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Dinos Environmental is a leading manufacturer of plate denitrification catalysts in China. According to the Frost & Sullivan report, for the year ending December 31, 2014, the company is the third largest plate denitrification catalyst manufacturer in China in terms of production capacity, with a market share of about 17.5%; in terms of output, the company is the fourth largest plate denitrification catalyst manufacturer in China, with an output of 8,380 cubic meters and a market share of 12.6%; based on the total revenue of Chinese plate denitrification catalysts, the company is the fourth largest manufacturer of plate denitrification catalysts, with sales revenue of RMB 217.1 million and a market share of 15%.

The company mainly provides services for China's coal-fired power generation industry. China's coal-fired power generation industry is limited by the world's strictest denitrification emission requirements, providing important development opportunities for the company. In 2009-2014, demand for plate denitrification catalysts for coal-fired power plants increased from 4,400 cubic meters to 75,000 cubic meters, with a compound annual growth rate of 76.3%. Demand for plate denitrification catalysts is expected to reach 171,400 cubic meters in 2019, with a compound annual growth rate of around 18% from 2014 to 2019. According to the prospectus, Dinos Environmental's net profit for the year ended December 31, 2014 was 73.5 million yuan. Assuming no excess allotment rights were used, the prospectus price corresponds to the price-earnings ratio of 11.73 times to 16.2 times in 2014, and the predicted net market ratio for 2015 was 1.98 to 2.32 times. The valuation is low, so it is recommended to participate in the subscription.