For the first time, coverage gave an increase in holdings rating, with a target price of 32 yuan. Benefiting from the recovery of traditional business, the company's EPS for 2015-2017 is expected to be 0.03 yuan, 0.08 yuan, and 0.10 yuan, respectively. Considering that there is a serious lack of understanding in the market about the explosive nature of Xingrong-based business, coverage for the first time gave an increase in holdings rating, with a target price of 32 yuan. It has been deeply involved in the Fujian market for 20 years and is a regional leader in e-government. The company's main clients include the government, state-owned enterprises, energy, and telecommunications. The company was founded in Fujian in 1993 and has been deeply involved in the local area for more than 20 years, accumulated a large amount of government resources and cooperative relationships, laying a good foundation for future business expansion. The establishment of Xing Rong Foundation is a side proof of the government's trust in its qualifications and business ability. The wave of cloud computing is sweeping through, and the construction of “digital Fujian” is driving regional acceleration. On the technical side, there is room for a nearly three-fold increase in the penetration rate of cloud services in China. Meanwhile, Alibaba Cloud's revenue explosion has become a landmark event for the explosion of cloud computing in China. On the policy side, as the core component of “digital Fujian,” the cloud computing industry in Fujian is expected to receive policy inclination and acceleration. Considering that 2015 is the 15th anniversary of “Digital Fujian,” the trend is expected to exceed market expectations, and the introduction of follow-up resources is worth looking forward to. Xing Rongji has become a pioneer in company transformation, and business model changes are expected to begin. The company and the local state-owned enterprise Nebula Big Data jointly established Xing Rong Foundation. Among them, the company holds 71% of the shares. Xing Rongji will become a builder and operator of cloud computing platforms for various industries under the “Digital Fujian” strategy. The platform currently has three components, namely the IoT platform, the SME service platform, and the “Internet +” public service platform. After a long period of business exploration, the company is ushered in an excellent opportunity for development. If the company continues to break through in execution, business model changes are expected to begin. Risk warning: Platform construction has not progressed as expected, and the recovery of traditional business has fallen short of expectations