Matters: On August 2, 2019, the company announced that from July 15 to August 1, Gree Investment increased its holdings of Obit by 35,107,969 shares, accounting for 5% of Obit's total share capital, by 35,107,969 shares through the centralized bidding trading system and bulk trading of the Shenzhen Stock Exchange. After this equity change is completed, Gree Gold Investment plans to continue to increase its holdings in Orbit over the next 12 months. Comment: State-owned strategic investment is expected to promote the company's business development. Zhuhai Gree Group Co., Ltd., the controlling shareholder of Gree Capital Investment, is optimistic about Obit's future development prospects and is interested in strategically investing in Orbit, so Gree Capital is increasing its holdings in Orbit through the secondary market. The average price of this increase in holdings is around 10.58 yuan. After the equity changes are completed, Gree Gold Investment plans to continue to increase its holdings in Obit over the next 12 months. The company is a leading company in the field of satellite remote sensing in China. It has core technology from aerospace core chip design to satellite terminal research and development. This state-owned strategic investment is expected to promote the development of the company's satellite big data business. Orbit, a leading company in the field of satellite remote sensing in China, is engaged in the development and production of aerospace electronics, micro-nano satellite constellations, satellite big data, artificial intelligence technology and products, serving the fields of aerospace, national defense industry, geographical information, land resources, agriculture, forestry, animal husbandry and fishing, environmental protection, transportation, smart cities, modern finance, and mass consumption. The company mainly focuses on three areas of business: the field of aerospace electronics. The company is committed to the development, design, production and sales of embedded SOC processor chips, SIP three-dimensional packaging module/systems, and EMBC aerospace bus control systems. It is a benchmark enterprise for China's aerospace SPARC V8 processor SOC chips and a pioneer of SIP three-dimensional packaging modules/systems; in the field of artificial intelligence, the company actively develops aerospace AI chips (with stronger processing capabilities for fuzzy logic, neural networks, deep learning, etc.), and AI algorithms for satellite big data processing and In the field of deep learning systems and satellite big data, the company has built a “satellite space information platform” with high spatial and temporal resolution based on the “Zhuhai-1” remote sensing micro-nano satellite constellation composed of dozens of videos, hyperspectral, radar, and infrared satellites. It will have a high level of application service and capabilities, and create a new industry: satellite big data. The “Zhuhai-1” satellite constellation established the Orbit Sky and Earth integrated data collection system. In 2018, the company completed the initial construction of the “Zhuhai-1” satellite constellation (7 satellites in orbit). Based on this, the company built a space-ground integrated data collection system to promote the construction of data storage, cloud platforms, data processing and application service platforms, and has the ability to provide “region+industry+Internet” services to meet the different needs of the government, enterprises and the public. Investment advice: Be optimistic about the development of domestic satellite big data and the company's leading position. The company is a leading company in the field of satellite remote sensing, with core technology from aerospace core chip design to satellite terminal development. With the smooth launch and initial operation of its own satellite constellation “Zhuhai-1”, the company already has satellite big data service capabilities, and is expected to set a project benchmark in Zhuhai and open up a business model for satellite big data services. We expect the company to enter a stage of rapid development. We expect the company's net profit in 2019-2021 to be 1.42/2.28/305 million yuan respectively, corresponding to a price-earnings ratio of 54/33/25 times. Considering the rapid growth period of the satellite big data industry and the company's resource endowment, the company maintains a “buy” rating. Risk warning: the development of the satellite big data industry falls short of expectations; price war