Event: The company released a performance report. In 2016, the company achieved total operating income of 2,798 billion yuan, an increase of 83.75% over the previous year; realized operating profit of 444 million yuan, an increase of 75.26% over the previous year; realized imputed net profit of 401 million yuan, an increase of 79.11% over the same period last year, and achieved an EPS of 0.69 yuan. Our view is that the company's performance has slightly exceeded expectations. The company's digital media group's strategic promotion has benefited from the merger of companies such as Shenzhen Lima and the steady progress of the digital media group strategy, and the company's performance has grown steadily. The company has become a digital communication group driven by the three wheels of digital marketing, digital outdoor, and digital equipment. It can provide customers with comprehensive online and offline marketing solutions covering brand PR, interactive activities, Internet advertising, outdoor advertising, and digital display equipment. The strategic layout of the company's digital media group in 2016 has basically completed the digital marketing business segments covering online and offline, namely brand PR marketing (Youtuo PR), interactive event marketing (Litang marketing), Internet marketing (Shenzhen Lima, precise audience), and offline scene big data (Shu Xiong Network) digital outdoor business segments will continue to integrate outdoor resources in the core business district. The company's own media area has reached 250,000 square meters. In the future, the company will continue to expand horizontally, increase outdoor media resources in major cities across the country, and improve the construction of a national media resource network. The digital equipment business sector maintained high endogenous growth. In the first three quarters of 2016, the company's digital equipment sector achieved consolidated revenue of 722 million yuan and net profit of 118 million yuan. Net profit increased 59.52% over the same period last year. In the future, it will continue to increase the promotion, sales and production capacity of large-pitch products and high-end rental products to maintain rapid endogenous growth. The issuance of 2 billion yuan of bonds provides funding support. It is expected that the 2017 group strategy will be further implemented, taking into account that the company has completed the layout of the three major digital media businesses. It is expected that in 2017, it will be implemented in detail in the three business modules of digital marketing, digital outdoor, and digital equipment, further enhancing the company's own scale, synergy, and brand influence. Maintaining the “buy” rating (1) issuing 2 billion yuan of bonds to provide funding support, and it is expected that the 2017 group strategy will be further implemented; (2) the company's management provides a safety cushion; 1. The main shareholders promise to reduce their holdings by no more than 27 yuan/share, and the maximum share reduction ratio is no more than 12%; 2. The company plans to use its own capital to repurchase the company's shares. The repurchase price of shares is no more than 25 yuan/share. The repurchase of shares is about 9.6 million shares, accounting for 1.56% of the company's total issued share capital so far, with a total capital of no more than 2.4 billion yuan; (3) We expect the company's EPS in 2017 and 2018 to be 0.94 yuan and 1.32 yuan respectively, and the corresponding PE is 25X and 18X, respectively. Give the company a target price of 30 yuan.