Core view: 1. The advantages of mobile information transmission services are obvious. Cloud platforms enhance core competitiveness. The company's main business is mobile information transmission, communication network maintenance, etc., and its main customers are enterprises and institutions such as e-commerce and the Internet, with obvious advantages in the industry. In order to cope with the declining trend of SMS unit prices, the company continues to carry out research and development work on communication network maintenance public service platforms, drone applications, and cloud computing service technologies. Cloud service platforms with big data and artificial intelligence as core capabilities are highly intelligent, effectively controlling costs and enhancing the company's overall core competitiveness. 2. Acquire 100% of the shares in Jiahua Information. The main business is expected to expand rapidly through the issuance of shares and cash payments. The company acquired 100% of the shares of Beijing Zhongtian Jiahua Information Technology Co., Ltd. and officially changed its name to Zhongjia Bochuang Information Technology Co., Ltd. Customers of Jiahua's mobile information transmission service business include insurance companies, banks and other large financial institutions. They complement the company at the customer level and will help the company enrich its customer base in the future. At the same time, Jiahua Information has the ability to provide complete mobile commerce solutions and complete business qualification licenses, which will enable a rapid increase in the scale and quality of the company's main business and consolidate the overall competitiveness of the industry. 3. Financial innovation service business is leading the market, and fintech has become a new growth point. As the most outstanding financial industry outsourcing service operator in the industry, Zhongtian Jiahua is deeply involved in financial innovation services under scenario operation. With more than ten years of rich experience in financial product marketing, Jiahua Information provides comprehensive and in-depth marketing service solutions for credit cards and other financial products to large domestic financial companies. Jiahua Information's business covers the three major fields of technology finance, consumer finance, and wealth management. It has a customer share of more than 80% in the insurance and fund industry, has an outstanding market share position in the industry, and has carried out in-depth cooperation with banks such as Everbright Bank, Huaxia Bank, and Industrial Bank. In the future, the company will continue to expand its business in the field of fintech with big data and artificial intelligence as the core, and fintech is expected to become a new profit growth point for future companies. 4. The investment recommendations take into account the company's technical barriers and customer resource advantages. The company is expected to achieve net profit of 264, 3.45, and 417 million yuan in 2018-2020. The corresponding valuation is 27, 21, and 17 times the current market value, giving it a “recommended” rating. Risk warning: The risk of changes in relevant national policies, and the company's market expansion falls short of expectations.