45.5 million yuan to acquire 51% of Shanghai Jiapeng Culture's shares. On September 19, the company announced that it signed an agreement with Hu Yanjiong, Zhang Ying, and Ms. Cao Yixi to purchase 51% of their shares in Shanghai Jiapeng Culture Communication Co., Ltd. (45.5 million yuan). Yueqing Fengyu Steady Education Industry Equity Investment Fund Partnership (limited partnership) plans to purchase 15% of Shanghai Jiapeng Culture Communication Co., Ltd. (13.25 million yuan). Jiapeng Culture promised that the net profit for 2017/18/19 will not be less than 9 million/10 million/11 million yuan. Shanghai Jiapeng Culture: Comprehensive development of children aged 2-6 in the context of international education. Currently, it has four directly managed kindergartens in Shanghai. The company has core resources for early childhood education, an excellent teaching system and rich management talents. Specifically, for infants aged 0-3: the company hires domestic and foreign professionals to create teaching aids and introduces advanced and complete curriculum content from abroad; ② kindergartens aged 3-6: provide advanced international bilingual courses and adopt a spiraling teaching structure; ③ Featured courses for 3-12 year olds: building development in education market management and development, specialized consulting services, etc. ① On the financial side, as of August 31, 2016, Jiapeng Culture had total assets of 10.7595 million yuan, net assets of 8.8992 million yuan, revenue of 6.1321 million yuan and net profit of 4.476,800 yuan in January-August 2016. Improving the education service ecosystem, the company confirmed and laid out the education industry starting in 2015, making it clear that the education industry will develop as the second main business. It has now completed the acquisition of Shanghai Yali Education. On the one hand, Jia Fan Culture has also invested in various education targets. The entrance to early childhood education is to lay out the preschool education and preschool education ecosystem. In the future, the company will continue to accelerate mergers and acquisitions in the education industry, especially in the fields of international education and preschool education, as well as the integration and mergers of upstream and downstream communication industries in these two fields. On the other hand, Jiapeng Culture has many mature and well-operated kindergartens in Shanghai. While consolidating the company's education industry foundation, it helps the company gradually develop and improve the entire education ecosystem industry chain from preschool education to international high schools and studying abroad. The first coverage put pressure on the purchase rating of explosion-proof electrical equipment for mining, which is the main business of Electro-optic Technology, and the boom continues to decline. With the current acquisition of Jiafan Culture, the company will use Jiapeng Culture to open up the entrance to early childhood education and lay out the preschool education ecosystem. In the future, the company will continue to accelerate mergers and acquisitions in the education industry, especially in the fields of international education and preschool education, and the integration and acquisition of upstream and downstream communication industries in these two fields. We expect the company's 16-18 EPS to be 0.14 yuan, 0.18 yuan, and 0.22 yuan respectively, and the corresponding PE will be 133 times, 107 times, and 88 times, respectively, giving a purchase rating. Risk warning: The progress of the education industry layout is lower than expected.