Event: on April 1, 2019, the company issued a forecast for the first quarter of 2019, with a profit range of 56.2833 million yuan to 67.0039 million yuan, an increase of 5% to 25% over the same period last year.

The company's net profit has increased. In the first quarter of 2019, the company is expected to achieve a net profit of 56.2833 million yuan to 67.0039 million yuan. In the same period in 2018, the company's net profit is 53.6031 million yuan, an increase of 5% to 25%. The non-recurrent profit and loss in the first quarter of 19 is expected to be 3 million yuan to 5 million yuan, deducting non-net profit range from 5128.33 yuan to 6400.39 yuan, with a year-on-year change of-1.53%.

The company won 148 million orders, which has a pulling effect on the company's performance in 2019. On March 13, 2019, the company announced that it won the bid "New Lianyungang-Zhenjiang Railway Information system and related Engineering Construction Project", with a total winning bid of 148 million yuan, accounting for 7.61% of the company's annual operating income in 2017.

The duration of the project is 298 days, and most of the projects can be completed by the end of 2019, making a positive contribution to the company's performance growth this year.

The company gets rid of the burden and participates in the daily interactive listing of the company. In 2018, Li Xinying made full provision for other receivables of listed companies, with a provision of about 320 million yuan, which had a great impact on the company's 18-year profits. According to the net profit after deducting non-recurrent profits and losses, the company's performance actually grew rapidly, with a growth rate of about 80% to 100%. This full impairment eliminates the uncertainty of the company's follow-up performance to a certain extent. In addition, the company's daily interaction has recently been listed on the gem, and the company holds 4.92 million shares of daily interaction, accounting for 1.3367% of the total share capital before the daily interactive issue. The listing of daily interaction will bring a rich return on investment for the company, and the investment return of the company will increase.

Profit Forecast: we expect the company's EPS in 2018, 2018, 2019, and 2020 to be 0.04,0.28 and 0.34 yuan respectively, with a "buy" rating.

Risk hint: business growth is not as expected and project progress is not as expected.