Investment highlights: First coverage, target price: 38.85 yuan: King Kong Glass was originally a leading security glass company. Now, it plans to purchase assets through the issuance of shares and invest in new value increases to raise supporting capital from Mr. Luo Weiguang and others. Mr. Luo Weiguang will become the actual controller, and OMG Singapore will invest 100% of its shares in the listed company. OMG's main business is to provide peer-to-peer multimedia transmission solutions (CDN services), and the capital raised will be used for the construction of downstream scenario application projects such as Wi-Fi controllers, virtual reality (VR), augmented reality (AR), and big data analysis. Our judgment is that King Kong Glass may be revived. Regardless of the issuance of shares, the 2015-2017 EPS is 0.10, 0.13, and 0.18 yuan. Referring to the 2016 industry's comparable valuation and premium, the target price is 38.85 yuan, giving it an “increase in holdings” rating. OMG Singapore, leading independent technology, market position advantages: The main business is to provide peer-to-peer multimedia transmission solutions (CDN services). The main products include the OMG media operating platform, OMG set-top boxes, and intelligent high-speed caching systems. Its core technology OVstream and Overlay CDN technology are ahead of their peers, which can help customers save more bandwidth under the same circumstances. In the future, with the construction of fund-raising projects, it may be extended to downstream scenarios, including Wi-Fi controllers, virtual reality (VR) and augmented reality (AR), large data analysis, etc. We have determined that OMG assets are expected to obtain a license and expand business in China after investing in a publicly traded company. Security glass leaders may enter a period of steady growth: King Kong originally used security glass as a source of profit, with a market share of more than half. The industry has actually entered a period of stability, and the future catalyst for traditional business is the introduction of new standards for fire prevention in buildings. Risk warning: OMG Singapore's performance falls short of promises, investment failure, etc.