Event: Acquisition of Beijing Fairyland Network Technology Co., Ltd. to lay out mobile internet lottery. The company announced on March 5 that it will transfer the controlling interest in Fairyland, and that the specific share transfer ratio is subject to further negotiations. Beijing Wonderland Network achieved operating income of 43.02 million yuan and net profit of 4.43 million yuan in 2013. Fairyland Network has good business partnerships with the three major operators, and has channel advantages. Beijing Fairyland Network Technology is a technology company based on the mobile Internet and engaged in mobile application development, operation and promotion. China Unicom Wo Store launched the “Wo Lottery” developed by the company on February 26, 2014, and was downloaded more than 60,000 times within 5 days. Wo Lottery is a professional lottery betting software officially authorized by Fucai and Sports Lottery. You can purchase various types of lottery tickets from Fucai and Sports Lottery. It has the characteristics of easy recharge and timely rewards. Since Wonderland has a good cooperative relationship with the three major operators, it has a natural channel advantage in mobile app distribution and promotion. The three major operators are likely to promote through mobile phone pre-installation, the potential number of customers can reach 100 million, and it has strong user expansion capabilities. Continuous acquisitions. Companies that have completed the three major resource, technology, and channel layouts have previously announced that they will acquire Shanghai Liangcai and Shanghai Haoxuan Company. Among them, Shanghai Liangcai has good cooperative relationships with National Lottery and Sports Lottery organizations, while Shanghai Haoxuan has advanced soccer lottery filtering technology. After this acquisition of Fairyland, the wholesale sales advantages of Shanghai Liangcai can be used to quickly increase lottery ticket sales and achieve collaboration in the lottery industry chain. Through this acquisition, the company initially established a mobile Internet lottery industry chain, thus establishing the three advantages of resources, technology and channels. The profit forecast and valuation estimate that the company's EPS from 2013 to 2015 will be -0.59, 0.24, and 0.41 yuan/share, respectively, corresponding to 49 times and 28 times PE from 2014 to 2015, respectively. The risk suggests that the introduction of national lottery-related policies fell short of expectations; marketing promotion fell short of expectations.