The core idea is to acquire Bus Online and transform the media and Internet sector. The company transformed the media and Internet sector in 2015 due to limited space in its main business industry. In May 2015, the company announced that it would acquire 100% of Bus Online's shares through “issue of shares and payment of cash”, with a transaction amount of 1,685 million yuan; at the same time, it would issue 29 million shares to Tianji Investment, raising 344 million yuan in supporting capital; the issue prices were all 1,186 yuan/share. From 2015 to 2017, Bus Online promised net profit attributable to shareholders of the parent company of 100 million yuan, 150 million yuan and 200 million yuan respectively. After the acquisition was completed, Tianji Investment held 20.03% of the shares and was still the controlling shareholder of the company. Bus Holdings and co-actors held 12.91% of the shares in the listed company. For the first time, we covered the “buy” investment rating given to Xinjialian. Based on: (1) Bus Online resource endowments, Bus Online was founded in 2003 and is China's leading new media company that has operated the largest bus mobile TV platform in China for over 10 years through cooperation with CCTV. Currently, the company's media network covers 142 cities, 160,000 buses, 210,000 LCD screens, and 200 million people every day. The company holds the only national broadcasting license and has obtained program production rights for non-CCTV content; (2) consolidates traditional business, and the traditional advertising business is expected to grow at a compound rate of 18% over the next four years; (3) content innovation (I shoot, I play) has become the company's new growth, and the compound growth over the 15-18 years of I shoot and play is expected to reach 77%. (4) We estimate the company's operating income in 2015, 2016 and 2017 to be 150 million, 660 million and 81 million respectively, with year-on-year growth rates of 29.43%, 340.22% and 22.27%, respectively, and net profit of 56 million, 137 million and 177 million, respectively. For the first time, it covered the investment rating given to Xinjialian “buy” and gave the 2017 PE70X valuation. The corresponding target market value is 12.39 billion yuan, and the corresponding target price is 41.4 yuan. Currently, there is room for 19% increase in stock prices. Scarce resources and a further downturn in the company's Internet strategy will trigger a further rise in stock prices.