We expect the company's diluted EPS in 2012-2014 to be 0.45, 0.57, and 0.72 yuan respectively, with a compound growth rate of around 26%. Based on the valuation situation of listed coal machinery companies, and considering that the company's current revenue scale is still small but has good growth, we think it is reasonable to give 15-18 times PE corresponding to 2012 EPS, that is, the reasonable value range after listing is 6.81 to 8.17 yuan.