Incident: The company announced plans for restructuring with Anhui Radio and Television Group during the suspension period. According to the Anhui Cultural Reform Administration Document [2015] No. 15 issued by the Office of the Anhui Provincial Leading Group for Cultural System Reform, the restructuring was not approved. The company decided to stop planning this major asset restructuring. The market has no expectations for the restructuring, and failure to approve it will not affect long-term value. The company's main business is operating steadily. The company's performance growth rate has declined in the past two years due to the slowdown in highway investment. The company actively expanded new business and completed additional sales last year. It plans to invest in projects such as “port logistics software and information service platform”, “intelligent transportation information service platform”, and “industrialization of enterprise network communication terminals based on TD-LTE technology”. The market has no expectations about the restructuring, and the failure to approve this restructuring will not affect the long-term value of the company. The new business is progressing steadily. Wantong Technology and its subsidiary Huadong Electronics are leading enterprises in informatization in the fields of highways and port and shipping respectively. Expanding into logistics information services through the accumulation of projects and data is an important direction for the company's new business development. Huadong Electronics has an absolute leading industry position in the field of port informatization, and its China Port Network is an important carrier for the company's future Internet logistics information services. If you visit China's port network, you can see that services such as global ship tracking and positioning and container dynamic tracking have been launched, and the online booking system has also been put into trial operation. The company relies on scarce data resources and a large number of shipping companies, shipping agents, freight forwarders, and logistics company customers, and an Internet logistics service and online booking platform model with China's port network and ship forwarding agency SaaS applications as entry points is beginning to emerge. The future is expected to use the power of the capital market to achieve leapfrog development. Investment advice: The company's 2015-2017 EPS is expected to be 0.38, 0.45, and 0.57, respectively. Currently, the corresponding PE is 41, 34, and 27 times, respectively. We expect that in the future, the company may still accelerate the layout of the Internet logistics business and the expansion of new businesses through mergers and acquisitions. The sector index rose 112% during the suspension period. The company has room to make up for the increase, maintain its “buy” rating, and raise the target price to 23 yuan, corresponding to 61 times PE in 2015. Risk warning: New business development falls short of expectations.