Key investment points: The company provides high-tech anti-terrorism equipment and systems to protect the G20 summit. The company provided a number of high-tech anti-terrorist equipment and systems for the G20 summit in Hangzhou, such as explosion-proof equipment, new intelligent police vehicles and command systems, handheld wall-penetrating radar, etc., to fully serve the security work of the G20 summit and protect the G20 summit. As a leading domestic public safety and anti-terrorism service provider with “top nine” qualifications such as classified system integration grade A and security grade A, the company was responsible for security work at the APEC summit and military parade last year. Currently, the company's application for a non-public offering has been approved by the Securities Regulatory Commission, and efforts will be made in the fields of public safety and anti-terrorism stabilization in line with the company's order expansion process. The company has Class A qualification, and the PPP model accelerates the smart city project process. The company is the only company with the five elements of ability to build smart cities. It is the first in China to adopt the PPP model. As the sole social capital party for smart cities, the company's internal rate of return for building smart cities comes from project profits and operating profits. As the only company with front-end sensing technology and big data application technology in the domestic smart city industry, it has core technology patents, low engineering costs, and high profit margins. The company has 1.3 billion PPP project experience in Liupanshui, Guizhou. It is unique in the industry. CLP Xingfa's 16-year gambling performance of 138 million is expected to exceed expectations. The cost advantage of charging piles is obvious, and it is expected to have a synergistic effect with smart cities. The company signed a strategic agreement with Global Car Sharing, and the two sides cooperated to promote projects such as NEV leasing, wireless charging stations and smart cities. Global Car Sharing relies on SAIC Motor Group and Auto City Group. It has shared 1000 outlets when building in Shanghai, invested more than 1,000 vehicles, more than 100,000 members, and was unattended. It has completed the car rental and return process through the app. It has already started leasing business in Beijing, Zhejiang, Jiangsu, Sichuan and other places. This cooperation will increase the performance of charging stations and video security systems. Maintain profit forecasts and maintain buying ratings. According to the plan, orders for charging piles have been placed in small batches, explosion-proof robots, etc. are progressing smoothly. The non-public sale meeting was held on June 22, and the fixed increase is progressing smoothly. The company's layout in all fields is developing smoothly. It is estimated that EPS will be 0.34/0.39/0.50 yuan respectively in 16-18, and the corresponding PE will be 47/41/32X, respectively, maintaining profit forecasts and maintaining purchase ratings.