A high-quality enterprise that is in the process of sorting out its business. The company began comprehensive business management in 2009 with the aim of highlighting advantageous industries. At present, it has basically determined a business structure centered on high-voltage insulators for transmission and transformation, clean and environmental protection equipment and engineering, and integrated opto-mechatronics surveying and mapping instruments. Investment in power grid construction has generally slowed, but investment in UHV power grids will continue to grow rapidly. After the peak investment period for power grid construction from 2005 to 2009, total investment in power grids may show a downward trend, but during the “12th Five-Year Plan” period, UHV power grids will enter the full construction period, thus causing related power equipment and raw materials, including UHV insulators, to show rapid growth. The company's insulator business showed both endogenous and epitaxial growth. The company is leading the insulator industry for high-speed rail and rail transit. The supply of products is in short supply, and production capacity is about to be expanded; Fushun Hi-Tech, which the company has privately purchased, has the world's leading production technology for UHV porcelain sleeves, and a new production line with high profitability is under construction. The domestic purification industry has broad development space. It is an emerging industry spawned by fine and high-precision manufacturing. The clean market space is huge. It is growing at a rate of 40%-50% every year, adding an annual market size of 9.5 billion US dollars. Currently, the market is dominated by foreign investors, and most domestic enterprises are engaged in low-margin engineering contracts. A leader in the domestic purification industry, enjoy the benefits of import substitution. Sujing Group, a holding subsidiary of the company, is preparing to establish the Suzhou Clean Environment Research Institute to improve the level of purification technology. We expect that Sujing Group will gradually break through the foreign monopoly situation, and that gross margin and market size will continue to rise. Give it a “buy” rating. We expect the company's earnings per share in 2011-2013 to reach 0.54/0.78/1.09, and the PE corresponding to the current stock price is 28.60/19.73/14.04 times. Considering that the company's development has reached an inflection point and the company's industry is growing significantly, after business valuation, we believe that the company's stock price has been underestimated, giving it a “buy” investment rating.