1. IPO purchase proposal:

Tianjie Environment is a well-known comprehensive air pollution prevention and control solution provider in China, mainly focusing on particulate matter emission control, providing customers with extra-large dust collectors in a number of industries. The company mainly provides three kinds of precipitators, including electrostatic precipitator, bag precipitator and electric bag compound precipitator. According to the Yubo report, it is the third largest manufacturer of dust collectors in China in 2014 in terms of total sales and the fourth largest exporter in terms of total export sales.

Improving air quality has become the top priority of the Chinese government. The state has launched a series of policies to prevent and control major pollution and promote the installation and transformation of dust collectors in key industries that cause pollution. The industry of air pollution prevention and control facilities is expected to maintain rapid growth in the next few years. According to the IPO document, Tianjie Environment made a profit of 74.189 million yuan for the year ended December 31, 2014. assuming there is no over-allotment option, the IPO price is equivalent to 16.27 to 23.13 times 2014 price-to-earnings ratio, with a high valuation, but considering the good growth prospects of the industry, it is recommended to participate in the subscription cautiously.