Zhejiang is the world's leading public into high-quality manufacturers and POF shrink film POF shrink film domestic total outstanding packaging solutions provider. Product quality has reached international advanced level, the market share of the first and second worldwide, channels mature, and accumulated more than 1,500 high-quality customers. We believe that the company's future growth will come mainly from two aspects: 1, steady growth in domestic consumption, POF shrink film industry will benefit from the upgrading of consumption of packaging materials. 2, the company's equipment to master the core R & D capabilities, is expected to make progress on other new products, laying long-term growth. Broad application areas, to benefit from expanding domestic demand and consumer upgrades. POF shrink film applications extensive travel, mainly used in various types of food, beverages, daily necessities and other small products, a collection of light packaging. Forward wall of plastic packaging materials, light direction, POF shrink film and other materials, the product performance, become the most popular heat shrink packaging materials, the market prospect is broad. The next 3 years, the global POF shrink film market will remain around 6.2% growth rate, China will maintain an average annual growth rate of 13.4%. Technology, scale leading competitive advantages highlighted. POF shrink film industry supply focused, market demand dispersion, with higher channel barriers. The scale of the world's second company, the first, only the company's domestic counterparts scale 1 / 3, the gap is huge. Targeting high-end products to reach international advanced level. The first in China to develop cross-linked POF shrink film high-end products, firmly occupy the domestic high-end market. Film sophistication of the equipment, performance and cost of the film are significant. In the core advantages of the device far ahead of domestic enterprises, some performance has exceeded foreign counterparts of similar equipment. Reasonable value of the interval 31.5-35 million. We expect the public as Zhejiang from 2010 to 2012 EPS was 0.710 yuan, 0.8 yuan and 1.01 yuan. We selected five A shares listed on the packaging industry as well as three listed companies in the valuation of foreign competitors and comparable 5 A-share listed company in 2009 was 50.13 times PE, PE in 2010 to 47.18 times the dynamic, taking into account the company POF shrink film industry in the competitive advantage, we offer 45-50 times the company in 2010 dynamic PE, corresponding to the reasonable value of the interval 31.5-35 million. Key risks: Exchange rate fluctuations in international crude oil prices may affect the profitability of the company's products; economic recovery than expected and may affect the company's product sales; the risk of loss of key technical staff.

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