The main investment is to acquire financial services, divestment of the main cement business, and the complete transformation of the main cement business. In recent years, the downward pressure on China's macroeconomic economy has increased, the growth rate of fixed asset investment and real estate investment has continued to decline, demand in the cement industry is weak, and production capacity is overcapacity. It is hard to say that the economy is improving. In February 2015, the company announced that it plans to acquire the shares of five types of financial companies held by 46 clients including Xinli Investment in cash, including 55.83% of Dexin Microfinance's shares, 100% of Dexin Guarantee, 68.86% of Dehe Pawn's shares, 60.75% of Derun Leasing's shares, and 67.5% of Dezhong Finance's shares, with a total acquisition amount of 1,683 billion yuan. The financial services industry will be the company's future strategic development direction. On April 7, 2016, the company changed its name from “Anhui Chaodong Cement Co., Ltd.” to “Anhui Xinli Financial Co., Ltd.” Financial services are managed in a unique way and developed collaboratively. After divesting the cement business, the company transformed into a financial control platform. It owns five types of financial companies: Dexin Guarantee, Derun Leasing, Deshan Microfinance, Dehe Pawn, and Dezhong Finance, all of which have a certain competitive advantage in Anhui Province. Among them, Dexin Guarantee's main business since its establishment has been a financial guarantee business, and has developed into a stable and commercial professional guarantee agency known in the region; since its establishment, Dehe Pawn has mainly provided pawnbroking services such as real estate mortgage pawnbrokers and property rights pledge pawns, and the region has steadily ranked at the forefront of the same industry; Derun Leasing has become one of the fastest growing, most efficient, regional coverage and largest financial leasing institutions in the same industry in Anhui Province. All of its platforms are fully licensed and developed collaboratively, and it is expected that there will be plenty of room for growth. Acquire Haike Rongtong and enter third party payments. In September 2016, the company announced that it plans to acquire 100% of Haike Rongtong's shares with 2.38 billion yuan and enter the third-party payment field. Haike Rongtong's existing bank card billing business forms an important part of the company's main business. In 2015, the company's transaction scale exceeded 100 billion yuan, ranking first in the industry. Third-party payment companies have channel and data advantages. After the acquisition of Haike Rongtong, Xinli Financial Services will enter a broader level of layout, opening up room for imagination in the future. There is significant synergy between Xinli Finance's original business and Haike Rongtong's third-party payment business. Xinli Financial's original leasing, small loans and other financial services have significant synergies with Haike Rongtong's third-party payment business, mainly in terms of channels and business: on the channel side, Xinli Financial's original business is characterized by rural financial services, and its advantages are concentrated in third- and fourth-tier cities and rural markets, while Haike Finance's business is distributed in large and medium-sized commercial cities across the country. Both parties can use each other's channels to quickly expand their own business; on the business side, Haike Rongtong's third-party payment business has accumulated a large amount of financial data, which can effectively help customers screen related financial services and high-quality financial services Develop innovative businesses. In the future, the integration of the two will help Xinli build a broader financial services ecosystem. The investment proposal suggests that Xinli Finance also has the state-owned background of a supply and marketing agency in Anhui Province, a listed company platform, and full license advantages in five sub-industries. The acquisition of Haike Rongtong has entered the field of Internet finance and further improved the financial services ecosystem. Without considering the performance of Haike Finance, the net profit for 2016-2018 is estimated at 1.8/2.4/300 million yuan; after considering the 2016-2018 exam, the net profit for the 2016-2018 exam is 2.8/4.35/570 million yuan. After considering the increase in distribution, the current market value is about 13.3 billion yuan. The corresponding PE for 16-18 is 47, 30, and 23 times, giving it a “recommended” rating.