The company is a private high-tech enterprise that uses the DMS business model to design, produce and sell exterior structural components for televisions. The predecessor of the company was founded in 1997. After more than ten years of rapid development, it has developed a total of 255 domestic and foreign customers. Currently, the company mainly focuses on black electric exterior parts, accounting for about 90% of revenue; in 2009, it produced 7.6 million sets of television exterior components, and is currently the largest supplier of television exterior parts in China, with a market share of over 6%. Beginning in 2009, the company quickly launched design and manufacturing services for supporting structural parts for white goods companies such as refrigerators and air conditioners. In the future, this part will become a new growth point for the company's performance. The company began entering the automotive interior and exterior parts field in 2004, and has now established strategic partnerships with major automobile manufacturers or suppliers such as Fuao Jiangshen and Chery. The company positions the design and manufacture of automotive interior and exterior parts as a medium- to long-term strategic direction, and is committed to developing them into future main business projects. The fund-raising projects mainly include television exterior structural parts capacity expansion projects and mold projects, with a total investment of 454 million yuan. The company currently has production capacity bottlenecks for television exterior components, which need to be solved through external cooperation; after the fund-raising and capacity expansion project reaches delivery, the company's production capacity of outsourced televisions will increase 600,000 units to 7.1 million units/year. Reasonable value range: We believe that the company's reasonable value range should be 12.25-14.00 yuan, corresponding to dynamic PE between 35-40 times.