Key investment events: The wholly-owned subsidiary hopes to change its name to Silk Road Film and Television online, and has received pre-approval from the business administration department, making every effort to build an important platform for the content sector. Comment: Silk Road Film and Television is positioned as an important platform in the content sector. 1) The advantages of content specialization are obvious. By leveraging the advantages of red culture, western culture, silk road culture, etc., special content is produced. Among them, works such as “Shaanxi Gan Weiye” have created exclusive content for the platform; 2) The platform is rich in content. In addition to movies, TV dramas, documentaries, and web dramas shot by itself, it also introduces high-quality content from providers such as CCTV, Oriental Pearl, and Jebsen Co., Ltd., covering various forms of expression such as 4K, 3D, and VR. Strengthen the cultivation of the content industry and transform integrated media operations. 1) The company has obvious channel advantages. Based on the two-way network and wired and wireless integrated network construction, it can provide users with rich live channels, pay channels, and interactive on-demand; 2) Through the introduction of self-made content and tripartite content, with Silk Road Film as a starting point, the company is expected to cultivate the content industry into an important growth pole in the future and promote the company's transformation into an integrated media operator. Profit forecast: The company's 2016/17/18 EPS is expected to be 0.27/0.30/0.33 yuan, respectively, corresponding to the current stock price of 57/51/46 times PE. As an entry point for large screens that have not yet been internetted, the television screen will occupy the center of the living room entertainment industry. Cable TV companies with advantages in users, channels, and licenses are expected to use the construction of content platforms to usher in the possibility of revaluation and maintain “increased holding” ratings. Risk warning: The digitalization of cable television networks has fallen short of expectations; users may be lost due to the impact of IPTV/OTT.