Core Insights - Several cybersecurity companies reported revenue growth or reduced losses in Q3 2023, driven by diversification into new business scenarios and the adoption of AI technology [1] Group 1: Revenue Growth and Loss Reduction - 360 achieved revenue of 6.068 billion yuan in the first three quarters, an increase of 8.18% year-on-year, while net losses narrowed to 122 million yuan from 579 million yuan, a reduction of approximately 78.93% [1] - Green Alliance Technology reported revenue of 1.28 billion yuan, a slight increase compared to the previous year, with net losses of 196 million yuan, a year-on-year reduction of 39.85% [1] - Companies are exploring new markets such as satellite internet and industrial control to drive revenue growth [1] Group 2: AI Integration and Innovation - AI has become a key efficiency booster in the cybersecurity industry, with 97% of surveyed companies using or planning to deploy AI-enabled cybersecurity solutions [3] - Fortinet's report indicates that 87% of industry experts expect AI to enhance efficiency, while 80% of respondents noted improvements in team productivity due to AI [3] - Companies like Green Alliance Technology are focusing on AI security, data security, and practical defense, integrating intelligent capabilities into traditional security products [4] Group 3: Investment in R&D and Technology - Shengbang Security's R&D investment reached 66.65 million yuan in the first three quarters, a year-on-year increase of 22.98%, accounting for 42.90% of revenue [6] - Qi An Xin's R&D investment totaled 835 million yuan, representing 29.41% of revenue, focusing on proactive defense and privacy computing [6] - Companies are continuously investing in technology innovation to enhance competitiveness and adapt to industry trends [6]

"近一年来，新应用、新业务涌现，海洋领域使用卫星互联网的船舶数量从2022年的500艘增至近期7.5 万艘，航空领域飞机适配数量从2024年的160架增至2025年的2000架，相关应用爆发式增长。"盛邦安全 董事长权晓文近日在公开活动中称。 北信源在语言智能与安全通信融合方面进行探索，借助AI语音翻译大模型，布局企业端和消费端市 场。一方面通过"信源密信"服务政企用户，另一方面推出"爱传"（AItran）APP，具备1至2秒低延迟、 多语同步翻译、口音识别与术语智能匹配等功能，适用于外交、政务、商用等多类场景。此外，北信源 9月还在投资者互动平台表示，公司将关注低空经济领域的发展趋势和技术进步，丰富公司产品应用。 奇安信深入探索更"专"、更高要求的工业控制领域。在投资者关系活动中，奇安信高管表示，过去安全 服务主要面向互联网领域，而生产领域有较为复杂的系统、装置，以及比较独特的协议，每个行业各有 不同。"在工业控制领域中，尤其是能源和特种行业，所需产品与整个装置装备相结合，都有明显的行 业特征。我们这部分叫作小批量行业专用产品，盈利能力较强且进入壁垒很高。今年上半年公司在这个 领域的新签订单额同比增长超过6 ...

Core Viewpoint - Shengbang Security, a leading network security solution provider in China, was established on December 7, 2010, and went public on July 26, 2023, on the Shanghai Stock Exchange. The company specializes in information security products and services, showcasing strong R&D capabilities and extensive industry experience [1]. Financial Performance - In Q3 2025, Shengbang Security reported a revenue of 155 million yuan, ranking 28th among 35 companies in the industry. The top company, iFlytek, had a revenue of 16.989 billion yuan, while the industry average was 1.838 billion yuan [2]. - The company's main business segments include network security products and services, contributing 228 million yuan (77.56%), followed by cyberspace mapping at 47.65 million yuan (16.23%), and satellite internet security at 17.94 million yuan (6.11%) [2]. - The net profit for the same period was -57.90 million yuan, placing it 18th in the industry. The industry average net profit was -98.15 million yuan [2]. Financial Ratios - As of Q3 2025, Shengbang Security's debt-to-asset ratio was 13.68%, lower than the previous year's 14.39% and significantly below the industry average of 29.42% [3]. - The gross profit margin for Q3 2025 was 72.45%, which, although lower than the previous year's 75.32%, remained above the industry average of 63.59% [3]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 25.70% to 5,160, while the average number of circulating A-shares held per shareholder decreased by 18.06% to 6,289.62 [5]. - The largest circulating shareholder was Changcheng Jiujia Innovation Growth Mixed Fund A, holding 1.7 million shares, an increase of 200,000 shares from the previous period [5]. Future Outlook - In the first half of 2025, the company achieved a revenue of 106 million yuan, reflecting a year-on-year growth of 10.98%, although profits were impacted by increased expenses [5]. - The company is involved in the national network identity authentication public service platform's security construction, which is expected to open up new opportunities as related management measures are implemented [5]. - Shengbang Security is also expanding its satellite internet security offerings, launching multiple products and developing comprehensive solutions [5]. - Future revenue projections for 2025-2027 are estimated at 385 million yuan, 501 million yuan, and 640 million yuan, with corresponding net profits of 55 million yuan, 91 million yuan, and 131 million yuan [5].

