Professional energy-saving service provider: the core technology is low-temperature waste heat power generation, mainly engaged in waste heat power generation project investment, technology development, engineering design and consultation, system integration and equipment, project construction management and project general contracting, and carry out contract energy management, provide clean development mechanism development solutions and technical advice, according to the different needs of customers at home and abroad. Customize the best waste heat utilization technology solution for customers with flexible business model.
Rich project experience: the company has rich project experience, based on the field of waste heat power generation in the cement industry, and has rapidly entered the international market since 2007. At present, it has designed and equipped a low temperature waste heat power generation system for nearly 300 cement kiln production lines at home and abroad. In addition, the company has also successfully applied waste heat power generation technology to iron and steel, chemical industry, non-ferrous metals, glass and other building materials industries, and has completed more than 20 projects (more than 30 production lines) since its establishment.
Enjoy the fruits of industry development: in recent years, the state's advocacy for energy conservation and environmental protection has been continuously strengthened, and a series of policies have been issued to support the development of waste heat power generation and energy conservation and environmental protection industry, which has effectively stimulated the demand of the industry. China's cement industry waste heat power generation still has a large market space. In terms of overseas markets, except Japan, South Korea, Thailand and Taiwan, the popularization rate of cement waste heat power generation in other major developing countries and some countries in Central Europe is very low, and the international cement waste heat power generation market also contains great potential for development. In addition, with the full development of energy conservation and environmental protection planning, the market of energy saving and waste heat power generation in non-cement industry is growing rapidly, which will also provide great opportunities for the company to further expand its business areas.
Investment suggestion: do not consider the equity acquisition of Nantong boiler for the time being, it is estimated that the EPS of the company from 2014 to 2016 will be 0.27,0.31 and 0.33 yuan respectively. Compared with the optional company trench energy conservation, we think that the reasonable price range of the company is between 5.4yuan and 6.7yuan, and the proposed inquiry range is between 3.2yuan and 4.3yuan.
Risk tips: macroeconomic downside risks, overseas business risks, risks related to the acquisition of Nantong boilers, etc.