The company terminated commercial retail business and concentrated resources to develop gas business. The company announced that the commercial retail business will be terminated, and the company's main business will change from the dual main business of “urban pipeline gas and retail commerce” to the single main business of “urban pipeline gas”. In the future, it will carry out preservation and value-added management of commercial assets through external leasing and commissioned operations, which will help concentrate human and financial resources to develop the gas business and provide financial support for it. The first IDC distributed energy project was launched and is highly replicable. The company and Deyang Xinrun Investment Consulting Co., Ltd. initiated the establishment of Datong Ruiheng (95.24% of the company's shares) to be responsible for the development of the company's energy business. Chase Ruiheng plans to acquire 100% of Shanghai Huanchuan's shares in Shanghai Huanchuan, which is owned by Chengdu Ruishi, a shareholding company of the company. Shanghai Huanchuan is the investment and operator of the distributed energy project for Haijiading IDC on the Guanghuan New Network. The project is expected to be put into operation by the end of 2016. The significance of this acquisition is four: (1) the company's first project to enter distributed energy; (2) Aura New Network is a leading IDC enterprise, and the project is a benchmark project in the IDC field; (3) the project is the first project of Ruishi, an industrial merger and acquisition fund set up by the company, and successfully merged into a listed company. It is expected that this model will continue to be replicated in the future; (4) the company has set up an energy business platform company, which is expected to introduce more partners and expand energy projects through various channels (not limited to Inruishi Management). Overall, the project is highly replicable, and it is expected that more distributed projects such as IDC will be launched. The distributed natural gas project was released quickly, and the company was a high-quality and highly flexible target. After the price of natural gas was lowered, distributed natural gas is already economical, and with the relaxation of internet/grid-connected policies, it has begun to expand in fields such as data centers, hotels, hospitals, and airports. Recently, many environmental protection companies have laid out the distributed natural gas field as the main direction of their transformation. It is expected that more listed companies will enter this field. This year and next year may be the year for the rapid release of orders for distributed natural gas projects. The company's small market capitalization (4.476 billion yuan), low balance ratio (17%), and high performance elasticity (net profit from gas assets in 15 years was about 56.42 million yuan) are indicators of the high quality and flexibility of distributed natural gas. Additional issues target management interests and give them a “buy” rating. The 2016-18 EPS is expected to be 0.12, 0.23, and 0.36 yuan, respectively. The continuous increase in the majority shareholders' holding ratio provides space for subsequent capital operations, and employee shareholding locks in the core interests of management. It is expected that distributed natural gas projects will continue to be replicated and given a “buy” rating. Risk warning: Project progress falls short of expectations, new orders fall short of expectations