Core Viewpoint - The company emphasizes the accuracy and completeness of its quarterly report, ensuring no false statements or omissions exist, and holds legal responsibility for the report's content [2][3]. Financial Data - The financial statements for the third quarter are unaudited, indicating that the financial data may not have undergone a formal review process [3][5]. - The report covers the financial performance for the period from January to September 2025, with specific attention to the company's accounting data and financial indicators [5][6]. Shareholder Information - The report includes details about the total number of common shareholders and the status of major shareholders, although it notes that there are no changes in the top ten shareholders due to share lending activities [4][5]. Other Important Information - The company has not identified any significant non-recurring gains or losses during the reporting period, indicating a stable operational performance [3][5]. - The company will begin implementing new accounting standards starting in 2025, which may affect the financial reporting in the future [6].

Core Viewpoint - Shengbang Security (688651.SH) reported a year-on-year revenue increase of 8.49% for the first three quarters of 2025, reaching 155 million yuan, but experienced a significant increase in net loss attributed to shareholders, amounting to 54.07 million yuan, which is an increase in loss of 19.21 million yuan compared to the same period last year [1] Financial Performance - The total operating revenue for the first three quarters of 2025 was 155 million yuan, reflecting an 8.49% year-on-year growth [1] - The net profit attributable to shareholders was -54.07 million yuan, indicating a worsening loss compared to the previous year's same period, which increased by 19.21 million yuan [1] - The basic earnings per share were reported at -0.72 yuan [1]

Core Insights - The company reported a revenue of 155 million yuan for the first three quarters of 2025, representing a year-on-year growth of 8.49% [1] - Research and development investment totaled 66.6497 million yuan, showing a year-on-year increase of 22.98% [2] Business Development - The company is focusing on satellite internet security, developing new applications for low-altitude economy and commercial aerospace [1] - It is actively engaging in personal information protection under the new regulations and strengthening its network space mapping business [1] Product Innovation - The company launched a self-developed 200G high-speed link encryption gateway, which significantly outperforms traditional solutions in key metrics [2] - The company achieved second place in a national competition for AI technology applications in network security, enhancing its AI and security integration capabilities [2] Strategic Positioning - As a leading provider of integrated air-space-ground security products, the company is committed to increasing R&D investment and optimizing its product matrix [2] - The company aims to capture opportunities in satellite internet security and network identity authentication, enhancing its market competitiveness and technological innovation [2]

Core Viewpoint - The company, Shengbang Security, reported a revenue of 155.35 million yuan for the first three quarters of 2025, marking an 8.49% year-on-year increase, while R&D investment reached 66.65 million yuan, up 22.98% year-on-year, indicating strong growth in satellite internet security and related sectors [2][3]. Group 1: Financial Performance - The company achieved a revenue of 155.35 million yuan in the first three quarters of 2025, reflecting an 8.49% increase compared to the previous year [2]. - R&D investment for the same period was 66.65 million yuan, which is a 22.98% increase year-on-year [3]. Group 2: Business Development and Innovations - Shengbang Security is focusing on satellite internet security, developing new applications for low-altitude economy and commercial aerospace, and enhancing personal information protection under new regulations [2]. - The company launched a 200G high-speed link encryption gateway product, which significantly outperforms traditional solutions in key metrics, establishing a new industry benchmark in global high-speed communication security [3]. - The company has been recognized as a key technical support unit for cybersecurity by various government bodies, and it released the first annual report on dark web monitoring in the industry [3]. Group 3: Strategic Focus - The company adheres to a development philosophy of "precision, focus, and depth," continuously increasing R&D investment and optimizing its product matrix to strengthen its advantages in network security and spatial mapping [4]. - Shengbang Security aims to seize opportunities in satellite internet security and network identity authentication, enhancing its scale, technological innovation capabilities, and market competitiveness [4].

