Investment points: The target price is 10.45 yuan, and for the first time, coverage is given a prudent increase in holdings rating. While strengthening the traditional home furnishing business, the company gradually lays out smart homes and Internet homes using the major household industry as carriers to achieve a combination of overall home improvement and intelligent living. At the same time, the company has set up a clean energy industry fund and entered the LNG clean energy field through acquisitions, opening up a second main business. We forecast the company's EPS for 2015/2016 to be 0.03/0.13 yuan respectively (after considering the acquisition of Shaanxi Luyuan, the EPS forecast for 2015/2016 is 0.07/0.20 yuan), and the target price is 10.45 yuan. For the first time, coverage was given a cautious increase in holdings rating. The company's traditional home furnishing business deepens the “home integration+internet+smart home” model. Changes in the consumption structure and marketing model of the home furnishing industry have spawned the rise of smart homes and Internet homes. This has brought new opportunities and challenges to the company's development. The company has set up a smart Internet home industry merger and acquisition fund, built a new industrial platform, combined with traditional advantageous marketing models, and combined overall home improvement with intelligent life. Clean energy is being deployed ahead of schedule, and the main industries of wooden household products and clean energy are being developed with equal emphasis. The company has expanded its clean energy business since 2013, and the implementation of the acquisition of Luyuan in Shaanxi will make substantial progress in the strategic plan of “placing equal emphasis on the development of wooden household products and clean energy”. It is expected that the company's performance will increase dramatically, and it will truly be driven by two main businesses. The company will add two LNG plants and four LNG filling stations to the LNG industry chain, further improving the company's layout in the LNG industry chain. Set up Shengda Xinao Clean Energy Industry Fund to promote a dual business strategy. Industrial mergers and acquisitions funds provide a platform for companies to integrate the natural gas industry and improve their professionalism in decision-making and operation. The company has the right to prioritize acquisition targets and promote the company's expansion and strengthening within the clean energy industry. Xinao Fund's main investment area covers clean energy and is highly specialized. Risk warning: competitive risk in traditional home business; risk of low market recognition for LNG business.