Wenders of Science and Technology Board Inquiry Report (688178)

Wenders of Science and Technology Board Inquiry Report (688178)
The company’s main business is an overall environmental solution, which mainly includes garbage pollution reduction, garbage pollution repair, and difficult wastewater treatment.At the same time, commissioned operation is also one of the company’s main businesses. This type of business is to provide customers with management, operation and maintenance services of waste pollution and water pollution treatment facilities in certain operating entities in accordance with customer requirements. Leakage pollution requires urgent breakthroughs in new technologies.Landfill leakage is one of the main sources of groundwater pollution. The existing conventional leakage treatment uses the “biochemical + membrane separation” process. Among the membrane treatment technologies are ultrafiltration, nanofiltration and reverse osmosis membranes.The problem of concentrated liquid treatment has become a “problem” problem of reducing the source of pollution in landfills. The practice of backfilling landfills with membrane concentrates will cause continuous accumulation of pollutants in the landfill, increasing the risk of landfill pollution and subsequent penetrationDifficulty of repair.Landfill leachate is a fully quantified treatment technology, which can achieve a highly efficient, economical, and stable treatment of hard-to-degrade organic critical, which has attracted widespread attention from researchers at home and abroad.Restrictions on the widespread use of the highest-end technologies require technical breakthroughs. China’s waste pollution remediation is lagging behind.At present, conventional landfill treatment technologies generally only cover aspects such as top cover and greening, leakage and rainwater inversion, and the lack of prevention, control, and repair methods for the main pollution pathways (underground pollution) of the landfill seriously threaten the safety of groundwater and drinking waterAnd human health.At present, certain research results have been accumulated in aspects such as lower layer media and size space characterization, migration migration, release and release of low-permeability layers, repair materials and equipment.With the international advanced level indicators, as well as in the core technology of remediation of contaminated sites, materials and equipment and management decisions are still lagging behind.With the further upgrading of the national thirteenth five-year plan for the construction of innocuous treatment facilities for urban domestic waste, the existing domestic waste landfill will enter a large-scale closure stage, and the market for waste pollution remediation will usher in a huge market. The market scale of highly difficult wastewater treatment has reached 100 billion yuan.According to the Global and Chinese Industrial Wastewater Treatment Industry Development Report released by GEP Research, from the perspective of regional distribution, the global industrial waste water market demand is mainly concentrated in the United States, China, the European Union, Japan and other regions.About 368 billion, of which the United States is about 100 billion, accounting for 27 of the world’s total.2%, ranking first; China is about 88.9 billion, accounting for 24% of the world’s total.2%, ranked second.  The growth of China’s industrial wastewater treatment industry market size in 20175.44%, through the battle against water pollution prevention, it is expected that the investment in industrial wastewater treatment will continue to grow, and the compound annual growth rate of the industrial wastewater treatment industry market will remain at about 5% in the next three years. GEP Research predicts that by 2020, China’s industrial wastewaterThe processing industry market size will reach 1,024.500 million yuan. The company’s three major environmental protection companies have core technologies.In the field of waste pollution treatment and water pollution treatment, the company has mastered internal mature technology integration processes including biological treatment processes, physical and chemical treatment processes, membrane treatment processes, and MVR evaporation treatment processes. In terms of waste pollution treatment, the company developedThe key technology and application of the prevention and control of groundwater pollution system and enhancement and repair of buried sites “are leading in the industry, and have won the second prize of National Science and Technology Progress. In terms of water pollution treatment, through the integration of various treatment processes, on the basis of meeting discharge standards.In the past, the company has been able to recycle salt and achieve the effect of “near zero emissions”. Profit forecast: We predict that the company’s net profit attributable to the owners of the parent company will be 92.48 million yuan, 119.58 million yuan and 132.57 million yuan in 2019-2021. Based on the 85 million 杭州桑拿 shares after issuance, the company’s EPS will be 1.11 yuan, 1.41 yuan and 1.56 yuan.As the company will further focus on core businesses such as waste pollution reduction and repair business, high-density wastewater treatment business, the company’s performance growth has also continued.Therefore, we recommend using the PE relative estimation method to select the comparative company’s average market earnings in 2019 instead of 13.92 times, the corresponding company’s sustainability should be 15.31 yuan / share, corresponding to the company’s total market size of 13.01 trillion, it is recommended that the company’s inquiry range is 13.01-16.91 yuan / share. Risk reminders: 1) the risk of high receivables; 2) the risk of lower gross profit margin.