Incident: The company used its own capital of 8.175 million yuan to purchase 2.18 million Suzhou Qianshitong shares held by Suzhou Ronglian and Yao Lingzhong, accounting for 10.90% of Suzhou Qianshitong's shares. Comment: Maintaining an increase in holdings rating, the target price is 45 yuan. We maintain the company's profit forecast. The EPS for 16/17/18 is 0.24 yuan/0.34 yuan/0.44 yuan, respectively. The company is actively positioned in the field of artificial intelligence, and the 3D face recognition and virtual reality businesses are highly competitive. This investment is more likely to accelerate the progress of the smart city business and maintain an increase rating. The target price is 45 yuan, corresponding to 132 times PE in 17 years. The company invested in Qianshitong to deploy video big data, and its business field expansion and implementation execution exceeded market expectations. Qianshitong has a R&D team composed of experts in the field of computer vision and graphics research who graduated from famous universities in Hong Kong and China. Mr. Li Zhiqian, the chairman and general manager of the company, has been exploring and applying video technology for more than 20 years. He was the general manager of the ZTE Video Product Line and the deputy director of the Shenzhen Research Institute. After that, he worked at the Hong Kong Applied Science and Technology Research Institute for 10 years, specializing in video big data theory research and application development. Qianshitong has leading talent reserves and technical strength. Based on core video big data technology, Qianshitong has the ability to provide complete industry solutions. Qianshitong is engaged in cutting-edge theoretical research on big data to video application algorithm development, and combines with customer needs in the public security industry to form a video software product R&D and production process. It has mature experience and practical application products in the fields of deep learning algorithms, video image processing, video summarization, video data structuring, video search, and video analysis. Currently, solutions cover various industries such as public security, transportation, finance, energy, justice, culture, education and health. Investing in Qianshitong to form an effective collaboration with the company's identification technology and products is expected to accelerate smart city business development. Qianshitong is committed to products such as image detection, video retrieval, and video structured systems, and has begun promoting solutions in related industries. Its intelligent video search technology, along with the company's existing intelligent face recognition and vehicle recognition technology, can form market-competitive products, which can help accelerate the company's urban intelligent system business layout, thereby driving rapid revenue growth. Risk warning: risk of implementation of the 238 million military air traffic management project; risk of brain loss