I know I talk about wanting to write about Dutech part 2 in my previous post. However, CIMB released the initiation report and I thought there is no point writing about it since a lot of information can be derived from it. However, it has come to my attention that they have recently ceased coverage. Q1 2017 Results Net profit was down due to steel price increasing for high security segment, higher administrative and selling expense incurred by Metrics and increase in R&D expense. But I would think this is a decent set of result as increase in R&D expense is setting the sight on future revenue growth and improving on future competitive position. In the latest annual report, 22 new patents were awarded to Dutech. I look forward to more new patents in the coming years.

Metrics	RMB – Mil
Revenue	77.20
COGS – Estimated to be ...

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