It is expected that the company's performance in 2006 and 2007 will be 0.79 yuan per share and 1.17 yuan per share. The average PE of the company integrated with zinc resources and smelting in 2007 is 9.14 times. As the company has a certain capacity expansion, it will be given 10 times PE in 2007, with a reasonable value of 11.66 yuan per share. Main basis: the company has 300000 tons of zinc ore reserves, annual production of 20, 000 tons of zinc, hydropower installed capacity of 110000 kilowatts. At present, it is the only coproduction enterprise of mining, electricity and smelting in the domestic zinc smelting industry. The company's main business is the mining of hydropower, lead and zinc and other non-ferrous metals, zinc smelting and its extended products. The sales revenue of zinc ingots and electricity accounts for more than 80% of the company's main business income, and the company's main source of profit is zinc mines. The company has a comprehensive production capacity of 60000 tons of zinc ingots, 3 tons of germanium, 7500 tons of sulfuric acid, 300 tons of cadmium, 800tons of lead slag, 2.5tons of indium and 12000 tons of ultra-fine zinc powder.

Risk hint: raw material supply and zinc price fluctuation risk, if the long-term trend of zinc price falls, the company's profit will decline.