What does "Mao follow the ancient precepts, Guangzhuang Xinyou" mean?

This is a work by Hua Shikui (1863-1941, courtesy name Qichen, alias Bichen, Han nationality, host in Wuxi, Jiangsu, and later moved to Tianjin), one of the Eight Great Masters of Tianjin.

Mao [mào]’s basic meaning:

1. Work hard.

2. Same as "mao" in ancient times, grand.

3. Encouragement, encouragement.

4. Beauty.

5.Happy.

The basic meaning of 猷[yóu]:

Strategy, plan, plan: new~. Macro~. Hong~.

Now that you know these two words, you should be able to understand the general meaning of this couplet, right?