The industry space is vast, and demand for high-voltage cables can be expected to grow. In order to change the situation of insufficient investment in China's power grid, the State Grid and China Southern Power Grid have planned a total investment of more than 1 trillion yuan during the “11th Five-Year Plan” period, which will drive the vigorous development of the relevant cable industry. The construction goals of “west-to-east transmission, north-south mutual supply, and nationwide networking” and the pattern of “long distance, wide range, high capacity, and high voltage” will make power grids above 500 kV the main grid of power grids in various provinces and regions, and 220 kV as the main power supply grid everywhere, all of which will bring demand space for high-voltage cables. The company is expanding rapidly and is about to enter the high-pressure field. The company developed rapidly in the three years 2007-2009. The production capacity of its main products, wire and cable, and wire and cable for equipment, doubled, and the production capacity of bare wire also tripled. With the smooth commencement of the fund-raising project, the company will maintain the advantages of the medium and low voltage market and further expand the market areas for high voltage and ultra-high voltage cable products. Value marketing, “spot locking copper” to avoid risk. When the price of raw materials fluctuates greatly, the company can still maintain a stable gross profit margin and has strong cost transfer capability. Mainly because the company does not rely on price to win, but instead puts forward the concept of “value marketing” and the product positioning of a “high-quality power cable provider” to establish its own brand. On the other hand, the company is located in East China, which has an abundant supply of cable raw materials such as copper and aluminum, and has strong bargaining power with upstream companies. In addition, adopting a “spot copper lock” approach can fully avoid the risk of fluctuations in copper prices. The reasonable valuation range is 12.03-14.44 yuan. The company's earnings per share for 10-12 years are estimated to be 0.48 yuan, 0.57 yuan, and 0.78 yuan respectively. We gave the company a 10-year corresponding price-earnings ratio of 25-30 times, a reasonable value range of 12.03-14.44 yuan, and a recommended subscription range of 13-14 yuan.