Event description The company released its 2017 semi-annual report, achieving revenue of 133 million yuan, an increase of 15.17%, net profit of 6.1093 million yuan, an increase of 147.05%, and basic earnings per share of 0.0664 yuan/share, an increase of 146.84%. Among them, the parent company achieved revenue of 92.8565 million yuan, accounting for 69.87% of total revenue; the Harbin subsidiary achieved operating income of 32.716,600 yuan, accounting for 24.62% of total revenue. Incidents review product innovation and upgrading to build core competitiveness; increase marketing and publicity efforts, and establish a brand image. In the first half of the year, the company improved the interactivity and viewing effectiveness of core performance products, while also increasing marketing efforts. Both passenger traffic and sales revenue increased in the first half of 2017, leading to an increase in main business revenue. The technology export project in Huai'an achieved service revenue, which increased revenue in the first half of 2017. The company has a wide range of technology export and management export projects. The Wuhu Xinhualian Moby Whale Sea World and Huai'an White Whale World Water Park projects were put into trial operation on September 26, 2016 and May 28, 2017. The Moby Dick World Family Entertainment Center project is currently managed and exported by the company. Currently, 38 companies have been opened, plus more than 10 large-scale tourism projects under construction and preparation, covering more than 40 cities across the country. The company's fifth-generation ocean park products will fully enter the construction period in 2017, with layout cities including Hainan, Xiamen, Zhenjiang, Wuxi, Hangzhou, Qiandao Lake, and Kunming. Gross margin increased by 4.61 pct to 50,35%; period expense ratio increased by 2.41 pct to 41.20%. Among them, management expenses also increased by 36.59% to 35.35 million yuan, and the management expense ratio increased by 4.17 pct to 26.60%, mainly due to an increase in the number of subsidiaries included in the merger compared to the previous period. Financial expenses also increased by 64.19% to 7.29 million yuan, and the financial expense ratio increased by 1.64 pct to 5.49%, mainly due to the increase in the company's average loan size in the first half of 2017. Build a development model for the entire cultural industry chain and promote the “Big Moby Dick Project”. The company will continue to use “Big Moby Dick World” as the unified brand, with the original content of marine culture as the theme, and make comprehensive use of books, animation, film and television, performing arts, games, theme parks, etc., to achieve a win-win situation for chain enterprises and enhance the overall competitiveness of enterprises through intangible resource sharing and collaborative promotion. Profit forecast and investment advice: Optimistic about the company's innovation in endogenous products and marketing models to improve the level of operation management, drive continuous growth in passenger flow and main revenue, and continue to increase performance due to epitaxial technology and management output, the company's EPS in 17-19 is expected to be 0.59, 0.68, and 0.78 yuan/share, corresponding to the current stock price PE of 42, 36, and 32 times, respectively, giving it an “increase in holdings” rating. Risk warning: 1. Sudden industry accidents; 2. The company's offsite replication project grew less than expected.