Matters: Jinya Technology Announcement: The holding subsidiary Shenzhen Risensi Technology Co., Ltd. and Dongguan Yuanfeng Technology Co., Ltd. signed a “Procurement Framework Agreement”. Yuanfeng Technology will purchase 1.8 million capacitive touch screens from Risensi in 2014, with an estimated amount of 100 million yuan. Comment: The touch screen received a large order, helping to contribute to next year's results and a sizable profit scale. The current order is 1.8 million capacitive touch screens. Although it includes G+G and OGS structures, the OGS structure is the main one. Resens' single-layer multi-point OGS products lead the industry in technology, and single-exposure etching achieves multi-touch functionality. Therefore, the net interest rate level will be slightly higher. Estimated at a net interest rate of 8%, contributing 8 million yuan in net profit, which is expected to account for 18% of the profit ratio in 2014. Subsequent orders are released, and the 2014 performance is expected to grow at a high level. After relocating to the new factory, production capacity has been further increased. The first batch of production lines with a monthly output of 500,000 tablets is already in place. After the second batch of production lines is in place, the monthly production capacity will reach 1 million tablets. If production is at full capacity, the annual revenue will exceed 600 million yuan. This large order indicates that Risensi's single-layer multi-point OGS has gradually gained market recognition, and it is expected that it will receive more large orders in the future, helping to increase its performance next year. Maintaining the “careful recommendation” rating, maintaining the company's 2013-15 EPS forecast is 0.06/0.17/0.21 yuan, corresponding PE is 152/50/41 times. We believe: (1) After the company launches an equity incentive plan, performance will grow rapidly. The profit CAGR for 2014-16 is expected to be 65.5%, and growth is relatively certain; (2) after the company's transformation to consumer electronics, game-themed OTT boxes have begun to be sold, and the touch screen business is also gradually recognized by the market, and is expected to contribute to performance in 2014; (3) external expansion is expected Bigger breakthroughs, and the acquisition of Narutsuru Meiwa are just the beginning. We can look forward to more sophisticated mergers and acquisitions in the game industry chain. Therefore, we are optimistic about the company's long-term development prospects and maintain a “careful recommendation” rating.