Events:
The company received the procurement contract for online monitoring and adjustment of wind powder for Taiji power generation signed with Zhejiang Tianhong material Trading Co., Ltd., with a total contract amount of 14.44 million yuan, accounting for 4.41% of the company's audited business income in 2018.
Comments:
1. New products are added to the business of the environmental protection plate, and the power consumption of the boiler intelligent combustion system is reduced by more than 1.5g.
The company's new product, "Boiler Intelligent Combustion system", has a breakthrough in technology. the system includes a primary air powder combustion thermal kinetic energy adjustment system and a boiler three-dimensional space combustion intelligence state adjustment system. The common use of the two systems can achieve energy saving, consumption reduction and environmental protection. According to the feasibility study, the boiler intelligent combustion system is expected to increase boiler efficiency by 0.457%, reduce comprehensive plant power consumption by 0.2%, and reduce coal consumption by more than 1.5 g / kWh. According to the estimation, after the application of the system, the comprehensive cost of coal consumption / ammonia consumption / carbon emission can be saved more than 6 million yuan per year, and the input cost can be recovered in 2-3 years, and the customer economic benefit is remarkable.
2. there is a great demand in the industry of reducing consumption and emission, and the landing of the order of Zhejiang Energy Group is beneficial to the promotion in an all-round way.
By the end of June 2019, the capacity of power generation equipment in power plants of 6000 kilowatts and above nationwide was 1.84 billion kilowatts, an increase of 5.7 percent over the same period last year. Among them, the installed capacity of thermal power is 1.16 billion kilowatts, accounting for 62.8% of the total installed capacity, and the industry trend is mainly concentrated in units with more than 600,000 kilowatts. The company's boiler intelligent combustion system is mainly used in units with more than 600,000 kilowatts. The decline in kilowatt-hour coal consumption is conducive to customers to reduce costs, return on investment for 2-3 years, and high performance and price. The company has been committed to environmental protection and emission reduction business, and has a good cooperative relationship with the downstream major power groups. the landing of the order with Zhejiang Neng Group, on the one hand, can test the company's technical capability through the market. On the other hand, it can help the company to promote to the whole market.
3. The revenue of the company's main business has improved, and diversified business has brought about performance growth.
As a technology leader in the enamel industry, the company ploughs the enamel application field, the company's main business is obviously improved, the performance inflection point appears, the company increases the development of new business, layout hydrogen energy construction, actively develop new environmental protection dishes, the company is expected to 2019-2020 EPS of 0.51,0.90 yuan, corresponding to PE is 23.7 and 13.3 times, maintaining the "prudent recommendation" rating.
Risk hints: the risk of bad debts of accounts receivable; the risk of suspending listing; and the construction of rail transit is not as expected.