Key investment points: The company will benefit from the upgrading of commercial vehicle emission technology: the four national standards will be implemented on July 1, 2013. After implementation, China's commercial vehicles will complete the emission technology upgrade. The fuel injection products produced by the company are the main products that meet the four national standards in the future. There is plenty of room for market share growth in the future. They will fully benefit from the upgrading of emission technology, and are expected to form an oligopoly in the future. The company's high-pressure common rail technology is the core of fuel injection upgrades. WAPS products are a useful complement: the company's high-pressure common rail technology is the main fuel injection technology that meets the four national standards in the future, and other alternatives are difficult to promote domestically. The company's participating company, Bosch Diesel, is the only domestic enterprise with a complete high-voltage common rail industry chain. Localization and self-production will reduce the company's costs. In the fuel injection market segment, the WAPS products produced by the company will be a useful complement to high-pressure common rails, forming an advantageous combination product with high-pressure common rails. Exhaust gas treatment systems are a major highlight of future growth: Currently, the company's exhaust treatment systems are mainly gasoline engine converter products. In the context of strict implementation in the future, diesel engine converters (SCR) will be installed on diesel engines, and there is room for growth. At present, SCR products have experienced a long period of industrialization and popularity in Europe. After the implementation of the four national standards, diesel engines will form a high-pressure common rail+SCR combination product in the market, and Weifu Hi-Tech will fully benefit from the expansion of the SCR scale of diesel engines. For the first time, attention was paid and a neutral rating was given. The target price is HK$34.20: The company is a leading producer of diesel engine products, leading the industry in terms of technology and customer advantages. In the context of national four technology upgrades, the company's market size is expected to grow significantly. The PE valuation gave a target price of HK$34.20, equivalent to 15 times PE in 2013, with room for an increase of 10.67% from the current price