Event description: According to preliminary estimates by the financial department of Haobai Holdings, it is estimated that the company's net profit attributable to shareholders of listed companies in 2017 will increase by 220 million yuan to 240 million yuan compared with the same period last year (legal disclosure data), an increase of 1231% to 1343%; after the 2016 financial statements are restated, the net profit attributable to shareholders of listed companies in 2017 is expected to increase by 32 million yuan to 52 million yuan compared with the same period last year (data after restating), an increase of 152 million yuan to 52 million yuan over the same period last year. Incident evaluation: 1) New business was driven by a combination of new business and government subsidies, leading to excellent financial performance. The increase in the company's performance was mainly driven by two factors: one is that in 2017, No100 and its subsidiaries received a total of 65 million yuan in government subsidies; furthermore, due to the high profitability of the company's major asset injections after the restructuring of major assets, profit growth was mainly the profit of the four new video, gaming, reading and animation businesses. 2) Business sector expansion, diversified product development In 2017, the company acquired new business capabilities through restructuring. The current business mainly includes video, games, reading, animation, credit, business travel, hotels and other sectors. Many new sectors meet market pain points, and the horizontal layout of the enterprise business is developing rapidly. In different sectors, the company is supported by various products, and the company has now formed a perfect layout. 3) The financial data for multiple sectors is impressive. The rapid growth in the company's performance in 2017 is expected that video, games, reading, and animation are the company's emerging businesses, showing impressive performance in the growth of the company's financial data. We predict that these four major businesses will reach about 2 billion dollars in revenue in 2017. Based on the company's continued deep cultivation and impressive financial data, we are optimistic about the ability of these businesses to continue to drive the company's future development. Risk warning: the risk of fierce market competition; the development of the pan-entertainment business falls short of expectations