Main opinion: The growth rate of the civil bombing industry is slowing down, and the industry is speeding up mergers and integration of the civil bombing industry due to the slowdown in economic growth. The future growth rate of the industry will slow down. At the same time, the country will liberalize the prices of civil bombing equipment to encourage competition in the industry. The industry is facing overcapacity and increased competition. The 13th Five-Year Plan Government encouraged the integration and expansion of the resources of upstream and downstream enterprises in the civil bombing industry, promoted the integration process, and concentrated superior resources on leading and key enterprises. As a leader in the commercial explosion industry, the company will use capital platforms to accelerate epitaxial expansion and integrate upstream and downstream industries in the future. The company has optimized its product and service structure, accelerated the rapid growth in demand for civilian explosive equipment in the western part of the country, and accelerated its deployment in western regions such as Xinjiang and Sichuan. In order to meet customer needs and increase the share of revenue from blasting projects, the company has established an advantageous position in the industry in the fields of industrial chain integration, regional layout, and technological innovation by creating an integrated service model for mining design, mixed production, mining mining, and rough processing of mineral products. The fixed increase promotes industrial upgrading, and the company plans to raise 1.1 billion yuan in capital, mainly for mining engineering general contracting and mine ecological restoration projects, integrated blasting engineering projects, smart explosion factory projects, intelligent production line construction projects and digital civil explosion industry chain projects to further improve the company's integrated industrial chain of production, distribution and blasting engineering services, raise the company's intelligent manufacturing level, help the company transform and upgrade, and resume rapid development. Accelerate business transformation and cultivate new profit growth points such as the new materials industry. The company has successively invested in three explosive synthesis new material projects for nanometallic oxides, polycrystalline diamonds, and explosion-composite new metal materials by developing explosive deep processing industries and extending downstream industrial chains. Actively deploy new fields such as Internet+, cloud computing, big data, artificial intelligence, etc., realize the transformation and upgrading of traditional business to the direction of informatization and intelligence, and expand the strategic vision of new business growth space. Profit forecasting and investment suggestions suggest that the company increase the commercial explosion industry, accelerate the integration of bombing services, and at the same time cultivate the new materials business, and be optimistic about the company's industrial upgrading and business transformation. Earnings per share for 2015-2017 are estimated to be 0.28, 0.30, and 0.34 yuan respectively, giving the company a target price of 8.00 yuan, giving the company an “increase in holdings” rating.