A leading provider of marketing information solutions. The company is a leading provider of marketing information solutions in China, mainly providing marketing information solutions with independent intellectual property rights to banking, insurance, manufacturing, commercial circulation and services, government and public utilities and other industries and fields.

With the change of marketing concept, marketing informatization has been widely used.

At present, marketing informationization has developed to marketing intelligence. Its typical feature is to use a large number of information technology to quickly implement the customer information and historical transaction records accumulated by enterprises for many years through databases and marketing models, so as to achieve the enterprise goal of greatly reducing advertising, store rent, time and manpower costs with half the effort, and increasing revenue and profits. The company is in the industry advanced level of independent research and development of core technology, in domestic and foreign markets have a large number of typical customers and successful cases.

Private offering to raise funds for the acquisition of Luan Century. Luan Century is committed to providing channel promotion and corresponding technical services for domestic television stations, including multimedia system services, channel viewing services and other services. At present, it is mainly aimed at high-end hotels and cable operators at home and abroad. It has successfully carried out channel promotion business in more than 3000 high-end hotels at home and abroad, mastered tens of thousands of hotel channel resources, and obtained the promotion authorization of 28 provincial television stations or channels across the country. After the merger and acquisition, the two sides will further strengthen the sharing of business resources, which will significantly increase the core competitiveness of listed companies.

Earnings forecast and valuation: we expect diluted EPS to be 1.43,2.25 and 2.73 yuan respectively from 2015 to 2017, with Luan Century included in the consolidated statements in 2016 and 2017. We give the company a PE60-63 times of 2016, with a corresponding price of 135-141.75, with a prudent recommended rating.

Risk tips: market competition risk, product and technology development risk, core technical personnel loss risk, profit decline risk