The performance was in line with expectations. In 2018, the company achieved operating income of 391 million yuan, an increase of 41.69% over the same period of the previous year; net profit of 404.44 million yuan, an increase of 22.91% over the same period of the previous year; revenue reported in the first quarter of 2019 was 643.746 million yuan, an increase of 32.49% over the same period of the previous year; and net profit was 6.4577 million yuan, an increase of 114.31% over the same period last year. With a series of big orders, market expansion has been very effective. The number of large-scale 10-million-level projects that the company bids in 2018 has increased significantly, such as the Jiangxi Maternal and Child Health Hospital (82.09 million), the Second Affiliated Hospital of Shaanxi University of Traditional Chinese Medicine (69.59 million), Shaw Hospital (42.5 million), and Guangxi International Zhuang Medical Hospital (29.99 million), and more than 10 large-scale smart hospital construction projects. The next generation of hospital information systems has achieved a phased breakthrough. The company's next-generation hospital information system uses new IT technologies such as B/S, cloud computing, big data, SOA, REST API, Html5, and multi-layer architecture to break the original HIS, EMRS, and HRP system lines. It is a newly designed integrated operation platform for the entire hospital core business process covering the traditional “HIS+EMRS+ Internet hospital” business boundary with electronic medical records as the core. In 2018, the next-generation hospital information system consolidated and expanded the pilot application of the “seed” customer Zhejiang People's Hospital. The system has been successfully put into operation at the headquarters, branch office, and two outpatient clinics of the top three hospitals and passed inspection. All hospitals operate a unified system. The Comfort Medical Treatment Platform lays the technical foundation for Hangzhou's urban brain. The company is the builder and operator of the Comfortable Medical Treatment section of the Hangzhou Urban Brain Health System. The Shuxin Medical Treatment Platform has created a “see a doctor first, pay later” service based on the city credit system. It can achieve good, no omissions, and real-time online clinical data in hospitals, thereby greatly optimizing the patient treatment process, improving the patient experience, standardizing the clinical diagnosis and treatment behavior of medical staff, and raising the level of operation and supervision of management departments. The core competitiveness of the medical information technology industry lies in product strength, and the company's future growth logic is the promotion and replication of products from top to bottom (from high-grade hospitals to low-level hospitals). The company's numerous customized projects for top hospitals have not only brought business revenue, but more importantly, considering that the medical informatization needs of top hospitals are often ahead of lower-level hospitals, the company can maximize its product capabilities through cooperation with top hospitals, and its product philosophy and development direction are often forward-looking and leading of the times. Through product strength and word-of-mouth effects, the company is expected to export these leading medical informatization solutions to lower-level hospitals in the future, causing a reduction in maintenance damage to medical informatization manufacturers with weak product capabilities. Investment advice: Considering the company's leading medical informatization product strength in the industry and the high prosperity of the medical informatization industry in the past two years, the company's business is expected to enter a harvest period. The EPS for 2019 and 2020 is expected to be 1.11 and 1.47 yuan, maintaining an increased holdings -A rating, and the target price for 6 months is 75 yuan. Risk warning: hospital informatization spending has declined; increased industry competition has led to a decrease in gross margin