Report summary: Demand in the LNG market is growing rapidly, and the company is expected to become a leader in the LNG distribution industry. Low gas prices and the recovery in oil prices have made the economy of LNG apparent. At the same time, the government is vigorously promoting “coal-to-gas” projects in key cities and “oil-to-gas” projects in the transportation sector, which is also driving rapid growth in demand in the LNG market. In the future, the company will continue to replicate Sinopec's Qingdao LNG terminal cooperation model and undertake LNG distribution work for Sinopec's Beihai and Tianjin LNG terminals. The Beihai LNG terminal has now been successfully built and is expected to become a new source of increased performance in 2017. The company leverages its advantages in the logistics field, explores market demand, and develops natural gas terminal applications, and is expected to become a leader in the LNG logistics distribution industry. Increase the transportation of hazardous chemicals and increase the added value of the industry. Since 2015, the company has taken the initiative to optimize stray freight capacity and increase the scale of hazardous chemicals. Due to the high threshold of the hazardous chemicals transportation industry, the company has dangerous goods transportation qualifications and rich industry experience, and is expected to give full play to its competitive advantage and increase market share and added value of the industry. Lay out an intelligent logistics and information-based market platform. At the same time, the company established Yuntong Zhi'an to actively develop an intelligent security management and control platform, and set up a technology to build a “resource-capacity” informatization market platform. Increased investment in informatization will help the company further integrate resources and capacity, improve the efficiency of the company's own vehicle fleet operation, and is also expected to improve the logistics industry's ability to integrate resources. Investment suggestions: Considering that the company is a scarce target in LNG distribution and hazardous chemical logistics, it is expected to rely on Sinopec to achieve off-site expansion in the future and is expected to become the leading domestic LNG distribution leader. At the same time, the company's information market platform is conducive to the company's future integration of resources and capacity in the logistics industry. The 2017-2019 EPS is expected to be 0.7 yuan, 0.93 yuan, and 1.33 yuan respectively, giving a purchase rating. Risk warning: risk of falling oil prices, cooperation with Sinopec falling short of expectations; risk of safety accidents involving cargo transportation and hazardous chemicals