The company is one of the leading enterprises in China's carbon black industry. The majority shareholders are two natural persons, Liu Jiangshan and Yu Jumei. The company plans to issue 50 million A-shares, and the capital raised will be invested in four projects, including “a new hard process carbon black production line with an annual output of 40,000 tons and a soft carbon black production line with an annual output of 40,000 tons”. In 2009, the company achieved operating income of 96.7933 million yuan, net profit of 69.2659 million yuan, EPS of 0.46 yuan, and a diluted share capital of 0.36 yuan after issuance. Currently, among listed companies, Black Cat shares are related companies and can be used as the main reference for the company's issuance and listing pricing. The P/E of Black Cat shares is 35.88 times. Based on this calculation, the price of the company's stock is 12.92 yuan. Taking into account the current market conditions and company fundamentals, it is more appropriate to give the company A shares 25 to 30 times P/E. The price range for the company's shares is 9.00 to 10.80 yuan.