转自：前瞻产业研究院 以下数据及分析来自于前瞻产业研究院防火墙研究小组发布的《中国防火墙行业市场前瞻与投资战略规 划分析报告》。 行业主要上市公司：深信服(300454.SZ);天融信(002212.SZ);山石网科(688030.SH);迪普科技(300768.SZ); 锐捷网络(301165.SZ);启明星辰(002439.SZ);奇安信(688561.SH);绿盟科技(300369.SZ)等 本文核心数据：中国防火墙行业上市企业营业收入;中国防火墙行业上市企业毛利率;中国防火墙行业上 市企业存货周转率;中国防火墙行业上市企业资产负债率等 防火墙行业代表性上市企业情况 前瞻选取深信服、天融信、山石网科、迪普科技、启明星辰、奇安信、绿盟科技等代表性企业经营效益 分析整个行业经营效益。具体情况如下： 中国防火墙行业经营情况：代表性企业整体经营状况稳定 从我国防火墙行业营业收入水平来看，2020-2024年，防火墙行业上市公司营业收入整体呈现稳定的趋 势。其中，虽然天融信和启明星辰5年间营业收入整体下滑，但是2024年中国防火墙行业代表性上市公 司营收均值近似于2020年水平。 中国防火墙行业盈利能力：代表性企 ...

Core Viewpoint - The company is actively monitoring developments in the quantum technology sector and is exploring the application of quantum technology in network security, as well as providing security services for quantum communication scenarios [1] Group 1 - The company is focused on the advancements in quantum technology [1] - The company is investigating the implementation of quantum technology in the field of network security [1] - The company aims to offer network security assurance services for quantum communication applications [1]

Core Viewpoint - The Chinese firewall market is experiencing rapid growth, driven by the digital transformation of enterprises and increasing network security demands, with the market size expected to reach $2.8 billion by 2024 [15]. Industry Overview - Firewalls are essential network security devices that monitor, filter, and control network traffic based on predefined security policies, serving as the first line of defense against cyber threats [1]. - Firewalls can be categorized into traditional firewalls, Unified Threat Management (UTM) firewalls, Next-Generation Firewalls (NGFW), and AI firewalls, with NGFW integrating multiple security functions for improved performance [1][2]. Industry Chain Analysis - The firewall industry chain consists of upstream hardware components (chips, hard drives, etc.), midstream firewall products, and downstream application sectors including government, finance, telecommunications, and energy [5]. - Key upstream hardware companies include Loongson Technology and Huawei, while midstream product suppliers include Huawei, Sangfor, and Hillstone Networks [5]. Industry Development History - The firewall industry has evolved from simple packet filtering in 1989 to advanced AI firewalls that utilize machine learning for threat detection, addressing complex cyber threats [7]. Policy Background - The Chinese government emphasizes the importance of network security in its "14th Five-Year Plan," establishing a solid policy foundation for the firewall industry [9]. Market Size and Growth - The Chinese firewall market is projected to grow significantly, with a compound annual growth rate (CAGR) of 4.9% from 2025 to 2030, reaching approximately $3.7 billion by 2030 [25]. Competitive Landscape - The firewall industry is concentrated in Beijing and Guangdong, with major players like Qihoo 360 and Sangfor located in these regions, facilitating collaboration and resource sharing [17][21]. - The market features numerous participants, with competition and cooperation occurring simultaneously among various companies [20]. Future Trends and Predictions - The industry is shifting towards intelligent firewalls and adapting to new architectures, with AI and machine learning becoming core upgrade directions [23]. - The market is also seeing a transition from product sales to service-oriented models, such as "Firewall as a Service," which lowers initial costs for small and medium enterprises [24].

Core Viewpoint - Dipu Technology's stock has experienced fluctuations, with a recent decline of 2.02% and a total market capitalization of 12.49 billion yuan, reflecting a mixed performance in the stock market [1]. Financial Performance - For the period from January to September 2025, Dipu Technology reported a revenue of 871 million yuan, representing a year-on-year growth of 6.28%, while the net profit attributable to shareholders was 93.60 million yuan, up by 1.32% [2]. - Since its A-share listing, the company has distributed a total of 313 million yuan in dividends, with 152 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders increased to 26,700, marking an 8.82% rise, while the average circulating shares per person decreased by 8.10% to 15,774 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 3.91 million shares, a decrease of 3.49 million shares compared to the previous period [3]. Stock Performance - Year-to-date, Dipu Technology's stock price has increased by 11.36%, but it has seen a decline of 6.91% over the last five trading days and 16.34% over the last twenty days [1]. - The stock has shown a modest increase of 5.66% over the past sixty days [1]. Business Overview - Dipu Technology, established on May 28, 2008, and listed on April 12, 2019, specializes in the research, development, production, and sales of enterprise-level network communication products, with a revenue composition of 64.81% from network security products and 34.23% from application delivery and network products [1]. - The company operates within the computer software development sector and is involved in various concept sectors including cloud computing, financial technology, quantum technology, switches, and tax informationization [1].

