Business outlook: at the fundamental Hagen Conference in December 2009, China solemnly promised to reduce carbon dioxide emissions per unit of GDP by 40% to 45% by 2020 compared with 2005. In such a long period of time to reduce carbon dioxide emissions on such a large scale, the promotion of energy-efficient building materials must become one of the key points of policy tilt, because building energy consumption accounts for 25% of the national energy consumption, while door and window energy consumption accounts for more than 50% of the total building energy consumption. At present, the popularization rate of energy-saving glass in China is less than 10%, which is far behind that of developed countries. At present, energy-saving glass is mainly used in public buildings, and the important growth point of energy-saving glass in the future lies in the promotion of public buildings to civil buildings. The subsidy of "building materials to the countryside" policy for energy-saving houses is the embodiment of the extension of energy-saving building materials to civil buildings. In 2008, the military area of civil buildings in China is about 500 million square meters, and the application space of energy-saving glass is very huge. The recent and future production lines put in by the company have high technical content and remarkable energy-saving effect, which conforms to the general trend of national energy saving and emission reduction and accords with the current industrial policy of the country. And the operating environment faced by the company has been greatly improved, with the release of the company's future production capacity, sales revenue will achieve substantial growth.

Profit forecast and investment recommendations We expect that from 2010 to 2012, the company's EPS is 0.184 yuan 0.289 and 0.353 yuan respectively, and the corresponding PE is 43.7pm 27.88 and 22.79 times respectively, giving the company a "neutral" rating for the first time.