Investment points: We believe that Langma Information can be defined as a (communication+mobile internet+entertainment) company, a mobile internet company with strong resource integration capabilities. We judge that Langma's focus is on the mobile Internet, with the intention of building a mobile internet platform (Bee Plus and Ai Touch). Through cross-media channels such as mobile screens, TV screens, PC screens, etc., it integrates more content and communication functions such as entertainment, talent shows, games, etc., to attract listed customers. Once again, the executives of Langma Information are one of the few teams with Internet genes in A-share companies. In the unprecedented wave of information consumption in China, they are constantly experimenting with various business models and product forms, and are expected to seize opportunities again and again Report Summary: Langvision Media is expected to create a new talent show model integrating TV and mobile apps and the Internet: According to the August 6 company announcement, it can be seen that Langma Information will rely on the LanTV Media platform, use the Internet mindset and entertainment model, and use the resources of the TV platform. Benefit-sharing and operation of a variety television program, and collaboration between mobile and PC terminals, is expected to become another innovative model for Marang Information (Cross-media entertainment). Lanvision Media will make it possible to achieve true integration of information consumption: media integration, port integration, consumer group integration, resource (models, etc.) integration, and functional integration. Consumer integration: Integrate TV program viewers with users who love to touch and support our network, spread with each other, and form resonance. Integrate the functions of Bee Plus with Ai Touch. For example, Bee Plus's invisible message function may be incorporated into iTouch's interactive social networking sessions. Player resources can interact healthily between the three screens to increase mutual popularity. Social video “keep a low profile to make a lot of money”: The industry segment is beginning to take shape. The revenue of the social video industry reached 2.2 billion in 2012 and is expected to reach 3.17 billion in the full year of 2013. It is estimated that the size of the social video industry will reach 10.1 billion in 2016. Among the existing video show websites, the annual revenue of six houses was 300 million yuan, while the revenue of industry leader 9158 reached 1 billion yuan in 2012. Risk warning: Competition: Video sites such as Tudou and Sohu have begun to enter the video show industry; Langma Information's ability to operate in the entertainment field needs market verification.