Announcement summary: (1) The company released its results forecast for the third quarter of 2015. Net profit for the first three quarters is expected to be 112-120 million yuan, up 274%-300% year on year, of which Q3 net profit is 5650-61 million yuan, up 235%-262% year on year. (2) The subsidiary Broadwing Communications has obtained 2 patent certificates issued by the State Intellectual Property Office: a USB-powered 4G router and a portable 3.5G router. The performance is in line with expectations, and the epitaxial development is worthy of recognition. Focusing on the “communication manufacturing+information service” strategy, the company has achieved three acquisitions in three years, greatly increasing its business scale and profitability. The acquisition of Shanghai Broadwing was completed in August 2013, and consolidated throughout 2014. Its communication terminal products evolved from 3G to 4G data cards, routers, etc., and gradually expanded its overseas market business. The acquisition of Guodu Internet was completed in September 2014. Basically, the merger began in October, and all of them were included in the scope of the merger from January to September 2015. The mutual advertising acquisition was completed in June 2015, and the consolidated statement was entered in July. As a result of the merger and acquisition, the company's net profit for the first three quarters increased significantly compared to the same period of the previous year. Looking at the business spin-off, we expect Traditional+ Broadwing to be 20-30 million, the national capital of 60-70 million, and Huzhou Q3 to be combined for 20-30 million. The results are in line with expectations. “Digital marketing+corporate SMS” have gone hand in hand, and growth is outstanding. Guodu has outstanding competitiveness in corporate short MMS business and operation services. Revenue and profit growth has exceeded market expectations, and it has led the layout of traffic backward operation, and is the next blue ocean market. The growth rate of 15H1's corporate SMS business has reached 50%, and it is expected to maintain a compound growth of 30% over the next three years. An SSP that entered the digital marketing industry chain earlier, is both scarce and profitable, and is compatible with over 100 billion Internet advertising market space. In 2015, H1's revenue increased by about 150% year on year, and profit is expected to increase by 300%. As media resources continue to expand and mobile platforms are deployed, the company is expected to continue to grow at a high rate. The two businesses are currently the main driving forces of the company, and the synergy effects will also become more obvious through resource integration. Plan to expand the layout of smart courier cabinets, and extend the information service strategy to community O2O. The company plans to increase the 1.17 billion yuan smart courier cabinet project to solve the “last mile” of express delivery to users, and at the same time seize the community's O2O entrance. On this basis, the value of Internet information services is huge. The company expects an average annual revenue of 1.34 billion yuan and net profit of 198 million yuan during the project operation period, which is expected to increase new profit growth points. Investment advice: Wutong Communications has achieved leapfrog development through mergers and acquisitions strategies, and is optimistic about the company's development potential in the field of Internet information services. Without considering the smart courier cabinet project, we expect the company's 2015-2016 EPS to be 0.79 yuan (annual exam preparation) and 1.11 yuan respectively, maintaining the buy-B rating, and the target price is 44.20 yuan. Risk Warning: Risk of subsidiary performance falling short of expectations; fixed increase projects falling short of expectations