Investment points: 1. The company is mainly engaged in R&D, production and sales of industrial automation instruments. The company's products mainly include electric actuators, flow meters, signal conditioning instruments, control valves and other instruments. Industrial automation instruments are widely used in modern industry. According to statistics from the China Instrumentation Industry Association, the investment amount of instrumentation in the proportion of total investment in industrial engineering equipment is on the rise, from 5% in the early stages to about 18% at present. 2. There is a big gap between the overall technical level and product quality of China's industrial automation instrumentation industry and the advanced level of foreign countries. Most of the enterprises are small, and the scale of R&D investment is not large. As a result, the overall technical level of industrial automation instrument manufacturers in China is low, and their R&D capabilities are weak, and their products are mostly low-end products. 3. The company has strong technical and R&D capabilities. At present, the company has successfully completed independent research and development of signal conditioning instruments, control valves, power transmitters, valve locators, liquid level meters, building actuators, etc. Currently, the company and its subsidiaries hold a total of 14 patents, including 5 utility model patents and 9 design patents, 6 patents in the application or examination stage, and 43 non-patented technologies. 4. Fund-raising projects open up new fields and enhance the company's competitiveness. The stock offering raised capital to invest in the construction of four projects: “Smart Instrument R&D and Production Expansion Project”, “Smart Electric Actuator R&D and Industrialization Project”, “Flow Meter R&D and Industrialization Project”, and “Other Working Capital Projects Related to Main Business”. Through the construction of solicited projects, it is possible to improve the company's technical level and ability to innovate independently, increase product types and product lines, expand product application areas, improve product quality, and reduce production costs. 5. Subscription recommendations. It is estimated that the company's fully diluted EPS in 2010-2012 will be 0.50 yuan, 0.64 yuan and 0.85 yuan respectively. Referring to the valuations of GEM and companies in the same industry, the company's reasonable valuation range is 15.00-17.50 yuan, and the recommended inquiry range is 12.75-14.88 yuan.