Report Summary: Incident: The company's revenue for the first three quarters of 2016 totaled 288 million yuan, up 6.2% year on year, achieving net profit attributable to the parent company of 56.87 million yuan, an increase of 56.16% year on year, corresponding earnings per share of 0.15 yuan. In a single quarter in the third quarter, the company achieved operating income of 82.3 million yuan, a year-on-year decrease of 5.5%, and achieved net profit belonging to the parent company of 18.06 million yuan, an increase of 234.36% over the previous year; Comment: 1. Benefiting from the steady development of the industry, the company's main business grew steadily. During the “13th Five-Year Plan” period, the scale of railway fixed asset investment will reach 3.5 to 3.8 trillion yuan. It is expected to exceed 800 billion yuan in 2016, and industry investment will maintain a high trend. At present, China has also accelerated the construction of urban rail transit, and Huihuang Technology has established an urban rail company to give full play to its technical advantages. As the construction of the national railway network deepens and the demand for line monitoring and security increases, the share of industry investment is expected to lean towards the middle and lower stages of the industrial chain. Huihuang Technology is an important supplier of communication, monitoring and security products. After review, it recently obtained first-level qualifications for information system integration and service, further enhancing the company's market competitiveness. Therefore, Huihuang Technology will benefit from the steady development of the industry and investment preferences, and the business will usher in a period of steady growth. 2. Steadily advance the “Big Traffic WiFi” strategy and win the bid for advertising management rights for Shanghai Line 16. The company's “transportation WiFi” strategy is in the market development period. Huihuang Technology has taken a stake in Flying Sky Alliance, Sever Technology, and Colorful Access, and has laid out aviation WiFi, train station WiFi, bus WiFi, etc. Recently, the company won the bid for advertising management rights for Shanghai Line 16 to seize the opportunity in the urban rail transit network. In the future, Huihuang Technology will launch a mobile internet platform with intensive coverage of WiFi hotspots and support from relevant policies to charge back-end content providers to monetize traffic. 3. Increase management holdings and employee stock ownership plans, and be optimistic about future development. The company's plan to issue shares to the majority shareholders of the company and their mother through a non-public offering has been accepted by the Securities Regulatory Commission; the two shareholders, their co-actors and related asset management plans have also increased their shares from the secondary market (simplified equity disclosure, accounting for 9.9% of shares). In addition, the employee stock ownership plan has also been purchased, and the stock price has a certain safety boundary. The significant increase in management and employee wealth shows full confidence in the company's future development.