远江盛邦安全科技集团股份有限公司 2025 年第三季度报告 证券代码：688651 证券简称：盛邦安全 远江盛邦安全科技集团股份有限公司 2025 年第三季度报告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 （二） 非经常性损益项目和金额 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 单位：元 币种：人民币 | | | 本报告期比 | | 年初至报告期 | | --- | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (%) | | (%) | | 营业收入 | 49,833, ...

Core Viewpoint - The launch of the 200G high-speed link encryption gateway by Shengbang Security is a significant advancement in addressing the challenges of speed and security in data transmission, with the potential to enhance performance in various industries [2][3]. Group 1: Product Launch and Specifications - Shengbang Security officially launched its self-developed 200G high-speed link encryption gateway at the 22nd China Information and Communication Security Academic Conference [2]. - The device achieves a decryption and encryption throughput capacity of 200Gbps, doubling the previous global record, with a latency of only 3 microseconds [2]. - Traditional encryption devices have a throughput capacity of only 40Gbps domestically and 100Gbps internationally, with latencies ranging from 1 to 10 milliseconds [2]. Group 2: Technological Advancements - The product represents a generational leap in communication encryption capabilities, supporting domestic commercial encryption algorithms with 100% self-control over core algorithms and hardware environments [3]. - It features a patented group encryption system based on national secret algorithms, overcoming limitations of point-to-point tunnel encryption [3]. - The gateway is designed to accommodate future quantum encryption scenarios with capabilities for quantum key distribution and anti-quantum algorithms [3]. Group 3: Industry Applications - In the satellite internet sector, the gateway addresses full-link encryption needs for satellite internet backbone links, ground stations, and data centers, effectively mitigating risks of signal interception and data tampering [3]. - The high-speed encryption capability ensures data security for cross-regional computing resource scheduling in critical infrastructure, while its low-latency characteristics meet the real-time data transmission requirements for AI training [3].

Market Overview - On October 20, the software development sector rose by 0.68%, with Jida Zhengyuan leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Top Gainers in Software Development Sector - Jida Zhengyuan (003029) closed at 26.57, up 10.02% with a trading volume of 152,300 shares and a transaction value of 397 million [1] - Shengbang Security (688651) closed at 39.61, up 9.48% with a trading volume of 47,900 shares and a transaction value of 187 million [1] - Lvzhi Technology (300369) closed at 7.74, up 6.76% with a trading volume of 559,000 shares and a transaction value of 441 million [1] - Anheng Information (688023) closed at 51.73, up 5.64% with a trading volume of 44,200 shares and a transaction value of 227 million [1] - Keda Guochuang (300520) closed at 27.42, up 5.46% with a trading volume of 316,900 shares and a transaction value of 860 million [1] Top Losers in Software Development Sector - Information Development (300469) closed at 72.67, down 8.20% with a trading volume of 153,200 shares [2] - Foxit Software (688095) closed at 70.39, down 2.91% with a trading volume of 20,800 shares [2] - Zhongdian Bilong (002298) closed at 11.70, down 2.90% with a trading volume of 1,250,900 shares [2] Capital Flow Analysis - The software development sector experienced a net outflow of 1.806 billion in main funds, while retail investors saw a net inflow of 1.484 billion [2][3] - Jida Zhengyuan had a main fund net inflow of 135.6 million, but retail investors had a net outflow of 68.1 million [3] - Keda Guochuang saw a main fund net inflow of 334.0 million, while retail investors had a net outflow of 385.4 million [3]