Group 1: Business Overview - The main partners for the recharge business are Alipay, Tencent, JD.com, 360, and Xiaomi, with a recharge volume exceeding 150 billion CNY in the first half of the year, increasing from 40% to over 60% of the revenue from small commodity transaction services [2] - Card exchange business is a major source of profit, with efforts to increase market share through partnerships with mobile game manufacturers and payment platforms [2] - The comprehensive card exchange business includes services between the three major telecom operators, game recharges, e-commerce prepaid card exchanges, and future support for various loyalty and service cards [2] Group 2: Market Trends and Growth Potential - There is significant growth potential in online recharge business, with current online business accounting for 30% of the total, expected to rise to over 50% in the future [3] - The industry may experience concentration trends due to high initial investment requirements and low marginal costs, making it difficult for smaller companies to enter the market [3] Group 3: Competitive Advantages - The company’s "moat" is established through complex transaction logic and high concurrency processing capabilities, which are barriers to entry for competitors [3] - The monthly transaction volume needs to reach around 300 million CNY to break even, highlighting the necessity of large transaction volumes for profitability [3] Group 4: Future Directions - The company’s subsidiary, Gao Yang Jie Xun, holds a third-party payment license and will provide various payment solutions based on PC and mobile internet applications [3] - The company is focused on mixed-ownership reform, exploring market-based recruitment, assessment, and equity incentives to enhance management and operational efficiency [4]

Group 1: Business Overview - The company, Gao Hong Co., Ltd., has a market share of over 40% in the card exchange market, indicating strong competitive positioning [4] - The card exchange business primarily serves gaming and small payment scenarios, with a market potential of several hundred billion [4] - The gross profit margin for card exchange services is estimated to be between 2% and 5% [4] Group 2: Future Strategies - The company plans to invest significantly in personnel and technology to enhance user experience and maintain scale expansion [4] - Future market exploration includes partnerships with telecom operators and virtual operators, which are expected to drive growth [4] - The company aims to develop its own 3C accessory products, leveraging existing strong retail channels [5] Group 3: Financial Performance - After July 2014, the growth rate of recharge flow slowed down due to financing limitations, with existing funds reaching their limit [5] - Completion of a full acquisition is anticipated to improve financing capabilities and support higher transaction volumes [5] Group 4: Competitive Landscape - Gao Hong Co., Ltd. ranks first in the card exchange business, with competitors including Shen Zhou Fu, Yi Bao, and Kuai Qian, which collectively hold the remaining market share [4] - The company is actively monitoring the development of state-owned enterprise reforms to enhance management and operational efficiency [5] Group 5: Partnerships and Collaborations - The first phase of the collaboration project with China Mobile E-commerce has been implemented, with plans for nationwide expansion [5] - The company provides payment systems for small e-commerce platforms and virtual goods sales for larger e-commerce entities [5]

Group 1: Business Performance - The transaction volume of the recharge service at Gaoyang Jiexun has decreased compared to the previous period due to new competitors introduced by Tencent and Alipay [2] - Monthly transaction volume has exceeded the best monthly performance of the previous year [2] Group 2: Business Development Strategy - The company will focus on two main directions: Internet basic applications and information security [3] - Internet basic applications will adopt a B2B2C approach, with plans for platform and application development through cooperation and external mergers and acquisitions [3] - The company aims for "self-security and controllability" in information security, emphasizing internal development and cautious management of external projects [3]

证券代码：000851 证券简称：高鸿股份 大唐高鸿数据网络技术股份有限公司 投资者关系活动记录表 编号：2016-001 | --- | --- | --- | |----------------------|------------------------------|---------------------------------| | | | | | | | | | 投资者关系活动类别 | √ 特定对象调研 | □ 分析师会议 | | | □ 媒体采访 | □ 业绩说明会 | | | □ 新闻发布会 □ 现场参观 | □ 路演活动 | | | | 其他 （请文字说明其他活动内容） | | | □ 盛盈资本管理有限公司 | 袁文采 | | | | | | | 中国中投证券有限责任公司 | 霍振兴 | | | 中国中投证券有限责任公司 | 余伟民 | | | 厦门国际银行北京中关村支行 | 王震 | | 参与单位名称及人员姓 | 百业股权 高永涛 | | | 名 | 北京鹏扬投资管理有限公司 | 张佳林 | | | 中银基金管理有限公司 | 王佳晨 | | | 安邦资产管理有限责任公司 | 安尉 | | ...

