Hongchang Electronics is a leading manufacturer of electronic grade epoxy resins in China. Hongchang Electronics's main business is the production and sale of electronic-grade epoxy resins. Its products cover the five major categories of epoxy resins: flame retardant, liquid, solid, solvent, and others. It is one of the major domestic epoxy resin manufacturers. Judging from comprehensive indicators such as revenue scale, asset size, and profit scale, the company's overall ranking is in the top 3 in the industry. The epoxy industry is driven by the downstream electronics industry and the wind power industry. The main application field of electronic grade epoxy resin is the production of copper-clad plates; the second is the packaging of various electronic components, semiconductors, and integrated circuits. With the rapid development of China's electronic information industry and the shift of the foreign electronic information manufacturing industry to the Chinese industry, domestic demand for printed circuit boards is strong and continues to develop rapidly. Epoxy resins are also widely used in the manufacture of fan blades and special coatings. Hongchang Electronics is the first domestic manufacturer of epoxy resin for fan blades certified by GermanischerLloyd (GermanischerLloyd), and the rapid development of the domestic wind power industry will surely drive the company's epoxy resin manufacturing for composite materials to grow rapidly. The fund-raising project will help the company break through the bottleneck of production capacity restrictions. The company raised capital to invest in the “high-tech chemical project for electronics” to build three synthetic reaction production lines and supporting ancillary equipment, with an annual production scale of 80,000 tons of epoxy resin, including 23,000 tons of liquid products, 42,000 tons of flame-retardant products, 4,000 tons of lead-free and halogen-free flame retardant products, 3,000 tons of curing agent, 2,000 tons of water-based epoxy resin, and 6,000 tons of diluted epoxy resin. The products are mainly sold to domestic and foreign manufacturers of copper-clad plates, LEDs, coatings and wind blades. Once production is put into operation, it will break through the current bottleneck of production capacity restrictions. Profit forecasting and investment advice. In the next two to three years, the company will increase its production capacity by 80,000 tons to 153,000 tons through listing and implementation of fund-raising projects, and the company's brand and popularity will be further enhanced. We forecast that the company's earnings per diluted share from 2012 to 2014 will be 0.14 yuan, 0.15 yuan, and 0.22 yuan, respectively. The subscription price of Hongchang Electronics was 3.60 yuan. The first-day listing price gave a 15% to 30% premium, and the closing price on the first day was 4.14 to 4.68 yuan.