The company cooperated with Wuhan University of Technology to develop its own high-speed rail emulsified asphalt technology (the first in China), which has now been tested on the Beijing-Shanghai high-speed railway. The company's equipment has already met the requirements for mass production, and it is estimated that there is a high probability that it will enter the high-speed rail procurement system in the future. Currently, only a few companies, such as Sinopec, own this technology, and the technology has all been imported from Germany and Japan. We believe that whether the company's future new product market development will go smoothly will be an important factor in whether the company's performance can exceed expectations. Risk warning: The risks faced by the company are mainly the risks of major customers and the risk of competitive disadvantages in the market. Performance forecasts and ratings. In view of the company's current rising cost pressure, we lowered the company's performance forecast for 2011 to 0.71 yuan. Guochuang Hi-Tech (10/11/12 EPS 0.37/0.71/0.92 yuan, current price 18.71 yuan, corresponding to 10/11/12 PE 51/27/20 times, giving a target price of 24.00 yuan, maintaining the “increase in holdings” rating).