Profit forecast and investment advice: we maintain our previous profit forecast. Revenue from 2016 to 2018 is expected to be 789 million yuan, 1.045 billion yuan and 1.389 billion yuan, respectively, with a corresponding year-on-year growth rate of 119.2%, 32.4% and 33.0%. The corresponding EPS is 0.34 yuan, 0.44 yuan and 0.58 yuan, and the PE corresponding to the closing price on the last day before the suspension is 62.4,48.1,36.9 times respectively. We are optimistic about the growth prospects of the company's online content and behavior audit and regulatory business, and maintain the "recommended" rating.

Risk hints: the investment intensity of mobile Internet supervision is not as strong as expected; the risk of integration after investment mergers and acquisitions; the risk of major asset restructuring.