Guide to this report: The company signed a framework agreement with Ant Financial, which is expected to accelerate the release of growth potential in the big health sector; policies promote the rapid development of the domestic health service industry, and the company will significantly benefit from the industry's growth dividends. Maintain an increase in holdings rating, with a target price of 17 yuan. The company and Ant Financial signed a framework agreement on cooperation in the fields of “Internet+Human Society” and “Internet+Healthcare”, which is expected to accelerate the release of the company's business growth potential in the health sector. We lowered the company's EPS from 17-19 to 0.34 (-0.07) /0.44 (-0.09) /0.55 yuan. The reason for the reduction is that the company is still in an integration period after divesting the Cisco distribution business, which is expected to put some pressure on future performance. Since the overall valuation level of the computer sector fell to about 48xPE, the target price was lowered to 17 (-11) yuan, corresponding to 50X in '17, maintaining an increase in holdings rating. Ant Financial has significant resource advantages, and the cooperation focuses on the fields of human society and medical informatization. As a leading domestic financial service provider, Ant Financial has huge user resources, and its strong diversion effect will significantly accelerate the transformation of corporate social services from the government side to the consumer side. This cooperation focuses on the fields of human society and medical informatization. The company will rely on the traffic portal and big data platform provided by Alipay's city service to accelerate the promotion of medical insurance mobile payment services throughout the country and explore more mature monetization models in the social and medical fields. Support policies continue to be strengthened, and the prospects for the “big health” market are extremely broad. According to the “Healthy China 2030” Plan Outline, the total scale of the domestic health service industry will reach 16 trillion yuan by 2030. Under the country's strong leadership, various industries such as health, medical care, and old-age care will usher in major development opportunities. “Big Health” is one of the company's three key areas, and the company is expected to benefit significantly from the rapid growth dividends of the industry. Deeply partnering with Ant Financial to accelerate the early stages of the industry, the company's performance continued to grow strongly, receiving strong support. The in-depth cooperation between the company and Ant Financial will have strong synergies: 1) Strengthen the strength of the company's product side and operating platform. 2) “Medical Express” has entered Alipay's urban service platform, taking advantage of the latter platform and technological advantages to seize the Big Health AI 2.0 era. 3) Ant Financial's national marketing service network will help the company's business be quickly replicated and promoted from the Zhejiang health insurance department to the whole country. We believe that this cooperation will strengthen the company's leading position in the “big health” map of Zhejiang Province and the whole country, and will provide strong support for the company's long-term performance growth. Risk warning: The strategic upgrade falls short of expectations, and the progress of the new business falls short of expectations.