Key points of investment: The company's announcement issued additional documents approved by the Securities Regulatory Commission: The company received a notice from the Securities Regulatory Commission on March 26 that its issuance of shares and payment of cash to purchase assets and raise supporting funds were approved by the Securities Regulatory Commission. The approval is valid for 12 months. Traditional enterprises enter the Internet marketing industry. The company started with traditional polyurethane foam polyether materials. The management was enterprising and actively transitioning across industries. It completed an additional acquisition of the Internet marketing company Shanghai Xinhe in July last year, with an additional offer price of 26.4 yuan/share, for a total of 1.19 billion yuan. This additional issue acquires all of the shares of the Internet marketing companies Shanghai Jichuang and Shanghai Lindong. The shares were exchanged for 970 million yuan, and the issue price was 58.4 yuan. At the same time, the ancillary financing did not exceed 1.23 billion yuan. After the additional issuance is completed, the actual controller of the company has a shareholding ratio of 31% and has a controlling interest. Outreach goals are clear, and all businesses are organically integrated. Although the three targets of the company's acquisition, Shanghai Xinhe, Shanghai Jichuang, and Shanghai Lindong belong to the same Internet marketing field, their respective business characteristics are different, and the synergy effect is obvious after the acquisition is completed. Meanwhile, the founder of Shanghai Xinhe, Mr. Qi Haiying, has been in the advertising industry for many years as the founder of Tencin Co., Ltd., and will play an important role in the company's development in the future. Maintain an increase in holdings rating and maintain profit forecasts. Exam preparation performance is expected to exceed expectations, and valuation advantages are evident. The company acquired Shanghai Xinhe and promised net profit of 100 million yuan, 130 million yuan and 150 million yuan in 15-17, while Shanghai Xinhe actually achieved performance of 128 million yuan in 2015, exceeding the promised performance. As the main chemical industry achieved losses in 2015, Shanghai Xinhe merged in the second half of the year, and the company's performance and net profit reached 29 million yuan in 2015. After this additional acquisition is successfully completed, the company's net profit for 16-17 will reach 270 million yuan and 340 million yuan, with a market value of 12.3 billion yuan for exam preparation. In view of the fact that this additional issue has not yet been completed and the results have not yet been combined, we maintain the company's 16-17 EPS of 1.09 and 1.23 yuan, and maintain the increase in holdings rating...