The company is an integrated manufacturer of substrates and organic coated boards. The company is an integrated R&D, production and sales enterprise for organic coated boards and their substrates. The main products are: high clean board, high toughness stain resistant board, antistatic board, ordinary board and substrate. It is mainly used in construction of new wall materials (about 80%), home appliance manufacturing, IT and other industries. By the end of '11, the company had a production capacity of 200,000 tons of substrates and 80,000 tons of functional organic coated plates. The company's 10-year sales revenue was 1.29 billion yuan, of which substrate revenue accounted for 57.8% of total revenue and organic coated board accounted for 38.2%. It is estimated that the expansion of production capacity will be completed in '13, and its functional board production capacity will grow to about 300,000 tons. At the same time, the revenue scale will grow to 1.59 billion yuan in '13, a compound annual growth rate of 7.2% over 10 years. Downstream demand is strong, and functional organic coated boards can be expected to grow in the future. According to estimates, the domestic organic coating board industry's terminal demand in 2010 was 6.25 million tons, an increase of 15.7% from 5.4 million tons in 2008. Among them, the demand for functional organic coated board terminals was 950,000 tons, accounting for about 18% of the total demand, an increase of nearly 56% over 2008. It is estimated that the new demand for functional organic coated boards will be at least 700,000 tons in '13. Among them, high-toughness anti-fouling boards and anti-static boards will account for about 400,000 tons of new terminal demand, while the cumulative increase of high-purity panels will be about 300,000 tons. The technological advantages are obvious, and the transformation of the product structure drives overall profit. The company currently has the right to use an invention patent (exclusive license), has developed and obtained three utility model patents, 1 invention patent and 4 utility model patents, etc., and was recognized as a national high-tech enterprise in 2009. At the same time, through the expansion of production through this fund-raising project, the company will shift its product structure mainly from low-margin products such as ordinary boards and substrates to a product structure dominated by high-margin functional organic coated boards, thereby improving overall profitability. The estimated listing price on the first day is 10.1-11.0 yuan. The company's fully diluted EPS is expected to be 0.55/0.66/0.89 yuan in 11-13, with an average compound annual growth rate of 27.2%. Combined with the recent increase in the SME market on the first day of listing, we expect the company's first-day increase to be around 0%-10%, with a corresponding price range of 10.1-11.0 yuan.