants for a long time, and the products they design are highly collectible. Process leadership. In 2008, the company began implementing the “Continuous Low Energy Tunnel Kiln Optimization Project” renovation project. By transforming the traditional intermittent shuttle kiln into a new continuous roller kiln with continuous operation, and switching to radiative heat transfer technology with high-efficiency burners to improve firing technology, adding heat transfer equipment to modify the kiln waste heat recycling system, and using new refractory materials such as foam corundum and mullite felt to build the kiln body, which greatly reduced energy consumption and ineffective heat emissions, saving about 30% of energy compared to traditional shuttle kilns, and achieving energy saving and emission reduction effects by about 30% compared to traditional shuttle kilns. Further reduce production costs. In addition, the company has successively successfully developed various new formulation products such as silicon-zirconium hard daily-use porcelain, lead-free glazed bone porcelain, high-strength ultra-thin high-temperature fine porcelain, medium temperature red and yellow glazes, bone porcelain matte glazes, and matt glazes. The company's EPS is expected to be 0.64 yuan, 0.74 yuan, and 0.80 yuan after 15-17 years of dilution. From 2012 to 2014, benefiting from the rapid development of the overall ceramic market, the improvement of the company's creative design capabilities, and advantages in customers and marketing channels, the company's gross margin has always maintained a stable trend. The current issue price was 11.66 yuan, and the price-earnings ratio of the issue was 22.86. Considering the comparable valuation situation of the company and the room for industry growth, a recommended subscription rating was given. Risk warning: Fluctuations in raw material prices have a negative impact on the company's profitability, and fund-raising projects are risky.