Mainly engaged in electronic grade epoxy resins: Hongchang Electronics is a leading domestic manufacturer of high-performance, environmentally friendly electronic grade epoxy resins. In 2011, the company's actual total production capacity was 73,000 tons, mainly including 55,000 tons/year liquid epoxy resin, 53,000 tons/year flame retardant epoxy resin, 10,000 tons/year solid epoxy resin, and 10,000 tons/year solvent-based epoxy resin, covering the conversion part between categories. The electronic and electrical industry is the industry that accounts for the largest share of the company's downstream applications, accounting for 45.6% of the company's sales revenue in 2011. High quality epoxy resin still has a lot of room for development in China. The domestic supply of ordinary epoxy resins exceeds demand, and competition is fierce, mainly some workshop-style enterprises with small production capacity. High-quality epoxy resin has good applicability and stability. Domestic supply is in short supply, and it relies heavily on imports. In 2010, China imported about 309,600 tons of epoxy resin. High-quality epoxy resin still has a lot of room for development in China. According to the forecast of the China Epoxy Resin Association, the overall global supply and demand for epoxy resins is basically balanced, and the compound annual growth rate of domestic epoxy resin demand can reach 8% to 10% over the next 3 years. Strong technical research and development strength and rich customer resources. The company has strong technical and R & D strength. During the reporting period, the total number of new products and technologies developed by the company reached nearly 30, continuously received recognition and use by large well-known domestic and foreign manufacturers, and gradually formed a good and stable cooperative relationship. This time, the company publicly issued 10 million shares to the public, and invested in an “epoxy resin production line with an annual output of 80,000 tons”, including liquid type 23,000 tons/year, flame retardant type 42,000 tons/year, special lead-free process and non-halogen-free flame retardant products, 3,000 tons/year of curing agent, 2,000 tons/year of water-based epoxy resin, and 6,000 tons/year of diluted epoxy resin. The total investment amount of the project is 628 million yuan, the construction period is 2 years, and it is expected to be put into operation by the end of 2013. Currently, the use of the company's production capacity is close to the limit. The fund-raising project will help ease the company's bottlenecks and further enhance the company's competitive strength in the epoxy resin field. Based on the total share capital of 400 million shares after issuance, we expect the company's EPS in 2012, 2013, and 2014 to be 0.15 yuan, 0.17 yuan, and 0.24 yuan respectively, with a reasonable value range of 3 yuan to 3.4 yuan.