Company announcement: The company released its financial report for the third quarter of 2015. In the first three quarters, the company achieved operating income of 146.614,900 yuan, an increase of 3.57% over the previous year, and realized net profit attributable to owners of listed companies was 31,5159 million yuan, an increase of 19.01% compared with the same period last year. Profit increased sharply in the third quarter, and performance slightly exceeded expectations. In the third quarter of 2015, the company achieved net profit attributable to owners of listed companies of 19926,700 yuan, an increase of 63.84% over the previous year. The main reason for the increase in performance was that during the reporting period, the company carried out operations and management according to the business plan, improved the revenue structure, and actively explored the market. Operating income increased compared to the same period last year. In the first three quarters, the total amount of contracts signed by the company was 162,413,300 yuan; as of the end of the reporting period, the total amount of contracts not executed by the company was 209.617 million yuan. The acquisition of Shixuan Technology during the reporting period was officially approved and approved by the Securities Regulatory Commission, and the major health layout deepened at an accelerated pace. The company acquired 100% of the shares with “equity+cash” of 690 million yuan, and Shixuan Technology promised that the net profit for 15-17 years will not be less than 4688/5859/73.24 million yuan. Shixuan Technology's business covers digital hospitals, healthy cities, and healthy homes, with outstanding features and advantages: (1) The product line is complete. (2) Cross-regional characteristics are obvious. (3) Leading the industry in gross margin and net profit margin. (4) Forward-looking layout of C-side personal health management. Since the beginning of '14, the company has tried to enter the 10 billion blue ocean market for in vitro diagnostics, invested in Daqian Biotech and Exxon, and built a competitive advantage in “reagents+devices”. Shixuan Technology, Daqian Biology, and Exxon are expected to achieve complementary advantages in market and customer resources, and expand the company's product line. The smart grid business is developing steadily, and distribution network automation is expected to contribute considerable incremental benefits. The company is a leader in the field of secondary power equipment, and will benefit from smart grid construction and new power reform in the next few years. On the one hand, traditional advantageous products such as power fault recording analysis devices have a strong market position; on the other hand, distribution network construction is expected to accelerate after a phased slowdown, yet the company's distribution network automation products currently account for less than 2% of revenue, and the potential for development is huge. The value of the company is still undervalued. (1) Valuation: Considering the additional share capital of about 7 billion dollars, it is the listed company with the smallest market capitalization in the medical informatization sector. (2) Elasticity: It is an indisputable fact that the major healthcare industry has broad market prospects. The “Healthy China” strategy has been in preparation for many years. After being unveiled again during this year's two sessions, it officially began strategy preparation work in September, which is expected to rise to a national strategy, thus driving a further increase in valuation. (3) Performance: After the sharp decline in the stock market in the previous period, the market's requirements for the company's performance became more stringent. However, according to the currently announced orders and operating conditions, Shixuan Technology's performance should be less of a problem with gambling, and may even exceed expectations. (4) Catalyst: The restructuring has been officially approved by the Securities Regulatory Commission, and the transfer of the underlying assets has been completed, which means that the company's development will enter the next stage. For example, the time has come to accelerate the integration of resources within the big health business sector and create synergies. At the same time, Shixuan Technology is also expected to start using the listed company platform to launch a new extension layout. Maintain the “Overweight” rating. Maintaining the profit forecast, assuming Shixuan Technology's consolidated performance for the fourth quarter of this year and considering additional share capital dilution, the company's EPS for 15-17 is expected to be 0.25/0.48/0.59 yuan, corresponding to 15-17 PE of 117/61/50, respectively. “Smart grid + smart medical care” two-wheel drive, maintaining the “accumulation” rating.