Incident: The company announced the winning bid information for the equipment. The company's D-Lami laminating equipment won the bid for the Mianyang BOE 6th generation AMOLED (flexible) production line project, with a bid amount of RMB 81.2 million. Comment: D-Lami laminating equipment won the bid for the BOE Mianyang flexible OLED project, which is a major breakthrough in the company's optoelectronic display business. As the domestic OLED production line continues to be invested and built, the company's growth space will be effectively increased as a replacement leader in the import of such equipment. D-Lami laminating equipment is the core module equipment of the OLED production line, and there is broad scope for future market demand. With the rapid penetration of 3D curved OLED displays, D-Lami bonding devices are becoming the core equipment of the OLED project module channel. The technical difficulty of this type of equipment is high, and the technology has always been mastered by Korean equipment vendors. The company won the bid for BOE's Mianyang OLED project, taking the lead in importing and replacing this type of equipment. Furthermore, the single value of this type of equipment is large and the number of renewals is high. A single set of similar overseas equipment is worth about 6 million US dollars. If BOE Mianyang uses 3D curved surface bonding, the demand for a single project is more than 20 sets, that is, the demand amount for a single project is over 120 million US dollars. Even if the next part of the module line uses the 2.5D technology route, the company's technology is expandable downward, and there is broad scope for future market demand. The company's optoelectronic display business has many reserve projects, and growth space will continue to open up. In addition to the OLED module D-Lami bonding equipment, the company has concentrated resources in recent years to break through various types of equipment in the field of optoelectronic displays, and has many reserve projects. Various types of equipment, including biometric module bonding, FOP module packaging, and 3D curved glass spray exposure, are expected to be released one after another, enriching the company's product line in the field of optoelectronic flat panel displays and rapidly forming a business situation where electronic assembly equipment and optoelectronic display equipment develop collaboratively. The new plant was completed, and the company's production capacity bottlenecks were effectively released. Previously, the company's revenue scale was clearly limited by overall production capacity. With the completion of the Jintuo Optoelectronics Industrial Park located in Shiyan Street in December 2018, the company's production capacity bottlenecks will be effectively released. The construction area of the new plant is about 70,000 square meters, which is three times the construction area of the existing old factory area, and will provide a solid material guarantee for the company's continued growth. Investment recommendations: Net profit for 2018-20 is expected to be 0.96, 1.56 and 197 million yuan, up 19%, 63% and 26% year on year. The corresponding EPS is 0.39, 0.64, and 0.81 yuan, respectively, and the corresponding PE is 57, 35, and 28 times, respectively. Maintain a highly recommended rating. Risk warning: Demand for electronic assembly equipment has declined, and new product shipments have fallen short of expectations.