Huaming Intelligence (300462) Company is a high-tech enterprise specializing in R&D, production, sales and maintenance of automatic ticket vending system (AFC) terminal equipment. The company's business includes the production of automatic rail transit ticketing equipment, the sale of parts of automatic rail transit ticketing equipment and related supporting equipment, sales and installation of intelligent safety gates for express bus platforms and shielded doors for rail transit platforms, software development, technical services for automatic lockers, computers and intelligent systems, technical consulting, and technology transfer. Specialization advantages. AFC terminal equipment is a complex system integrating various technologies such as computer technology, network technology, automatic control technology, contactless IC card technology, mechatronics technology, sensing technology, and machinery manufacturing technology. There are many types of equipment, high technical content, and complex structures. High requirements are placed on overall design, module manufacturing, and equipment management standards. Strong comprehensive technology integration and application capabilities are required. The degree of specialization is very high, and the maturity of the industry requires a long period of specialized accumulation and accumulation. Since 2001, the company has positioned itself in the R&D, production, sales and service of AFC terminal equipment, and has always focused on professional development in this field. Years of professional management have accumulated a lot of valuable experience for the company in manufacturing processes, talent teams, R&D results, customer resources, etc., and is also conducive to promoting and strengthening cooperative relationships with various system integrators. R & D and core technical advantages. The company has long focused on cultivating its own R&D strength. The company's R&D team mainly consists of the R&D department and the engineering department. As of December 31, 2014, the company had 94 professional R&D technicians of various types. The company's R&D department undertakes the main work of developing core modules and new products. It has comprehensive capabilities such as corresponding structural design, process design, control circuit board design, and control software development, and is the core department of the company. Up to now, the company has obtained 17 invention patents, 14 utility model patents, 14 design patents and 31 software copyrights, covering various types of AFC terminal equipment and core modules. Production process advantages. The company has advanced sheet metal processing equipment and high-level production technology in the industry, including the production process of core modules and shells. The technical content and added value of AFC terminal equipment is mainly reflected in the design and manufacture of core modules such as transmission modules, coin processing modules, blocking modules, and recovery modules. The technical complexity of the block is reflected not only in the development and design of the control circuit board and control software, but also in the design and manufacture of complex mechanical structural components in the module. These modular structural parts are small in shape but irregular in shape. There are many types, small batch production, and high processing accuracy requirements. Advantages of business development capabilities. Up to now, the AFC terminal equipment business carried out by the company for rail transit covers many cities in China. The company is also actively expanding the international market, seizing good opportunities for rapid urban rail transit development in Southeast Asia and South Asia, entering products into the Indian, Malaysian and Philippine markets, and achieving full AFC terminal equipment exports earlier among domestic enterprises. It is estimated that the company's EPS after dilution in 15-17 will be 0.93 yuan, 1.15 yuan, and 1.41 yuan. The company is a high-tech enterprise specializing in R&D, production, sales and maintenance of automatic ticketing system (AFC) terminal equipment. Combining the winning rate, individual stock fundamentals, valuation, and current market sentiment, we expect the pricing range of this IPO to be 20.40-20.52 yuan on the first day of listing. Investors who have won the bid are advised to continue holding.