Guide to this report: The market prosperity of the network planning and design industry has improved marginally. The company is a priority beneficiary target of the 5G industry chain. The main business further focuses on 5G-related business, and the majority shareholders have increased their holdings in the company's shares, demonstrating confidence in the company's future development. Incidents: The company was notified by Guomai Group on December 28, 2018, that Guomai Group had increased its holdings of the company through bulk transactions, increasing its holdings by 12.266 million shares on October 11, 2018; increased its holdings by 7.78 million shares on December 28, 2018; increased its holdings by 100,000 shares through centralized bidding on October 17, 2018, accounting for a cumulative total of 2% of the total share capital; on January 2, 2019, Guomai Group increased its holdings of the company's shares by 8.00 yuan, accounting for 1.23% of the total share capital. The two cumulative increases in holdings accounted for 3.23% of the total share capital. Maintain an increase in holdings rating. 2019 is the beginning of 5G infrastructure construction. The 5G industry chain network planning and design takes precedence, the prosperity of the network planning and design industry has increased, and the difficulty of 5G planning and design has greatly increased compared to the 4G period. Maintain the company's 2018-2020 EPS of 0.17/0.22/0.31 yuan. With the arrival of the 5G investment cycle, the company's target price was raised to 8.76 yuan (+2.94%), corresponding to the company's PE39.8. The Group increased its stock holdings, demonstrating confidence in development and watching value. The company's financial situation is good, cash flow is sufficient, and there is potential for re-evaluation of assets. Currently, the company's valuation is at the bottom. This increase in shares sends a positive signal of the company's firm confidence and determination in business development, boosting market sentiment. The company's main business was further focused. The company focuses on the 5G network planning and design industry and the development of IoT big data platforms. As a leading local private design institute, the company is expected to further expand its market share in 2019 and gradually divest other businesses with a gross margin of less than 15% in 2019. Risk warning. The 5G construction cycle falls short of expectations; there is a risk that operators will implement a general contracting system for the planning and design industry; and macroeconomic real estate policy regulation has had an adverse impact on the operation of the company's science park.