The strategic layout of mobile games was launched, and the first battle was temporarily blocked. Judging from the target of the acquisition, Langma positioned itself as having poor performance in the first half of the year, focusing on mobile resale licenses in the third quarter, focusing on mobile resale licenses in the third quarter, and focusing on the “Take Me Online” report summary in the second half of the year: Langma's acquisition of “Blue Port Online” failed, and mobile game expansion was blocked for the time being, but the company's intention to expand the mobile game industry became apparent. Langma announced that it plans to acquire “Blue Port Online” through private issuance and cash. The two sides finally terminated negotiations due to certain differences in the transaction price, transaction structure, and transaction plan of the underlying assets. Langman suspended trading on July 4 due to plans to acquire the mobile game company “Blue Port Online”, and resumed trading on August 2. We believe that this contact with “Blue Port Online” is viewed as a matter of great importance by Langma in the field of rival games. Langma's profit for the first half of the year fell year on year, lower than expected. Langma Information's revenue for the first half of the year was 83 million yuan, up 15.6% year on year; net profit was 34 million yuan, down 9% year on year. Net operating cash flow was 16 million yuan, a decrease of 30% over the same period last year. The growth rate of the peer-to-peer business slowed in the second quarter. As of the second quarter, the number of peer-to-peer members reached 2.69 million, an increase of 8.5% over the end of last year; at the same time, the Phone+ promotion expenses increased dramatically, and the company's sales expenses ratio increased by 5 points, resulting in poor net profit data. Langma has already applied for materials related to mobile resale licenses, and we expect the first batch of lists to be announced by the end of August. Langma's mobile internet strategy differentiates itself from the giants and has the ability to innovate. The Langma report has disclosed the company's declared materials. Mobile resale licenses are important to Langma's information, and can enhance a better user experience for communication & social services such as Phone+ and PvP. Facing the cross-border market of communications and the Internet, television media and Internet media, the company is fully deploying businesses such as Phone+, LanTV Media and iTouch, video shows, mobile games, and mobile communications resale. I have been optimistic about Langma's executive team for a long time and still maintain a “buy” rating. In view of the reconsideration of the full-year revenue growth rate of the contact business, we have lowered the company's profit forecast. If the stock price is adjusted due to the interim report falling short of expectations, then Langma will now be a rare investment opportunity.