The company released its 2018 three-quarter report. In the first three quarters, it achieved operating income of 693 million yuan, an increase of 147.09%; net profit of 98.92 million yuan, an increase of 143.13% over the previous year; net profit after deduction of net profit of 88.56 million yuan, an increase of 152.77% over the previous year. The third quarter alone achieved operating income of 362 million yuan, up 247.71% year on year; net profit of 46.67 million yuan, up 258.13% year on year; net profit after deducting non-return of net profit of 42.27 million yuan, up 273.31% year on year. Strong overseas demand has spurred significant growth in the company's POS business. Based on the company's POS business, the company targets overseas markets and is increasing investment in new product development, market expansion and technical support and maintenance. Brand awareness and recognition have increased rapidly, and overseas business is developing rapidly. The main sales markets are concentrated in India, Southeast Asia, Europe, Russia and South America. The PDA business benefits from strong demand from logistics companies and a new renewal cycle. Benefiting from the continued expansion of the scale of domestic logistics companies, the demand for new PDAs with complete functions has also increased. At the same time, PDA has also entered a renewal depreciation cycle. Furthermore, after a fierce price war in the industry, the company's position has been re-established, which is also conducive to market share moving closer to the company. Investment advice: We are optimistic that the explosion of the overseas POS market will bring growth to the company's business. At the same time, strong logistics demand and the entry of PDA into the replacement and upgrade cycle will benefit the company's PDA's business development. The EPS for 2018-2019 is expected to be 0.37 yuan and 0.50 yuan respectively, giving an increase in holdings rating of -A, with a target price of 20 yuan for 6 months. Risk warning: Overseas POS demand falls short of expectations; PDA demand falls short of expectations.