Investment advice: We believe that the gradual recovery of the macroeconomy and downstream industry, as well as the growing high-end film market, will bring new opportunities for the company's development. I am optimistic about the positive effects of the company's fixed growth project on the company's future development, and the broad development space of the company's big health strategy in the future. The company's EPS for 2016, 2017, and 2018 is estimated to be 0.18 yuan, 0.31 yuan, and 0.42 yuan, respectively, corresponding to the current estimated price-earnings ratio of 106 times, 63 times, and 46 times. Covered for the first time, with a “Recommended” rating. Risk warning: (1) macroeconomic downturn, downstream demand is insufficient; (2) the development of the big health strategy falls short of expectations; (3) sales of high-end functional films fall short of expectations.