提(ti)升公(gong)司整(zheng)體(ti)(ti)管(guan)理效(xiao)率，積極調整(zheng)業(ye)(ye)(ye)務結(jie)構(gou)。2016年4月，天(tian)(tian)(tian)音(yin)(yin)控股(gu)收購了天(tian)(tian)(tian)音(yin)(yin)通(tong)(tong)信(xin)30%股(gu)權(quan)，至(zhi)此(ci)，天(tian)(tian)(tian)音(yin)(yin)通(tong)(tong)信(xin)成(cheng)為(wei)(wei)天(tian)(tian)(tian)音(yin)(yin)控股(gu)全資子公(gong)司，公(gong)司將繼(ji)續以天(tian)(tian)(tian)音(yin)(yin)通(tong)(tong)信(xin)為(wei)(wei)經(jing)營主體(ti)(ti)開展(zhan)手機分(fen)銷(xiao)、移動(dong)(dong)互聯網業(ye)(ye)(ye)務及移動(dong)(dong)通(tong)(tong)信(xin)轉(zhuan)售業(ye)(ye)(ye)務，加(jia)強對天(tian)(tian)(tian)音(yin)(yin)通(tong)(tong)信(xin)的整(zheng)體(ti)(ti)經(jing)營決策(ce)(ce)能力(li)和效(xiao)率，實現公(gong)司資源(yuan)更(geng)有效(xiao)的配(pei)置。此(ci)后，公(gong)司積極調整(zheng)策(ce)(ce)略及業(ye)(ye)(ye)務結(jie)構(gou)，采取優(you)選品牌的經(jing)營模(mo)式，加(jia)強代理以蘋果手機為(wei)(wei)代表(biao)的優(you)質品牌，同時(shi)發(fa)展(zhan)線上線下分(fen)銷(xiao)雙軌(gui)結(jie)合的策(ce)(ce)略，提(ti)高移動(dong)(dong)互聯網及移動(dong)(dong)轉(zhuan)售等利潤驅動(dong)(dong)力(li)，降(jiang)低(di)業(ye)(ye)(ye)務風險，有效(xiao)提(ti)高了手機分(fen)銷(xiao)業(ye)(ye)(ye)務利潤。
收(shou)購(gou)掌(zhang)信彩(cai)(cai)(cai)通，發展新的業務增(zeng)長點。2015年12月(yue)，公司收(shou)購(gou)掌(zhang)信彩(cai)(cai)(cai)通100%股權(quan)。掌(zhang)信彩(cai)(cai)(cai)通作為國內最(zui)早從事(shi)彩(cai)(cai)(cai)票(piao)交易軟(ruan)硬(ying)件(jian)系統業務的公司之一，擁有成熟的產(chan)品(pin)體系、穩定的客戶資源(yuan)和完善的業務模(mo)式。交易后(hou)，公司將在現有業務的基礎上增(zeng)加彩(cai)(cai)(cai)票(piao)行業軟(ruan)硬(ying)件(jian)銷(xiao)售及技術服務業務，有助于公司拓展彩(cai)(cai)(cai)票(piao)相(xiang)關業務領域，形(xing)成新的業務增(zeng)長點。
推進(jin)公(gong)(gong)司(si)進(jin)軍彩(cai)(cai)(cai)(cai)(cai)票(piao)行(xing)(xing)業(ye)(ye)戰略布局(ju)，完善(shan)產業(ye)(ye)鏈(lian)整合。2016年5月13日，天音(yin)控(kong)股下屬子公(gong)(gong)司(si)深圳穗彩(cai)(cai)(cai)(cai)(cai)收到四川(chuan)省(sheng)福利彩(cai)(cai)(cai)(cai)(cai)票(piao)發行(xing)(xing)中(zhong)(zhong)(zhong)心的中(zhong)(zhong)(zhong)標(biao)通知書，中(zhong)(zhong)(zhong)標(biao)四川(chuan)省(sheng)福利彩(cai)(cai)(cai)(cai)(cai)票(piao)發行(xing)(xing)中(zhong)(zhong)(zhong)心網點即開型福利彩(cai)(cai)(cai)(cai)(cai)票(piao)銷售管(guan)理系統(tong)集成項目，項目金(jin)額為人(ren)民幣(bi)2498萬(wan)元。深圳穗彩(cai)(cai)(cai)(cai)(cai)主營業(ye)(ye)務(wu)為彩(cai)(cai)(cai)(cai)(cai)票(piao)設(she)備及(ji)軟件(jian)銷售、彩(cai)(cai)(cai)(cai)(cai)票(piao)運營及(ji)技(ji)術服(fu)務(wu)，具備較強(qiang)的技(ji)術研發能力，是目前福彩(cai)(cai)(cai)(cai)(cai)設(she)備系統(tong)的主要(yao)供應(ying)商之一。2016年6月，為繼(ji)續推進(jin)在彩(cai)(cai)(cai)(cai)(cai)票(piao)行(xing)(xing)業(ye)(ye)的戰略布局(ju)，公(gong)(gong)司(si)擬以自有(you)資(zi)金(jin)設(she)立全資(zi)子公(gong)(gong)司(si)深圳天聯彩(cai)(cai)(cai)(cai)(cai)投資(zi)有(you)限公(gong)(gong)司(si)，注(zhu)冊資(zi)本(ben)為人(ren)民幣(bi)1.19億元。設(she)立后，有(you)助(zhu)于公(gong)(gong)司(si)將彩(cai)(cai)(cai)(cai)(cai)票(piao)業(ye)(ye)務(wu)做大做強(qiang)，實(shi)現彩(cai)(cai)(cai)(cai)(cai)票(piao)產業(ye)(ye)的孵化及(ji)彩(cai)(cai)(cai)(cai)(cai)票(piao)行(xing)(xing)業(ye)(ye)上下游產業(ye)(ye)鏈(lian)的整合，完善(shan)公(gong)(gong)司(si)在彩(cai)(cai)(cai)(cai)(cai)票(piao)行(xing)(xing)業(ye)(ye)的戰略布局(ju)，全面提升公(gong)(gong)司(si)核(he)心競爭力。
估值(zhi)與投資(zi)建議(yi)：我(wo)們認為雖然國家當前對互聯(lian)網(wang)彩票(piao)銷售處于進一步規范(fan)實施階段，但互聯(lian)網(wang)彩票(piao)新(xin)業(ye)務(wu)正(zheng)處于發展初期，彩票(piao)行業(ye)投資(zi)前景(jing)巨大，公司(si)(si)(si)布局彩票(piao)行業(ye)，有利于公司(si)(si)(si)形成新(xin)的業(ye)務(wu)增長(chang)點，提升公司(si)(si)(si)核心競爭力和(he)整體價(jia)值(zhi)。在主(zhu)營(ying)業(ye)務(wu)方面(mian)，采取優(you)選品牌的經營(ying)模(mo)式(shi)，也將(jiang)有效提高公司(si)(si)(si)手機分銷業(ye)務(wu)利潤。預(yu)計公司(si)(si)(si)2016-2018年(nian)EPS分別為0.49,0.66,0.81元。
風(feng)險提(ti)示：彩票行業策略風(feng)險；市場競爭風(feng)險；公司業務整合風(feng)險
