Investment points The traditional main business of leading companies in the vacuum permanent magnet switch industry is R&D, production and sales of electrical switches and complete equipment, and permanent magnet switch products are the main source of the company's revenue. The company is a leading enterprise in the domestic vacuum permanent magnet switch industry, and the permanent magnet market share it produces has exceeded 20%. The company has more than 30 patents in the permanent magnet switch industry, and many products have reached industry and international leadership levels. The Ping An Department participating in Fushun Bank became a major shareholder. In 2014, the Banking Regulatory Commission approved the company to transfer 9.28% of Fushun Bank's shares, which quickly became the largest shareholder of Fushun Bank. Participating banks can help the company implement diversified development and enter a new beginning in the company's financial layout. On the other hand, China Ping An Group holds Huiyin Rifeng through an asset management plan through a subsidiary of its Ping Anhua Fund Company through an asset management plan and spent 2.15 billion yuan to transfer 100 million shares of Lu Yongxiang, the former majority shareholder of the company, to become the company's major shareholder. Entering Internet finance and acquiring more than 3 billion dollars in mergers and acquisitions, Beijing Haike Rongtong, in addition to traditional switching business and participating banks, established the company Yongda Innovation to enter the big data field and licensed insurance, and actively promoted diversified layouts. Recently, the company plans to raise 3 billion dollars to acquire Beijing Haike Rongtong Company through the issuance of shares and targeted additional offerings. Haike Rongtong's third-party payment and Internet lending platform business will facilitate synergy in the company's financial sector. Haike Rongtong's performance promises of 200 million dollars in 2016, 240 million in 2017, and 360 million dollars in 2018 It has an obvious thickening effect. Profit forecasts and ratings We are optimistic that the company's diversified development and financial layout will bring about performance growth and revaluation. We expect the company's EPS in 2015, 2016, and 2017 to be 0.20, 0.47, and 0.60 yuan. The corresponding PE is 123.5, 53.5, and 42.2, which gave the company a rating of increasing holdings. Risk suggests industry competition is fierce, and company integration falls short of expectations