Incident: The company issued an announcement: The company signed a “Research Project Contract of the Ministry of Housing and Urban-Rural Development” with the Urban Management and Supervision Bureau of the Ministry of Housing and Construction. As the undertaker, the company is mainly responsible for carrying out key technical research topics on integrated urban management service platforms, studying the innovation and application of blockchain technology in the field of urban management, with research funding of 352,000 yuan. Exploring the application of blockchain in the field of urban management is worth looking forward to. According to the announcement, the company's main research on this topic includes four aspects: (1) Studying the content, characteristics and key technologies of blockchain technology, and analyzing its development status and application prospects. (2) Research the application of blockchain technology in the field of urban management. (3) Conduct blockchain-based urban integrated management service government alliance chain research. (4) Conduct research on application scenarios of blockchain in the field of urban management. While presiding over the 18th collective study of the Political Bureau of the Central Committee, General Secretary **** emphasized the need to accelerate the development of blockchain technology and industrial innovation. The company also established the Digital Governance and Urban Governance Blockchain Application Research Institute in January 2020. The project acceptance this time is a pre-research exploration of application implementation. Follow-up progress and promotion potential are worth looking forward to. Optimistic that the promotion of urban management service platforms brings new opportunities for growth, the company, as an industry leader with 70% market share in the field of grid city management, is the standard editor-in-chief of the “Technical Standards for Integrated Urban Management Service Platforms (Draft for Comments)” issued by the Ministry of Housing and Construction at the end of 2019. According to the document plan, a three-level platform system at the national, provincial and municipal levels will be set up to speed up the construction of a comprehensive urban management service platform. As the pilot promotion begins, it will bring new demand for direct system upgrades and iterations, and the company will benefit significantly. Up to now, the community epidemic prevention and control system developed by the company has clearly required deployment in more than 100 cities and counties to effectively help monitor the epidemic. As the integration of multiple networks is carried out to help the company's customers expand to more government departments, it will also bring new potential incremental market opportunities. Investment advice: Maintain the company's 2019-2021 EPS of 0.32, 0.43, and 0.73 yuan/share, respectively, and maintain the “buy” rating. Risk warning: Market promotion falls short of expectations, risk of loss of goodwill.