Performance is in line with expectations, and epitaxial development has helped increase performance. In the first half of 2016, the company achieved operating income of 515.6 million yuan, an increase of 31.39% over the previous year, and net profit attributable to shareholders of listed companies of 63.2 million yuan, an increase of 36.91% over the previous year. The company's IT industry achieved revenue of 402 million yuan, an increase of 29.20% over the previous year, and the environmental protection business achieved revenue of 106 million yuan, an increase of 38.33% over the previous year. Kejiang Information, which was acquired by the company in August 2015, achieved operating income of 56 million yuan and net profit of 1.26 million yuan in the first half of 2016. The integration of epitaxial extensions was smooth, and continued to help the company's performance grow. At the same time, the company announced that it plans to jointly invest with Zhejiang University Wangxin and Junbao Communications to increase the capital of Hangzhou Quchain Technology Co., Ltd. The company plans to invest 5 million yuan, accounting for 10% of Quchain Technology's registered capital after the capital increase, to lay out the underlying blockchain technology. The financial IT business is developing steadily, and the Internet and mobile devices “go hand in hand”. The company actively upgraded traditional financial IT business and achieved both technological and business breakthroughs in business such as process banking, electronic banking, video files, and bank risk management. In the Internet finance business, the company has achieved diversified innovation, successfully developed products in the fields of bank credit reporting, asset transactions, etc., and enriched the business structure. On the mobile side, the company relied on the “Blue Interactive” brand of “Kejiang Information” and the “Weijiang” platform to enter the mobile finance field, connect with the company's banking business development bank mobile client and online shopping mall, and extend the original business. The company's multi-point layout in the financial IT field has basically achieved full coverage of financial IT business, formed a comprehensive financial ecosystem, and has great card position advantages. Acquired GoldNet Antai and traded cards over the counter. Jinwang Antai is a leading enterprise in China's commodity e-commerce industry. It is positioned for OTC trading, and OTC exchanges have a market share of about 30%. The Zongyihui App, owned by Goldnet Antai, has been launched on more than 100 exchanges, providing financial information and quotation data for C-side users, and providing functions such as redirecting account opening and trading. Currently, there are 3 million registered users and 400,000 daily active users. The company's recent acquisition of Jinwang Antai will aim to connect the company's original bank IT business with Jinwang Antai's OTC trading system business, build a supply chain finance cloud platform with the bank resources it has accumulated over many years with Zong Yihui's massive transaction data, and start a business model for monetizing traffic. The acquisition of Goldnet Antai is an important part of the company's overall Fintech layout. It will greatly enhance the company's performance, give full play to synergy, and promote the transformation and upgrading of the company's business. Investment advice: The smooth integration of the company's epitaxial extension will continue to help the company's performance grow. The company's multi-point layout in the financial IT field has basically achieved full coverage of financial IT business, formed a comprehensive financial ecosystem, and has great card position advantages. The recent acquisition of Goldnet Antai is an important part of the company's overall Fintech layout. The card OTC exchange will create a supply chain finance cloud platform and launch a business model for monetizing traffic. The company's EPS for 2016-2017 is expected to be 0.40 yuan and 0.55 yuan respectively, maintaining a “buy-A” rating, and the target price for 6 months is 30 yuan. Risk warning: Industrial integration falls short of expectations; financial IT business development falls short of expectations