1. Overview of the incident Xingrongji Information Technology Co., Ltd., a holding subsidiary of the company, recently completed business registration and obtained a “Business License” issued by the Fujian Administration for Industry and Commerce! Based on the company's future prospects to achieve rapid development through transformation and breakthroughs in the Internet of Things and related businesses, it was given a “highly recommended” rating. 2. Analysis and judgment established Xingronji, the company that built the largest ecological platform for the Internet of Things in China, recently established Fujian Xingrongji Information Technology Co., Ltd. in a joint venture with Fujian Nebula Big Data. Relying on the IoT public service platform, Future Star Rongji actively participated in the formulation of IoT related standards by the government, operators and industry. We independently develop the IoT core operating system, IoT core communication components, IoT core security components, IoT core middleware and application systems, open up the upstream and downstream of the industry, build a full ecosystem platform, and strive to make the number of various intelligent devices and wearable devices connected to the IoT public service platform reach 500,000 units through three to five years of IoT public service platform operation, creating the largest IoT ecosystem platform in China. Obtaining the sole franchise for the Fujian IoT public service platform, Xing Rongji will obtain the sole franchise for the Fujian IoT public service platform. Future business directions will include: 1) Undertaking the operation of the IoT public service platform business, formulating IoT business development plans, and expanding the IoT business market; 2) Relying on the IoT public service platform, independently developing core IoT middleware products and application systems; 3) Integrating resources from various sources to participate in SME informatization, Beidou satellite positioning, multi-card integration, video integration, etc.; 4) Fujian actively participated in various business fields such as Xingyun Big Data Major projects such as emergency command, big data, e-government centers, multi-card integration, and video integration involve the construction and operation of IoT business components, etc. Xing Rongji will be listed on the national SME share transfer system within 5 years after official operation. Strong alliances promote the development process of “digital Fujian” Rongji Software's traditional business is e-government, information security, quality inspection, three-power engineering, and collaborative management. Through years of accumulation in traditional business, it has rich experience in informatization solutions and deep government enterprise resources. Nebula Big Data is a state-owned subsidiary of Fujian Electronic Information Group. It invests in the construction and operation of major informatization public service platforms in Fujian Province, undertakes the operation of government affairs and industry data in Fujian Province, and provides the government, enterprises, and industries with basic business capabilities in cloud computing, data services, and informatization. This strong cooperation is not only a major step in advancing the “digital Fujian” process, but also a major recognition of the company's strength and qualifications. 3. Profit forecast and investment recommendations The company's EPS for 15-17 is 0.04, 0.06, and 0.09 yuan respectively, giving it a “highly recommended” rating. 4. Risk Reminder 1) The transformation of the Internet of Things falls short of expectations;