Roots blowers, the leader in the Roots blower industry, are one type of blower, and China began to imitate this type of product in the 50s of the last century. The company began to introduce advanced technology and improve innovation through international cooperation in the 90s, and since 2000, its products can already be exported to developed countries such as the US and Japan. The company has ranked first in sales in the Roots blower industry for many years. In 2009, sales revenue accounted for 36% of the industry's revenue, and total profit accounted for 56% of the industry's total profit. Downstream applications are widely used, and emerging industries bring new demand. The main markets for the company's Roots blower products are distributed in various industries such as chemicals, cement, water treatment, steel, electricity, metallurgy, coal mining, pneumatic transportation, paper, textiles, etc. Although the company already has a large market share, the development of emerging industries will still lead to an increase in market size. Demand for the company's products in fields such as water treatment and gas separation is becoming more and more apparent. Although the company started recklessly by gathering wisdom from the four parties to promote development, it did not lag behind in technological learning and innovation. In addition to the training of technical personnel within the company, the use of external forces in various forms is also remarkable. The company brought in experts from Japan, advanced technology from Japan and the US, and cooperated with Japan Taiko Machinery Co., Ltd. to establish a joint venture, all of which laid the foundation for the company to accumulate its own technology. Currently, the company has a provincial technology center and undertakes 2 major national technical equipment research projects. Over the years, a total of 12 new products have been included in key projects such as national key new products and national key torch plans. The product was dug deeper and broadened, and fundraising sounded the trumpet of development. Currently, the company's products are mainly Roots blowers, supplemented by mills, slurry pumps, and pneumatic conveying projects. Although slurry pumps are being developed as an auxiliary business for the company, their gross margin is not lower than that of blower products, and production technology does not conflict with processes and blower products. Considering that the market capacity of centrifugal blowers is far greater than that of Roots blowers, the company decided to enter the field of centrifugal blowers and expand its product line. Due to constraints on production capacity, production cannot be released even though technical reserves have been put in place. In the field of root-type blowers, the company is focusing on developing new energy-saving products and deepening the existing market. The company plans to invest the capital raised this time into three projects: a new energy-saving Roots blower project, a centrifugal blower project, and a pneumatic conveying production (engineering) base construction project. It plans to invest a total of about 334 million yuan, all of which will generate a total profit of nearly 120 million yuan per year after delivery. If these three projects successfully reach production, the company will be able to go one step further in terms of the depth and breadth of its product line, and will also open up the market in terms of using equipment to provide overall services. The issue price range is 9.3 to 10.8 yuan, and the company is expected to achieve earnings of 0.54, 0.62, and 0.72 yuan per share from 2011 to 2012, respectively. We consider the average valuation of the blower industry and the competitive situation and growth prospects of the industry. According to PE estimates of 20 times in 2011 and 15 times PE in 2012, the estimated issue price is 9.3 to 10.8 yuan; compared to comparable companies in the industry, the PE valuation is 25 times this year, 20 times the PE valuation next year, and the reasonable price is 12.4 to 13.5 yuan.