Adhering to its excellent technical genes, the company is an excellent domestic CNC winding equipment leader. The company originated in Tanaka, Japan, the originator of wire winders established in 1933. Its high-end wire winding machine product indicators significantly lead the market in terms of precision, winding speed, stability and yield, and have been praised by well-known international customers for making “the world's number one” wire winding equipment. Demand for wireless charging has exploded, and wire-wound devices have ushered in a new growth cycle to solve the pain point of insufficient battery life. The wireless charging market penetration rate is expected to increase from 18% now to 60% in 2020, and the compound growth rate of terminal shipments with wireless charging functions will exceed 50% in the next three years. With advantages in cost, charging efficiency, and heat generation control, the wiring scheme is expected to become the mainstream technology for wireless charging in the future. As a leader in CNC winding equipment, the company is expected to be the first to receive large orders from core customers. At the same time, as the demand for the winding process for products such as fast charging and iPads from major customers continues to increase, the company's wire winding equipment will usher in rapid growth. The subsidiary Yuanyang Xiangrui's main products are glass carving equipment. Benefiting from the trend of double glass solutions for mobile phone covers, the core product of COSCO Xiangrui is a glass carving machine. In the future, the mainstream uses double-sided glass solutions to lead the overall mobile phone design innovation trend. After leading brands, leading domestic brands such as HOV will use double-sided glass solutions in high-end flagship machines to stimulate demand for glass processing equipment. COSCO products meet market demand and are expected to usher in rapid performance growth. The company promised net profit of not less than 0.65/0.85/107 million yuan in 2017-2019, which is expected to be successfully completed. The new general manager of the company's “buy” rating company has taken office, and the rejuvenation of the management will further stimulate the company's motivation to grow bigger and stronger. The plan is to acquire 45% of COSCO Xiangrui's shares and is expected to issue a new share capital of 5.76 million shares. After the issuance is completed, the company is preparing to examine a total share capital of 76.54 million shares. The company is expected to prepare a net profit of 46/227/316 million in 2017-2019, corresponding to EPS 0.65/2.95/4.10 yuan, and dynamic PE 98/22/16X. The company has good growth, and the downstream industry is booming, giving it a “buy” rating. Risk warning. The risk that demand for downstream consumer electronics terminals will not meet expectations; the risk that the company's internal management efficiency will not meet expectations.