Investment highlights: Incidents: The company announced the signing of a “Strategic Cooperation Framework Agreement” with the Sichuan Provincial Health Planning Commission, and resumed trading on November 6. Government leadership, enterprise participation, and resource integration to form joint efforts. In order to build a new engine for the economic development of Sichuan Province, give full play to the advantages of all parties, and build an intelligent medical service ecosystem, the two sides signed a “Strategic Cooperation Framework Agreement” on November 5 and held the first “Sichuan Internet+Health Service Innovation and Entrepreneurship Conference” in Chengdu. It is currently the only listed company that has signed a strategic cooperation agreement with the Sichuan Provincial Health Planning Commission. The contents of the cooperation included in the agreement are: 1. The two sides jointly promote the construction of a medical informatization platform, a WiFi-based hospital informatization unblocking project, an Internet full-process medical service platform, and the WeChat Medical Cloud His construction project. 2. Support Wanfang to develop and establish “Internet+Healthcare” innovative diagnosis and treatment centers, and build “Internet+Healthcare” innovation demonstration projects such as “iTV Health Channel” and “Digital Oral Medicine”. 3. Wanfang Development assisted the Sichuan Provincial Health Planning Commission in hosting the “Sichuan Internet+Medical Innovation and Entrepreneurship Conference”. 4. At the initiative of the Sichuan Provincial Health Planning Commission, Wanfang Development initiated and joined forces with social capital and professional investment institutions to establish the Sichuan Medical and Health Informatization Innovation and Entrepreneurship Policy Investment Guidance Fund to invest in key areas and key regions that will help advance the Internet medical process and the urgent needs of the Sichuan Provincial Health Planning Commission. The total amount raised by the fund was 3 billion yuan (1 billion yuan for the first phase). The WeChat Wi-Fi model is mature and replicable. Using WeChat Wi-Fi and micropayment platforms, Yijian Network has greatly solved the problem of difficult medical treatment, such as long queues for medical treatment at West China No. 2 Hospital. It has functions such as registration, medical guidance, appointment, and payment, etc., and has a demonstration effect, and the model is mature and can be replicated in other hospitals in the future. This model has been ahead of the market for six months, and has reached a deep cooperation with WeChat, and will receive more support in the future. The micropayment platform was launched and received 400,000 to 500,000 payment traffic in a month. ITV media, created in collaboration with China Telecom, brings medical services to families and enables online doctor-patient interaction. In the future, it will also cooperate with WeChat to open up the health insurance payment process (at present, it has completed the social security HIS and has the conditions to connect with social security). The digital dentistry project was initially successful. The digital dental project is a collaboration between Huaxi Dental Clinic and Baidu to connect West China Dental Hospital with various clinics in Sichuan. Currently, it is in the pilot phase, which can increase the clinic's revenue by 30%-100%. Not only can clinic doctors have access to high-end surgical practice and training, but each surgical plan is endorsed by Huaxi doctors to ensure the quality of surgery, and also saves patients time and money costs. Baidu receives a share through diversion, thus achieving a win-win situation. Build a core platform for Sichuan and continue to expand to the southwest. After the signing of this strategic framework agreement, Wanfang Development will act as an investor and operator of “intelligent medical care” in Sichuan Province, marking the company's entry into the “Internet+Healthcare” market in Sichuan Province. The company will expand to the southwest region with Sichuan Province as the core province of intelligent medical care, and build an industrial structure for intelligent medical care in the southwest region. According to the strategic framework agreement, the company will further expand or acquire businesses and assets related to intelligent medical care. Valuation rating: The company is determined to transform the medical field, especially in the field of Internet medical care, and has received government support. The WeChat WIFI model of West China Second Hospital is replicable, the internal governance structure is continuously optimized, and the incentives are improved, and it should enjoy high premiums. The EPS is expected to be 0.01 yuan, 0.02 yuan, and 0.03 yuan respectively in 15-17, maintaining an increase in holdings rating. Risk warning: Internet healthcare layout falls short of expectations.