The company is a leading manufacturer of materials for nuclear fuel processing equipment in the domestic nuclear power industry. Engaged in R&D, production and sales of high-performance aluminum alloy materials and machined products, it produced 2,746 tons of high-performance aluminum in 2014, mainly used in the field of nuclear energy. From 2012 to 2014, the company's revenue in the nuclear energy sector accounted for 94.98%, 90.69%, and 90.89% of main business revenue, respectively. The company's key customers are CNNC. The company's industry segment is the processing and manufacturing of high-performance aluminum alloy materials for special equipment for nuclear fuel processing. In the nuclear energy industry chain, the company is located in the middle, providing production raw materials for downstream nuclear fuel processing equipment manufacturers. Since special equipment for nuclear fuel processing is closely related to nuclear safety and the application of nuclear energy, qualifications and technical barriers are very high. Currently, only three participating research units in China, Zhongfei Co., Ltd., Northwest Aluminum, and Beijing 621 have been selected as suppliers of aluminum alloy materials for special equipment. The outlook for China's nuclear power market continues to be stable. According to the national plan, the proportion of nuclear power installed capacity in the total volume will increase to 4% by 2020, and the room for future growth will double. The development of the nuclear power industry will strongly drive demand for materials for the manufacture of special equipment for nuclear fuel processing. Currently, it is estimated that the future market space is 800 to 1 billion yuan/year. The fund-raising project enhances the company's profitability: The fund-raising project is a “high-performance aluminum alloy material industrialization project for special equipment for nuclear fuel processing”. After production is put into operation, 8,950 tons of high-performance aluminum alloy materials can be produced per year, increasing production capacity by 325.5%, resolving shortfalls in the company's production capacity, and expanding sales revenue to enhance profitability. Valuation analysis and quotation recommendations: The company's total share capital before issuance was 34.025 million shares, and the total share capital after issuance did not exceed 453.75 million shares. The recommended subscription price is about 17.56 yuan. For PE that should be static after release, 22.23 times, and the corresponding post-release PB is 3.31 times. Considering that the company benefits from the steady long-term growth of the nuclear power industry, it is expected that the company's listing will enjoy a high valuation. In 2015, PE is calculated by 124 times, and the reasonable stock price of Zhongfei Co., Ltd. is expected to reach 109.12 yuan in the future, corresponding to a market value of 4.95 billion yuan. Risk warning: Nuclear power industry construction is slowing down, nuclear power safety accidents have occurred, industry supply and demand imbalance