It is expected that the company will achieve fully diluted earnings per share of 0.34, 0.44 and 0.67 yuan respectively from 2007 to 2009, with a reasonable price-to-earnings ratio of 3538 times in 2008 and a reasonable value range of 15.4 to 16.72 yuan in 2008. We give the company a "neutral" investment rating. The success of HDI production determines whether the company can achieve rapid growth again. Therefore, if HDI is successfully put into production in the second half of the year, the valuation level of the company will rise and the time to buy will come.

Risk analysis. The company is an export-oriented enterprise, the appreciation of RMB will reduce the price advantage of its products and bring exchange losses; the risk of rising prices of raw materials, and the sharp rise in the prices of precious metals, oil, coal and other basic energy sources will bring certain cost pressure to the company; the printed circuit board industry has a high degree of competition and weak pricing power, facing the risk of falling product prices.