We judge that the company's RTU equipment and services will maintain steady growth in the next two years, and the smart granary, urban and environmental protection businesses are expected to exceed expectations. The seasonal factor of the company's performance is very strong, and the performance is highly concentrated in the fourth quarter.

It is estimated that from 2016 to 2018, the EPS of the company's preparation for the test will be 0.16, 0.23, 0.31 yuan respectively, and the PE of the preparation for the test will be twice as much as that of 57-41-30. Based on the traditional main business of RTU in the oil field, the company will enter the smart industries such as environmental protection and smart granary and smart city, and will benefit from the intelligent industry, Internet of things, environmental protection theme, and the performance has the potential to upgrade and maintain the "recommended" rating.

Risk hint: oil price hovers around the risk of traditional business downturn, extension development, wisdom industry expansion is lower than expected risk.