Investment event: The company announced its 2016 three-quarter report. The company achieved revenue of 64.888 million yuan in the first three quarters, an increase of 61.32% over the previous year; profit attributable to the parent company was 50.3679 million yuan, an increase of 22.96% over the previous year. Report Summary: The company's multiple business lines have exploded, and endogenous growth is driving rapid growth. The rapid growth in the company's performance in the first three quarters benefited from the explosion of the three business lines of financial information business, e-commerce, and mobile commerce services. The smart printer, a new product in the financial information technology business, has been widely recognized by the market. The high increase in sales volume of smart printers during the reporting period led to a sharp increase in financial informatization business revenue. Kean Digital, a holding subsidiary of the company, mainly deals in the cross-border e-commerce business of smart home security products. The business maintained a rapid growth trend in the first three quarters. The mobile commerce service business provided by Yimei Softcom was stable and good during the reporting period. Driven by the rapid growth of the three major business lines, the company's performance showed an explosive growth trend. The revenue growth rate reached 61.32%, and the profit growth rate to mother was 22.96%. The company's operating efficiency has improved significantly: ROE has increased, and management fees have been significantly reduced. The company's weighted ROE for the first three quarters was 5.48%, up 0.65 percentage points year on year, and the weighted ROE for the third quarter was 3.82%, up 0.23 percentage points year on year. Since 2015, the company has had no epitaxial mergers and acquisitions, so the increase in ROE is mainly due to the improvement of the company's operating efficiency. The company's management rate for the first three quarters of 2016 was 13.48%, compared to 17.19% in the same period last year, a year-on-year decrease of 3.71 percentage points. The significant reduction in management rates is also good evidence of the company's improved operating efficiency. The strategic layout of the integrated financial services platform is progressing steadily. The company's new strategy is dedicated to building a comprehensive financial service platform based on financial IT, credit reporting, big data, and payments. Financial IT is one of the company's dominant businesses. In terms of credit reporting, the first batch of Huadao Credit Reporting, a subsidiary of the company, was shortlisted in the “List of Agencies Carrying Out Preparation Work for Personal Credit Reporting Services”. In terms of big data, the company not only obtained mobile big data resources and big data analysis capabilities through the acquisition of Yimei Softcom, but also actively deployed bank big data platforms. In terms of payments, the company is developing new types of payment services such as next-generation mobile payments to public and personal payments, and interbank internet fast payment platforms. In terms of financial qualifications, Yian Insurance, a subsidiary of the company, has been approved by the Banking Regulatory Commission, and Anke Life Insurance and East Asia Qianhai Securities are in the process of applying. The company actively lays out a comprehensive financial service platform strategy, and the new strategy is progressing steadily. Investment advice: The company expects the 2016/2017/2018 EPS to be 0.17/0.24/0.31 yuan, corresponding to PE147.92/104.01/82.87 times, giving it an “increase in wealth” rating. Risk warning: The promotion of new products falls short of expectations, and there is a risk that financial licenses will not be approved