Guide to this report: The company plans to complete the acquisition of remaining shares in Firstsee Technology, obtain high-quality game distribution channels, continue to strategically transform mobile games, and increase the layout of the entire game industry chain. It is expected to occupy and seize the market in the market segment where it excels in mobile games. Key investment points: Maintain an increase in holdings rating and raise the target price to 22 yuan. Considering the termination of the company's early acquisition program, we downgraded the company's 17/18 EPS from 0.79/0.95 to 0.49/0.62. Considering the company's rich product reserves in 17 and 18 and the recovery in the overall valuation of game industry leaders, we raised our target price to 22 yuan to maintain our holdings growth rating. Seeing the acquisition of remaining shares in technology for the first time, the advantages of R&D+channel were highlighted. The company plans to acquire the remaining shares in Chujian Technology, and incorporate high-quality game distribution channels into the company's map. Since entering the mobile game business in the magical era of mergers and acquisitions in 2014, the company has continued to expand its entertainment business layout through extension, and the merger and acquisition of GameiNetwork has completed coverage of all types of medium and heavy mobile games. The merger and acquisition first saw that technology has obtained high-quality distribution channels. The company has already established a framework for the entire mobile game industry chain, and the synergistic effects of various investment targets are expected to promote the efficient integration of the company's game sector business. Mobile games continue to be increased, and the economic benefits of the product are good. “Game+IP” reserves are expected to welcome new growth points. Various game products, such as “Attack on the Three Kingdoms,” “Runaway Dungeons,” and “Sacred Sword Contract,” which are currently operated by First Sight Technology, have achieved good economic benefits since their release, and are expected to continue to bring considerable revenue to the company in the future. The company continues to increase investment in distribution and R&D. At the same time, it has also stocked a large number of premium IP games such as “King of Heaven”, etc., focusing on the distribution and development of premium mobile game products. The injection of high-quality assets will greatly improve the consolidated reporting performance of listed companies and optimize the company's profitability. Risk warning: Policy risks, the progress of business integration, and the extent to which performance commitments have been fulfilled bring uncertainty