Highlights of the report describe the incident on December 31, 2016, Jinmembrane Technology received the “Notice of Winning the Bidding Notice for the Third Division Tumushuke Construction Project” issued by Xinjiang Production and Construction Corps Bidding Co., Ltd., and determined that the company was the winning bidder for the “Tumushuke Textile Industrial Park Sewage Treatment Plant PPP Project (Electromechanical Equipment and Services)” of Xinjiang Hongda Huanneng Water Technology Development Co., Ltd., with a bid amount of about 149 million yuan. The incident review won the bid for a large project, and the short construction period will clearly enhance the company's performance. The sewage treatment plant in Tumushuke Yonganba Textile Industrial Park has a total investment of 250 million yuan, covers an area of 71.8 acres. It will be built in 2 phases to treat 30,000 tons of sewage the day after completion. Using domestic and world-class mature MBR membrane technology, the treatment water quality reached the national level A standard. 90% of the reclaimed water is reused for landscaping and enterprise processes. It is a demonstration project for ecological environmental protection, energy saving and emission reduction in Qingshan Green Water. The company's bid amount this time accounted for 24.64% of 2015 revenue, and the winning bid period was within 10 months from the date the contract was signed. If the company successfully signs a formal contract and implements it later, the shorter construction period will have a positive impact on business performance in 2017. The government attached great importance to it, and the demonstration effect outside the province was prominent. The PPP project in Tumushuk Textile Industrial Park received great attention from the local government. Members of the municipal people's congress, government, CPPCC leadership team and heads of relevant departments all attended the project mobilization meeting. The PPP sewage treatment plant project is part of the textile industrial park cooperative infrastructure project, and the smooth progress with government support will help the company continue to expand its market share. Based on membrane technology, PPP is used to achieve “technology+engineering two-wheel drive”. In the past, the company was driven by membrane products as the core, and investment and operation integration became a trend driven by the PPP model. The company followed the major trend and began to promote “product+engineering” two-wheel drive, and the future is worth looking forward to. Profit forecast and investment suggestions: Considering fixed growth and dilution (2017 consolidation and dilution), we expect the company's EPS from 2016 to 2018 to be 0.18, 0.62, and 0.81 yuan respectively, and the corresponding PE will be 100X, 29X, and 22X respectively, maintaining a “buy” rating!