证券代码：000851 证券简称：高鸿股份 大唐高鸿数据网络技术股份有限公司 投资者关系活动记录表 编号：2017-002 | --- | --- | --- | |------------------------|--------------------------------------------|----------------------------------------| | | | | | 投资者关系活动类别 | √ 特定对象调研 □ | 分析师会议 | | | □ 媒体采访 □ | 业绩说明会 | | | □ 新闻发布会 □ | 路演活动 | | | □ 现场参观 | | | | □ 其他 （请文字说明其他活动内容） | | | | 方正证券股份有限公司 侯宾 | | | | 中信建投证券股份有限公司 于海宁 | | | 参与单位名称及人员姓名 | 华融证券股份有限公司 单柏霖 | | | | 建信基金管理公司 王帆 | | | 时间 | 2017 年 9 月 8 日 | | | 地点 | 高鸿股份十一层会议室 | | | 上市公司接待人员姓名 | 高鸿股份副总经理、董事会秘书 王芊 | | ...

大唐高鸿可信计算产业发展交流 大唐高鸿数据网络技术股份有限公司 2017.7.10 www.datanggroup.cn 目录 1.可信产业背景概述 1.1 可信计算产业背景 1.2 可信计算市场分析 2.可信产业发展计划 www.datanggroup.cn 2 我国信息安全形势严峻 信息安全问题日益严重 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | | | | 2017年5月，全球大规模爆发"勒索"病毒，"疫情" 已波及99个国家。包括中国、俄罗斯、英国、美国在 内的众多国家，全球10万台电脑被感染 | | | 2014年4月，心脏出血漏洞由安全公司 Codenomicon和谷歌安全工程师发现。该漏洞可攻击 全球三分之二的网站，使黑客获得用户的银行密码、私 ...

证券代码：000851 证券简称：高鸿股份 大唐高鸿数据网络技术股份有限公司 投资者关系活动记录表 编号：2020-003 | --- | --- | --- | |----------------------------|------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：000851 证券简称：高鸿股份 大唐高鸿数据网络技术股份有限公司 投资者关系活动记录表 编号：2020-002 | --- | --- | --- | |----------------------------|--------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

证券代码：000851 证券简称：高鸿股份 大唐高鸿数据网络技术股份有限公司 投资者关系活动记录表 编号：2018-002 | --- | --- | --- | |--------------------------|-------------------------------|------------------------------------------| | | | | | | | | | 投资者关系活动类别 | □ 特定对象调研 | □ 分析师会议 | | | □ 媒体采访 | √ 业绩说明会 | | | □ 新闻发布会 | □ 路演活动 | | | □ 现场参观 | | | | □ | 其他 （请文字说明其他活动内容） | | 参与单位名称及人员姓名 | 参与贵州辖区上市公司 | 2017 年度业绩说明会 | | | 暨投资者集体接待日的投资者 | | | 时间 | 2018 年 05 月 22 日 | | | 地点 | 全景网（ http://rs.p5w.net/ | ） | | 上市公司接待人员姓名 | | 公司董事长兼总经理付景林先生、副总经理兼 | | | | 董事会秘书王芊先生、 ...

证券代码：000851 证券简称：高鸿股份 大唐高鸿数据网络技术股份有限公司 投资者关系活动记录表 编号：2018-003 | --- | --- | --- | |------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...