Incident: On May 27, 2016, the company issued a revised plan for the non-public offering of shares. Since the company completed the distribution of 10 shares of 1.08 yuan and transferred 20 shares on April 27, the current non-public offering price was adjusted from 26.28 yuan/share to 8.73 yuan/share, issued 115 million shares, and raised no more than 1 billion yuan to supplement liquidity. In addition to the actual controllers, the remaining four strategic investors were identified as Yadong Fosun, Tibet Yuanze, Dongfang Venture Capital, and Haier Venture Capital. Comment: Both main businesses benefit from the “13th Five-Year Plan” policy dividends. The 13th Five-Year Plan clearly mentions that by 2020, the total number of transport airports in the country will reach more than 260. By the end of 2014, the number of airports was 202. Coupled with supporting integrated transportation hubs, 30,000 kilometers of high-speed railways, and a large number of stadiums and fitness centers, etc., the downstream metal roofing market will continue to experience a high point of prosperity. In terms of photovoltaics, by 2020, the cumulative installed scale of distributed photovoltaic power generation is expected to reach 70 GW, accounting for half of the installed capacity of photovoltaics. Continuously integrate resources and practice internal skills. The company acquired Zhongwei Office and Zhongwei Steel Structure in 2016. The target company has rich design experience in the fields of steel structure public buildings such as high-rise buildings, large spans or cultural and art centers, and steel structure platforms supporting logistics transportation and distribution systems, and has a strong synergy with the company's metal roof. The main product of Shenzhen Sanyi, which the company acquired in 2015, is also metal roofing. Not only are there domestic cases such as Wuhan Railway Station and Baiyun Airport, but in recent years it has also expanded overseas. It also has operations in Southeast Asia, Central Asia, the United States, and Australia, which can form a strong support for the company's overseas business. Bringing in strategic investors to help the company. The strategic investors introduced by the company this fixed increase can fully support the company's long-term development. Yadong Fosun, Tibet Yuanze, Haier Venture Capital, and Oriental Asset Management can all provide rich project resources at specific business levels, while also providing equity investment and industrial chain integration in terms of capital operations to enhance the company's overall competitiveness for the first time, giving it a “recommended” rating. The company's EPS is expected to be 0.53 yuan, 0.67 yuan, and 0.90 yuan respectively in 16-18. Corresponding to current stock prices, PE is 22.1X, 17.7X, and 13.2X, respectively. First coverage, giving a “recommended” rating. Risk warning: 1) Infrastructure progress falls short of expectations; 2) The RMB exchange rate fluctuates sharply.