Investment points: The company's laser display light source advantages and the network and resource advantages of the IDC industry chain are obvious. The scarce laser display and IDC business volume in A-shares is imminent. Look clearly at the summary of the 30 billion market value report: The exclusive advantages of laser display light sources create a laser display moat. The company has been reserving in the field of laser light sources for many years, and has invested in the construction of the world's first mass-produced laser display light source production line in Mianyang. The strategic cooperation with NEC in Japan has locked in the company's leading edge in the industry. Downstream laser cinemas and entertainment shows are in high demand. The establishment of a financial leasing company by the company will accelerate the release of laser projection products, target the cinema and performing arts market in the short term, and lock in the commercial machine market for a long time. We believe that full attention should be paid to the industry moat brought about by the company's leading global laser light source. “Resources+network advantage” creates a large IDC industry platform and positions global cost depressions and high value areas. The company's two core strengths in the IDC business are Ordos's low resource costs and the advantages of the backbone network that is being built gradually. From the perspective of electricity costs, in the future, Ordos will supply electricity directly to cloud computing centers in Kengkou. Electricity costs can be the lowest in the country, and the cost advantages brought about by energy advantages cannot be ignored. The “Ordos-Beijing” optical cable is expected to be completed within 16 years. The optical cable will be built simultaneously with the oil pipeline. At the same time, in terms of future cable maintenance, it will enjoy a later guarantee of joint maintenance with the oil pipeline. At the same time, the company is laying out an autonomous and controllable transmission network that can reach developed regions of the country. The “resource+transmission network” advantage will form the company's long-term moat and create an exclusive advantage in the IDC industry. Maintain the “buy” rating and raise the target price! We are strongly optimistic about the company's exclusive advantages in the field of laser display and cloud computing. In terms of valuation, we give the company a market value of 10 billion yuan for the laser business and 20 billion yuan for the IDC business, and an overall market value of 30 billion yuan. We strongly recommend embracing the growth dividends brought about by the downstream laser display and IDC business explosion. The estimated EPS for 2015-2017 is 0.40,0.90,1.60 yuan, raising the target price to 100 yuan, corresponding to a market value of 30 billion yuan!