The company used to be the banner of Fujian's reform and opening up, and the parent company's assets have the potential to appreciate. The company's predecessor was the first Sino-foreign joint venture in the electronics industry in the country. In recent years, it has been set to further expand and strengthen the three main industries, including communications and smart home appliances, LED optoelectronics and green energy environmental protection, domestic and foreign trade supply chain business, and optimize the development layout of the TMT industry through a combination of endogenous growth and epitaxial expansion, and actively pay attention to the development opportunities of next-generation information technology in the TMT industry. In addition, the company holds more than 10 million shares of Huaying Technology, 9.1 million shares of Cathay Pacific Junan, and other holding participating companies, with a total value of more than 820 million. First, the merger and acquisition of Sino-Norwegian Communications has increased the concentration of the mobile phone industry. Beneficiaries: Sino-Norwegian Communications has promised performance of 100 million and 1.2 billion in the past 2 years, making it the top four in the smart terminal ODM industry. In the mobile phone industry, smartphone shipments account for 65%. Meanwhile, the share of domestic mobile phone brands has continued to rise, reaching about 40% by 2014, while 1,000 yuan smart phones account for more than half of the demand. ODM manufacturers dominate this market, and the industry's potential profit scale is 10 billion yuan/year. Currently, the industry is in the consolidation stage. Sino-Norwegian will benefit from this trend and is expected to increase its market share in recent years. Second, the LED business is growing rapidly: The company acquired Malui Optoelectronics and Yuanlei Technology to complete the layout of the LED display and chip packaging fields. In the future, it can be expected to integrate the Group's LED chip business and complete the construction of the entire industry chain. LED displays and chip packaging promised to be attributed to listed companies with 52 million results in 2015. Currently, they are all in the phase of increasing capital and expanding production, and there is a high degree of certainty about future growth. Third, with strategic shareholding in information technology investment funds, state-owned enterprise reform can be expected. In July 2014, the Fujian Provincial Government issued the “Notice on the Implementation Plan for Further Improving the Work of Institutional Mechanisms to Promote Industrial Development”, which sounded the trumpet for the reform of state-owned enterprises in Fujian. In March 2015, the company plans to issue 75.55 million shares privately. In addition to the majority shareholder Electronic Information Group subscribed to 76 million yuan, Fujian Next-Generation Information Technology Venture Capital Co., Ltd. also subscribed to 190 million yuan and will become the company's strategic investor; the venture capital enterprise has total assets of 456 million yuan and was established with the participation of the Fujian Provincial Financial Venture Capital Fund. It mainly plays an industry-leading role of capital and guides social capital investment into the next-generation information technology industry in Fujian. Participating in the additional distribution of Furi Electronics as a strategic investor also reflects their optimism about the future development of Furi Electronics. If the investment proposal deducts the parent company's original net assets and saleable equity investment, the impact of additional issuance is not taken into account. Currently, the actual valuation of the company is about 22 times, and expectations for future state-owned enterprise reform and epitaxial expansion of the next-generation information technology industry have not been taken into account. Maintain a “buy” rating. The targeted distribution process for venture companies was blocked; the customer structure of downstream brands in the smartphone industry underwent major changes