The company is a leading aluminum profile enterprise in the Haixi sector, mainly engaged in the design, development, production and sales of various aluminum profile products. The company's products can be divided into construction aluminum profiles and industrial aluminum profiles according to their application fields. Construction aluminum profiles are mainly used in various civil and commercial construction fields, while industrial aluminum profiles are mainly used in industrial fields such as transportation, durable consumption, and machinery and equipment. The company's current production capacity is about 40,000-42,000 tons/year, mainly domestic sales. From January to June 2013, more than 80% of the company's revenue came from domestic business. From January to June 2013, the company achieved total operating income of 496 million yuan, an increase of 14.56% over the same period last year; realized net profit attributable to shareholders of listed companies was 23.36 million yuan, an increase of 12.71% compared with the same period last year. The company's interim performance was better than market expectations, as the company's production capacity increased and product sales increased, so the company's performance continued to maintain a year-on-year growth trend. By changing the construction of extruder production equipment for fund-raising projects, the company has increased investment in industrial aluminum profiles, and is striving to develop in the direction of high-definition and environmentally friendly industrial aluminum profiles. Judging from the company's conversion of production lines for fund-raising projects, the company should focus on the production and application of industrial profiles. The difference in production technology between industrial profiles and construction profiles is mainly reflected in the fact that industrial profiles require higher product accuracy, and the yield is lower than that of construction profiles, so the sales profit margin of industrial profile products is higher than that of construction profiles. We consider factors such as the current stage of the company and the future development of the industry, and from the analysis of changing factors such as the company's production capacity expansion, production increase, market application and development trends, etc., it is estimated that the company's profit growth points will eventually come from the gradual commissioning of fund-raising projects. It is predicted that in 2013 and 2014, the company will achieve operating income of 1,168 and 1,324 million yuan, net profit attributable to the parent company is 47 and 54 million yuan, and the EPS is 0.28 and 0.32 yuan respectively. The corresponding P/E is 45x and 39x, giving the company a careful “increase in holding” rating for the first time.