Investment Essentials 1. The charging pile received another major order after a lapse of two months, demonstrating the company's strong execution. On August 24, Nanjing Rongyue Electronics purchased 2,500 60KW DC charging piles from Fushun Optoelectronics. The settlement unit price for each unit was 42,000 yuan. The total amount was RMB 105 million. After less than two months, the company's charging piles received another major order, exceeding market expectations. It's only been half a year since the charging pile business began in April, and the company has received more than 300 million orders, demonstrating the company's strong ability to execute its business. According to reports, during the National Day holiday, the company worked overtime to promote the manufacture and delivery of charging piles. We expect orders to be delivered in August over two years and this time over five years are expected to be completed at an accelerated pace, which will bring high growth to this year's and next year's performance. 2. Fushun Optoelectronics customers are vigorously developing new customers. New and old customer resources are expected to bring a climax of orders. Jialu New Energy is a newly developed customer of Fushun Optoelectronics. It is also the first time that the company's charging pile business has received an order in the NEV sector, demonstrating the company's strong customer development capabilities. Previously, most of the company's LED product customers also had charging pile operation capabilities. With a strong customer base and strong customer development capabilities, the company's charging pile business is expected to usher in a boom in orders. 3. The company is speeding up mass production of selfie drone products. The S6 small selfie drone, which is yet to be released by Manta Intelligence, a subsidiary of Shellite, has outstanding performance, affordable price, and unique entertainment properties. As soon as it is released, it has become the focus of market attention. Currently, the company is rushing to mass-produce the S6 drone, and we expect mass supply of the S6 drone soon. According to forecasts, the market space for small selfie drones will exceed 20 billion dollars per year. In the future, it is also possible to expand application scenarios in combination with VR, etc., and the market space can reach 100 billion dollars every year. The subsidiary Manta Intelligence is expected to quickly enter the market through differentiated competition between miniaturized selfie drones and DJI, providing a new engine for the company's development. 4. The profit forecast takes into account the acceleration of the charging pile business and the promotion of mass production of drones. The company is expected to achieve net profit attributable to the parent company of 103 million, 158 million, and 229 million yuan in 16-18, corresponding EPS of 0.28, 0.43, and 0.62 yuan, and corresponding PE of 56X, 37X, and 25X, maintaining a highly recommended rating. 5. Risk indicates that new business development falls short of expectations.