Profit forecast
The company is a white power upstream parts manufacturer, we comprehensively refer to the valuation level of such listed companies and recent listed small and medium-sized board enterprises, combined with the company's current fundamentals and future development, we think that its reasonable valuation range is 15-20 times.
According to our forecast of 0.75 yuan per share based on the total share capital after the issue in 2012, the corresponding target price range is 11.2 yuan-14.9 yuan.