Abstract: Through intensive work on sales channels, the company's performance has always been in a stage of steady growth. At the same time, it has abundant cash flow, extremely low balance ratio, and strong ability to withstand risks. In 2016, the company completed its first non-public offering since listing, raised 336 million yuan in capital to invest in the construction of additional production capacity to meet today's massive market demand. At present, the new production capacity has been gradually put into operation, which can increase the company's product production by about 70%. We expect that with the gradual release of additional production capacity, it will bring significant growth to the company's sales performance. The company and Evergrande have carried out multi-party cooperation to achieve a win-win situation. In March of this year, the company and Guangzhou Evergrande Material Equipment Co., Ltd. signed the “2017 Integrated Ceiling (Aluminum Gusset) Purchase and Sale Contract”. The total contract amount is tentatively set at 500 million yuan. According to rough calculations, this business could increase the company's operating income by about 27% this year. In addition, the company plans to invest 300 million yuan of its own capital to join Rui Can Investment and indirectly participate in Evergrande Real Estate's targeted capital increase. It is expected to obtain about 0.13% of Evergrande's shares after the expansion of Evergrande's shares. According to information currently published by the market, it is possible to obtain an annual investment return of more than 8%. Evergrande is a well-known enterprise in China's real estate industry. The company has obvious advantages in the integrated ceiling industry. The in-depth cooperation between the two sides helps consolidate and develop the company's sales channels and increase product popularity. Profit forecast: We forecast that the company's 2017-2019 EPS will be 2.48 yuan, 3.32 yuan and 4.81 yuan respectively, and the corresponding dynamic price-earnings ratios will be 23.2 times, 17.3 times and 12.0 times, respectively, giving the company a “increase in holdings” rating. Risk warning: 1) market risk; 2) policy risk.