Spent 1.2 billion dollars to acquire Taiyi Zhishang to enter big data marketing. The company issued an announcement to acquire 100% of Taiyi Zhishang's shares through a combination of issuing shares and making cash payments. After the transaction is completed, the company's main business will gradually expand from the processing and sale of textiles, steel pipes, etc. to the field of big data and Internet business, which is expected to form a diversified business structure of “traditional industry+big data+Internet”. Supply-side reforms benefit high-quality enterprises, and traditional businesses are expected to benefit. Serious overcapacity in some industries has become a major obstacle to improving the quality and efficiency of China's economy and stabilizing and improving. “Removing production capacity” was first proposed and placed first. The printing and dyeing industry is one of them. In addition, the G20 summit will be held in Hangzhou in September, and the control of environmentally polluting enterprises in Hangzhou and surrounding areas has been strengthened. Small, highly polluting printing and dyeing factories have been shut down one after another, and orders are concentrated on large printing and dyeing enterprises with high environmental standards. Furthermore, since March 1, printing and dyeing enterprises in Shaoxing have increased processing fees by 5%-20%, and the company's textile printing and dyeing revenue and profit margins are expected to increase. Big data marketing is developing rapidly, and “Internet +” Dongfeng helps. With the rise of the “Internet +” trend, many traditional products have moved from offline to online, and marketing has become an essential demand. On the one hand, “Internet +” has brought about significant growth on the demand side, and on the other hand, it has enriched data sources, making it easy to build larger and more complete databases. With the further spread of smart phones, the Internet habits of netizens have also changed. The number of mobile Internet users is increasing year by year, and the online advertising industry is also focusing on mobile devices. The multiple screens of smart devices complement each other, and consumer behavior presents characteristics from “holistic” to “fragmented”, promoting further precision in the marketing industry. Cross-screen marketing has become a major trend in the industry. Taiyi always advocates: taking advantage of the first-mover advantage, innovation stands out from the crowd. Judging from the time dimension, Taiyi pointed out that they are still the first group of researchers and experience accumulators to carry out big data research and technology development in China, and the first-mover advantage is prominent. Taiyi indicates that Shang Shang's business capabilities and big data technology are in a leading position in China. In 2014, it launched the country's first cross-network multi-screen programmatic purchasing platform. In the context of the diversification of users' Internet access methods and time fragmentation, Taiyi pointed out that it has become a leader in the field of cross-screen marketing, which can help it stand out among many domestic big data marketing service companies, maintain highly accurate and effective marketing services, and seize market share. Valuation and ratings: We expect the company's 2016-2018 EPS to be 0.27 yuan, 0.39 yuan, and 0.48 yuan respectively, and the average of the 2016 unanimous forecast for the Shenwan three-level printing and dyeing industry is 37 times. Considering the company's new business development, we think it is reasonable to give the company a valuation of 50 times in 2016, corresponding to the target price of 13.5 yuan. First coverage, giving a “buy” rating. Risk warning: the risk that the performance of the merger and acquisition company will not meet or fall short of promises; the risk that the integration of multiple businesses will fall short of expectations; the risk that the original main business will continue to be sluggish.