Specialized energy-saving service providers: The core technology is low-temperature waste heat power generation, mainly engaged in waste heat power generation project investment, technology development, engineering design and consulting, system integration and complete equipment, project construction management and general engineering contracting, and carrying out contract energy management, and providing clean development plans and technical advice. It can customize the best waste heat utilization technology plan for customers with a flexible business model according to the different needs of domestic and foreign customers. Rich project experience: The company has rich project experience, based in the field of waste heat power generation in the cement industry. Since 2007, it has rapidly entered the international market. Currently, it has designed and equipped low-temperature waste heat power generation systems for nearly 300 cement kiln production lines at home and abroad. In addition, the company has successfully applied waste heat power generation technology to the steel, chemical, non-ferrous metals, glass and other building materials industries, and has built more than 20 projects (more than 30 production lines) since its establishment. Enjoy the fruits of industry development: In recent years, the country's promotion of energy saving and environmental protection has continued to increase, and introduced a series of policies to support the development of waste heat power generation and energy saving and environmental protection industries, effectively stimulating industry demand. China's cement industry still has a lot of market space for waste heat power generation. In terms of overseas markets, in addition to Japan, South Korea, Thailand, and Taiwan, the penetration rate of cement waste heat power generation in other major developing countries and some countries in Central Europe is very low, and the international cement waste heat power generation market also has huge potential for development. In addition, with the full development of energy saving and environmental protection plans, the energy saving and waste heat power generation business market in the non-cement industry is growing rapidly, which will also provide huge opportunities for the company to further expand its business areas. Investment advice: Not considering the acquisition of shares in Nantong Boiler. The company's EPS from 2014 to 2016 is expected to be 0.27 yuan, 0.31 yuan, and 0.33 yuan respectively. Compared with the optional company Tianhou for energy savings, we think the company's reasonable price range is 5.4 yuan to 6.7 yuan, and the recommended inquiry range is 3.2 yuan to 4.3 yuan. Risk warning: macroeconomic downside risks, overseas business risks, risks associated with the acquisition of Nantong boilers, etc.