Sinoma Energy Saving Co., Ltd. is a specialized energy saving company engaged in comprehensive utilization of waste heat and waste pressure under Sinoma Group. Its main core technology is low temperature waste heat power generation, and it is the leading comprehensive service provider for waste heat power generation in the industry. The country strongly advocates energy saving and emission reduction. The prospects for the waste heat power generation industry are promising. As an “energy saving and emission reduction” industry strongly advocated by the state, the waste heat power generation engineering technology service industry has always received encouragement, support and great attention from the national industrial policy, and is in line with the national policy on saving resources, protecting the environment and sustainable development. It is estimated that by 2015, the domestic cement industry will have about 720 production lines that need to be equipped with waste heat power plants, and the overall market size is about 28.5 billion yuan. Based on the overall carrying capacity of existing waste heat power generation engineering service companies, the domestic cement industry's waste heat power generation market is expected to have more than 5 years of development room. Energy efficiency: Sinoma has a stable leading position in the industry, and has expanded its business in multiple directions as of 2012. Based on the number of cement production lines equipped with waste heat power generation, the company's market share is 22.95%, ranking first in the industry. The company provides a variety of business models, including E, EP, EPC, BOOT, EMC, etc., and has good profits at home and abroad. At the same time, the company not only serves the cement industry, but also successfully applies waste heat power generation technology to industries such as steel, chemicals, metallurgy, glass and other building materials. The company's performance declined in 2012 and 2013, mainly because basic industries such as downstream cement and steel were affected by the country's macroeconomic factors and poor overseas business development in Turkey and Libya. As contracts signed in 2013 are executed in 2014 and revenue is generated, the company's performance is expected to rise. At the same time, the company plans to make full use of this offering to raise capital to invest in innovative business models such as EMC and BOOT, which is expected to provide a strong guarantee for the company's continued profit growth. Profit forecast We expect the company's 2014-2016 revenue to be 11.08, 11.67, and 1,234 billion yuan, up 4.51%, 5.38%, and 5.71% year on year. Net profit attributable to the parent company was 1.21, 1.37, and 145.7 million yuan, up 33.3%, 12.9%, and 5.7% year on year. Comparable companies had an average valuation of 28 times in 2014. Driving factors The introduction of national policies on energy saving and emission reduction, which raises the risk of increased installation orders in downstream industries, suggests dependency risks on downstream industries, such as cement, glass, steel, etc., the operating risks of the BOOT/EMC business model, and overseas business risks