Experts in smart electricity and energy efficiency management enter new energy. Jiuzhou Electric is a well-known domestic supplier of complete intelligent electrical equipment and a provider of energy efficiency management solutions for power supply and distribution. The competitive environment in the traditional power equipment industry has deteriorated in recent years, and the company has taken a different approach through resource integration to enter the new energy wind power and photovoltaic industry. Join hands with China Power Investment to begin the integration of new energy assets. The controlling shareholder of the company cooperated with two second-tier enterprises under the China Electric Power Investment Group to establish an industrial investment fund with the intention of jointly integrating new energy assets based on its deep industrial operation background and rich industrial investment experience. This move is expected to be a critical driving force in the company's future development. Lay out lead-carbon super batteries and target the energy storage market. The company has successively cooperated strategically with Harbin Institute of Technology and the Tailai County Government. A joint laboratory was set up with the former to develop the application of lead-carbon super batteries in the field of power and energy storage to enhance the company's technical level and R&D capabilities in this field; it is expected to invest 500 million yuan in energy storage projects, with an estimated investment of 500 million yuan, 120 MWH of power, and 30 MW of capacity. This move will serve as a model for the company to promote lead-carbon energy storage technology on a large scale. Determined to become an important participant in the energy internet. Thanks to its 20 years of R&D, manufacturing and operation experience in the fields of batteries, power quality management, high and low voltage frequency conversion, etc., the company has successfully entered the new energy generation side; it also has development potential in the fields of energy storage, charging, and electricity sales. The company is arranging core links such as the distribution, distribution, sale, and use of the energy Internet in an orderly manner, and will become an important participant in the energy Internet market in the future. Haocheng Electric and EPC/BT turnkey helped grow performance. With the gradual increase in the capacity utilization rate of the company's traditional power equipment business and the recovery of accounts receivable, combined with Haocheng Electric's 16-year performance promise of 45 million yuan, it is expected that the traditional main business will grow slightly. The company's new energy EPC/BT project orders exceeded 2 billion yuan in 2016, and are expected to contribute nearly 100 million yuan in net profit that year, and the company's annual performance will increase dramatically. Equity incentives demonstrate the company's confidence in future development. On December 18, 2015, the company granted restricted shares to 81 incentive recipients at a price of 6.62 yuan, totaling 7.676 million shares, and an employee coverage rate of 8.72%. According to the terms of reference, the company's deducted non-net profit from 15-17 was not less than 30 million, 100 million, or 200 million (can be accumulated). This move effectively combines the interests of employees with the company's operations to protect the achievement of performance goals. Profit forecasting and ratings. The company is an intelligent electrical equipment manufacturer that has successfully entered the field of new energy. By joining hands with China Power Investment and laying out lead-carbon superbatteries, we aim at the new energy and energy storage markets, and aim to become an important participant in the energy Internet. The company's traditional business is expected to grow slightly in 2016, and New Energy EPC/BT turnkey and Haocheng Electric helped reverse performance. EPS is expected to be 0.34 yuan, 0.52 yuan, and 0.68 yuan respectively in 16-18. According to the industry average valuation, 32 times PE for 17 years will be given, and the target price will be 16.64 yuan, maintaining the purchase rating.