Investment event: The company acquired 49% of Mijian Information's shares by issuing shares and paying cash, at a total price of $201.88 million, of which $161.504 million was paid in the form of shares and RMB 43.376 million in cash. After the transaction was completed, the company held a total of 100% of Mijian Information's shares. Report summary: Controlling 100% of Mijian Information's shares, the development of medical informatization business is accelerating, and there is support for increased performance. In September 2015, the company acquired 51% of Mijian Information's shares for 128 million yuan. Within one year, the company acquired the remaining 49% of the shares, and Mijian Information became a wholly-owned subsidiary. Mijian Information focuses on intelligent integrated cloud platforms and clinical information system business. The company has core independent intellectual property rights in segmented industries such as operating room anesthesia, emergency first aid, and intensive medicine clinical information systems, effectively enriches the Group's CIS product line, and has enabled Rongke's marketing network to cover Shanghai, southwest China, northwest China and other places to accelerate the development of medical informatization business. Furthermore, Mijian Information promised to achieve net profit of no less than 23 million yuan, 031 million yuan, and 41 million yuan respectively in 2016-2018, while the company's net profit from the mother in 2015 was about 500 million yuan. In the future, Mijian Information's profit will significantly improve the company's performance. The medical informatization strategy is clear, and the implementation of the strategy is progressing steadily. The company made it clear that the clinical application segment business, data platform business, and health big data platform O2O business are the three major implementation drivers of the company's smart medical strategy. In the field of clinical application segmentation, the company has successfully developed hemodialysis systems and nursing resource planning systems through endogenous methods, and acquired Mijian Information, which has high-quality products, through external expansion; in the data platform business, the company has implemented projects such as telemedicine platforms and unified hospital information platforms. In terms of health big data platforms, the company undertakes national science and technology support projects, and has launched businesses such as community health huts and regional testing centers. The company's smart medical strategy has been implemented smoothly, and the process has been carried out in an orderly manner. The king in the field of regional big data helps advance smart medical strategies. The company is an absolute leader in the field of big data centers in Northeast China, with a market share of more than 10%. The company's data platform business and health big data platform O2O business require strong data center support. The company's advantages in the field of big data centers will help the development of medical informatization business, and the business synergy effect is obvious. Investment advice: The company expects EPS of 0.24/0.34/0.42 yuan in 2016/2017/2018, corresponding to PE 60.00/42.51/34.82 times, to maintain the “increased holdings” rating. Risk warning: The development of the medical informatization industry is slowing down, and the promotion of new business falls short of expectations