Key investment points: The company's employee stock ownership plan has completed the company's transformation and is firm. It is expected that the company's momentum will be fully unleashed this year. For the first time, the “buy” rating report summary: The employee stock ownership plan has been completed. Tai Zhengbiao, the controlling shareholder of the company, reduced his holdings by 1.3595 million shares to the company's first phase of the company's employee shareholding plan through a bulk trading system. As of June 2, 2015, the first phase of the company's employee stock ownership plan has purchased a total of 5,497,902 shares of the company's shares through secondary market purchases, accounting for 2.45% of the company's total share capital, with an average purchase price of 19.23 yuan. At present, the employee stock ownership plan has completed the purchase of shares, and the lock-up period for shares purchased under the plan is from June 3, 2015 to June 2, 2016. The company is determined to transform and is expected to achieve a breakthrough this year. With the mission of “driving the world, making the future intelligently”, the company has changed its business model from a single product R&D, manufacturing and sales model to a comprehensive service and complete solution delivery model through endogenous growth and epitaxial mergers and acquisitions, and is committed to becoming a world-class supplier of power transmission and intelligent equipment system solutions. Working in robotics also has a long history, holding 4.61% of Shengtian Hydraulic's shares. Shocking Hydraulic has now formed three categories of specialty products, including “excavator accessories series dominated by hydraulic breakers,” “hydraulic crushing equipment represented by fixed hydraulic stone crushers,” and “high-power multi-functional intelligent work robots based on dismantling robots.” Since the company clearly transformed last year, we believe that the company's transformation is expected to achieve a breakthrough this year. Build a partnership with Silicon Valley Paradise. The company's cooperation with Silicon Valley Paradise is progressing smoothly. It has now completed the strategic planning and sorting out, clarifying three development directions: metallurgical equipment, transmission machinery, and intelligent manufacturing. In the future, the company will make full use of its advantages in technology, market, brand, etc. to complete endogenous growth and epitaxial mergers and acquisitions according to the plan. Silicon Valley Paradise will also use its global vision to select high-quality mergers and acquisitions targets for the company on a global scale to help the company carry out strategic transformation and achieve rapid sustainable development.