Signed a strategic cooperation agreement: Furui installed an announcement and signed a strategic cooperation framework agreement with Hualing Xingma, and reached a strategic partnership on a one-stop solution for China's LNG vehicle industry equipment. The cooperation between the two sides will form complementary advantages and will have a positive impact on Furui equipment's performance. The LNG heavy truck is a key promotion product of Valin Xingma. In April 2013, Valin Xingma and China Petroleum Jinhong signed an agreement to jointly develop the LNG heavy truck market. The strategic cooperation framework between Valin Xingma and Furuiz equipment will solve the problem of its LNG heavy-card gas supply system, LNG refueling stations, and LNG storage equipment. Although Hualing Xingma's heavy truck sales in 2012 ranked third in the industry, the company’s LNG heavy trucks accounted for a relatively high percentage. The top quality of Furui installed LNG products will increase the market share and sales of Hualing Xingma LNG heavy trucks; The Furui equipment will use the Hualing Xingma LNG heavy truck to account for a relatively high advantage to increase the sales volume and market share of LNG cylinders, LNG refueling stations, LNG storage and transportation equipment, etc. It is expected that this cooperation will benefit Furui. The long-term performance of special equipment has a positive impact. It is expected that the 2013 business performance will continue to grow rapidly. Our main reason for the company's 2013 high performance growth is that: 1. LNG cylinders and gas stations benefit from the industry's high economic climate will continue to maintain a rapid growth; 2. LNG liquefaction plant and "An Yi Xun" sufficient orders will ensure this Significant increase in the sales volume of two products; 3. It is expected that the remanufacturing business of new product LNG engines will contribute to the performance; 4. The implementation of the National Four Standards will accelerate the pace of LNG heavy trucks replacing fuel heavy trucks and further enhance the industry boom. Investment advice: Continue to firmly optimistic about the company's development prospects, maintain the "buy" rating. We expect the company's 2013-2015 EPS to be 1.52 yuan, 2.21 yuan, and 3.02 yuan, respectively, and the corresponding PEs are 49X, 34X, and 25X. The LNG industry has huge room for growth. Furui's management is diligent and pragmatic, with a strategic and strategic layout of products and markets. There is a large market for existing products and reserve products, and the LNG equipment industry chain is perfect. We tend to think that the company has the potential to become a big company in the LNG industry. As for the green recycling economy and the practitioners of the beautiful China, we believe that the company should enjoy a reasonable valuation premium, continue to firmly optimistic about the company's development prospects, and maintain a “buy†rating. Ceiling Fans,Cross Flow Fan,Elevator Switch Shanghai Mengtenali Drive Equipment Co.,Ltd , http://www.monadrive.com