Research situation: Recently, we went to Guomai Technology Co., Ltd. to conduct field research. Chairman Sui Ronghua of the company briefed us on the company's business situation in the first half of this year, the layout of the company's Internet of Vehicles business, and the company's strategic plan for education. Investment points: ICT business grew significantly in the first half of the year. The company's revenue in the first half of the year increased 160% year on year, and net profit was 40.61 million yuan, up 110% year on year. The increase in revenue mainly comes from the ICT system integration business, as the company increased its market development investment in ICT industry technology, products, and comprehensive solutions, while network technology service revenue grew steadily during the same period. The increase in net profit is due, on the one hand, to the growth of the ICT business, and on the other hand, the Polytechnic Institute also brought in part of the profit, the increase in investment income of participating companies, and the year-on-year decrease in current financial expenses. Overall, the company has entered an upward channel of healthy development. As the synergy of industries such as education and the Internet of Things increases, the company is expected to continue to maintain steady growth. The company's technical advantages in the field of the Internet of Things highlight the company not only maintained its competitive advantage in the original telecom design consulting, planning, system integration, platform operation and maintenance, etc., but also determined the development strategy of the “country of technology”, continued investment in core technologies in the fields of the Internet of Things, big data, cloud computing, etc., and formed a complete “Internet of Things+Big Data” solution. In addition, there are core technologies with independent intellectual property rights in key fields such as intelligent hardware and platform core equipment. In terms of layout, the company uses its first-mover advantage to build and operate IoT platforms in transportation, health, government, public security, telecommunications, education and other industries by occupying the core data portal of the Internet of Things. This has also received strong support from governments at all levels in terms of capital support, infrastructure construction, public information resource sharing, and government information service procurement. Currently, the company's expected breakthrough in the Internet of Things is the construction of a national third-party safety certification platform for used cars. The platform is an information service platform based on the Internet of Things, with Internet of Vehicles technology as the core. It collects vehicle technical parameters, operation data, etc. in real time by installing devices such as the Internet of Vehicles control unit (TCU) on the vehicle, and then integrates vehicle production, sales, registration, inspection, maintenance, maintenance, maintenance, maintenance, maintenance, maintenance, maintenance, maintenance, maintenance, maintenance, repair, insurance, and scrap of life cycle, thus forming a vehicle safety certification information base. The subsequent business model may, on the one hand, be the sales of data control module hardware and the operation and maintenance of the platform, and can also provide authoritative third-party vehicle certification evaluation reports and information search services for used car transactions. As the number of users installing data modules increases, the Internet of Vehicles business will be the most explosive business area of the company in the future. The Fuzhou Institute of Technology, which lays out education to enhance the development potential of the Internet of Things, has now set up undergraduate and junior colleges. The professional settings, talent training, and research direction are all closely integrated with the company's IoT development strategy. It not only provides the company with long-term talent and technical support, but also provides stable profits for the company as the number of students expands. In addition, relying on the research strength of the college's teaching staff, a networking and big data innovation team has been set up to provide the company with strategic science and technology research reserves, and occupy the cutting-edge technology industry. Therefore, the company's future model of integrating production, academia, and research will be the most solid guarantee for the rapid growth of the company's business and technology. Profit and Forecast Taking into account the rapid growth of the company's ICT business, the education industry, and investment income, the company's revenue for 16-18 is estimated to be 9.2, 11.96, and 1,496 billion dollars, and the corresponding EPS is 0.15, 0.23, and 0.30 yuan, which is the first time that it has been given an “increase in holdings” rating. Risk warning: ICT business growth is declining.