Guoxin Holdings and ZTE signed a “Strategic Cooperation Framework Agreement” with broad prospects for 5G industry applications. The two sides agreed to give full play to the advantages of talents, technology, markets and other resources in their respective fields, carry out extensive strategic cooperation, and form a comprehensive strategic partnership. The two sides will develop multi-dimensional cooperation around the deep integration of 5G and other technologies with the industry. 1. The two sides jointly explore the deep integration of 5G and other technologies and industries, and carry out comprehensive cooperation at the level of overall solutions, pilot demonstrations, market expansion, project promotion, implementation and delivery, and operation services. 2. Take advantage of ZTE's advantages in 5G and other technologies and products, Guoxin Culture's advantages in the education industry, jointly study 5G-based business application scenarios, conduct in-depth cooperation in 5G network construction, 5G innovative application scenarios, program research, and related standards and topics, accelerate the development and commercialization process of new 5G applications, and jointly create 5G industry application models. 3. ZTE uses its 4G, 5G, SDN/NFV network laboratories to provide a testing environment for forward-looking application research for ZTE and partners. 4. The two sides agreed to strengthen cooperation on the brand side. As partners, the two sides support each other in brand events such as demonstrations, summits, and exhibitions; when promoting the results of cooperation with the outside world, both parties must go through review by other parties, and if they need to use any other party's brand in promotion, they should obtain the consent of the brand owner in advance. The resource endowments of state-owned enterprises are of remarkable value, exploring fully connected smart education solutions. In order to meet the expansion needs of regional projects, Owea has launched a dedicated classroom and online joint school solution to solve the problem of uneven regional education development from a technical point of view. In the future, based on ZTE's advantages in 5G and other technologies and products, and Guoxin Culture's advantages in fully connected smart teaching solutions, etc., it will help the company explore the deep integration of 5G and other technologies with the education industry, expand 5G-based business application scenarios, and accelerate the creation of 5G industry application models. Maintain profit forecasts and give buying ratings. The company will continue to focus closely on the goals and tasks of the Education Informatization 2.0 Action Plan and the development trend of education informatization, and fully implement the “336 Strategy”. In other words, according to the company's characteristics as a merger and acquisition enterprise, it builds research capabilities to support global development, industrial chain integration capabilities with core competitiveness, and national sales capabilities with strong channel resources and financial support. We expect the company's EPS in 20-22 to be 0.56 yuan, 0.68 yuan, and 0.81 yuan, respectively, and PE 20x, 17x, and 14x, respectively. Risk warning: This strategic cooperation agreement is a framework agreement on the willingness of the two parties to cooperate. It does not involve a specific amount of money. Whether a formal project can be signed later. Currently, Guoxin Culture's main business is education informatization and chemical business, and there are no plans to enter 5G-related basic technology and product fields; furthermore, no 5G-related technical personnel have been prepared, so there is still great uncertainty about the progress of implementation of cooperation projects between the two sides.