Event: according to the company's answer to investors' questions on February 4, Beixinyuan recently decided to open its secure communication aggregation platform Xinyuan Doudou free of charge from now on to June 30, 2020, as well as some platform applications free of charge. to facilitate users to better telecommute and communicate during the epidemic.

Xinyuan Doudou provides a telecommuting platform for enterprises and builds an emergency command and communication system for the government and hospitals. Xinyuan Doudou is a secure communication aggregation platform with "secure connection, intelligent aggregation" as the core concept, private server as the carrier and instant messaging as the basis. The remote collaborative office functions provided by Xinyuan Doudou, such as instant messaging, video conference, mobile phone attendance punch, security cloud disk, and so on, have become standard for secure office during the current epidemic period. In addition, Xinyuan Doudou also provides a unique secure telecommuting function, which supports many types of third-party applications and can be seamlessly integrated with users' existing business. In addition, based on Xinyuan Doudou, the company quickly launched a special solution, that is, the epidemic emergency command and communication system, to help national governments at all levels, medical management units, hospitals, etc., to quickly build a safe and stable emergency command system during the epidemic, and to help jointly deal with public health events such as the COVID-19 epidemic.

Government, military and energy multi-industry units have been applied, and Xinyuan Doudou has joined hands with Huawei to speed up the promotion. The company has continuously invested in the development of Xinyuan Doudou, a secure and reliable instant messaging platform based on private servers, which is equipped with an open platform. add cloud disk applications, mail systems, attendance systems, approval, schedule management, video conferencing, live meetings and other high-quality standard office applications. It has been deployed and applied in the Ministry of Public Security, Internet Information Office, Aerospace Science and Industry Group, Bank of China Ltd., people's Bank of China Clearing Center and many other government, military, financial and energy industry units, and has been widely praised by industry users. The company signed a strategic cooperation agreement with Dingqiao Communication to accelerate the channel promotion of domestic security products represented by Xinyuan Doudou, which is expected to be promoted on a large scale in the party, government and military, large-scale enterprises and overseas areas.

With the acceleration of information innovation, a number of products of the company have been selected into the adaptation list. Under the stimulation of trade frictions, the national policy continues to increase, the independent controllable demand enters the landing year, and the special computers using domestic CPU, domestic operating systems and supporting information security products enter the stage of extensive promotion and equipment, providing a new round of driving force for the promotion and application of a series of security products based on domestic operating systems. A number of domestic safety products have been selected into the adaptation list of domestic information products.

Investment suggestion: under the catalysis of policy, technology and market, Anke ushered in the policy landing, and a number of products of the company were shortlisted in the "Purchasing list". At the same time, the company's source Doudou was applied in the government, finance and other fields. The company's 2019-2021 net profit is expected to be 0.28 million respectively, maintaining a "buy" rating.

Risk tips: increased competition in the industry; government investment in security information products is not as expected; Xinyuan Doudou promotion is not as expected; key assumptions may have the risk of errors.