证券日报网讯 11月19日晚间，迪普科技发布公告称，持股5%以上股东周顺林持有本公司股份40， 158，176股（占公司总股本比例6.24%），计划自本公告日起15个交易日之后的3个月内（2025年12月 11日至2026年3月10日）以集中竞价或大宗交易等深圳证券交易所认可的方式减持公司股份合计不超过 1，000万股（占公司总股本比例1.55%，占公司总股本剔除回购股份后股份总数的1.57%）。 （文章来源：证券日报） ...

Group 1: Company Buybacks - Longlide plans to repurchase company shares for no less than 56 million yuan [2] - Hanshuo Technology has obtained a commitment letter for a stock repurchase loan from a financial institution [2] - Prolo Pharmaceutical intends to use between 180 million to 360 million yuan to buy back company shares [2] Group 2: Company Sell-offs - Suda Co., Ltd. plans to reduce its holdings by no more than 3% [2] - Hunan Baiyin intends to reduce its holdings by no more than 1.95% [2] - Zimi Co., Ltd. plans to reduce its holdings by no more than 1% [2] - Zhongshui Fishery's third-largest shareholder has reduced its holdings by 2.5888 million shares, bringing its stake down to 5% [2] - We Online's investors plan to collectively reduce their holdings by no more than 5.94% [2] - Renmin Tongtai's controlling shareholder plans to reduce its holdings by no more than 1% [2] - Yanshiwei's fourth and fifth largest shareholders plan to reduce their holdings by no more than 1.5% and 1% respectively [2] - Langke Intelligent's shareholders plan to reduce their holdings by no more than 1.68% [2] - Yingben Co., Ltd.'s director plans to reduce his holdings by no more than 0.03% [2] - Sunshine Power has completed the implementation of share reduction plans by some directors and senior management [2] - Dipu Technology's shareholder plans to reduce his holdings by no more than 1.55% [2] - MediWest's shareholder plans to reduce his holdings by no more than 1.64% [2] - Huahai Qingke's shareholder plans to reduce his holdings by no more than 1% [2] - Liyuan Technology's shareholder plans to reduce his holdings by no more than 2.0303% [2] - New Emerging Equipment's shareholders plan to collectively reduce their holdings by no more than 3.13% [2] - Jinqiao Information's director plans to reduce his holdings by no more than 0.0675% [2] - Kanglongda's shareholder plans to reduce his holdings by no more than 3% [2]

格隆汇11月19日丨迪普科技(300768.SZ)公布，持股5%以上股东周顺林持有本公司股份40,158,176股（占 公司总股本比例6.24%），计划自本公告日起15个交易日之后的3个月内（2025年12月11日至2026年3月 10日）以集中竞价或大宗交易等深圳证券交易所认可的方式减持公司股份合计不超过1,000万股（占公 司总股本比例1.55%，占公司总股本剔除回购股份后股份总数的1.57%）。 ...

每经头条（nbdtoutiao）——爱泼斯坦案文件解密倒计时，美国会"秒过"法案直通特朗普，引爆两党"极 限撕扯" 2025年1至6月份，迪普科技的营业收入构成为：运营商占比28.58%，其他业务占比24.9%，政府占比 16.65%，公共事业占比15.64%，金融占比14.24%。 截至发稿，迪普科技市值为127亿元。 每经AI快讯，迪普科技（SZ 300768，收盘价：19.8元）11月19日晚间发布公告称，持股5%以上股东周 顺林持有公司股份约4016万股（占公司总股本比例为6.24%），计划自本公告日起15个交易日之后的3 个月内（2025年12月11日至2026年3月10日）以集中竞价或大宗交易等深圳证券交易所认可的方式减持 公司股份合计不超过1000万股（占公司总股本比例为1.55%，占公司总股本剔除回购股份后股份总数的 1.57%）。 （记者 曾健辉） ...

迪普科技（300768）(300768.SZ)公告，公司股东周顺林计划自本公告日起15个交易日之后的3个月内 (2025年12月11日至2026年3月10日)以集中竞价或大宗交易等深圳证券交易所认可的方式减持公司股份 合计不超过1000万股(占公司总股本比例1.55%，占公司总股本剔除回购股份后股份总数的1.57%)。 ...

南财智讯11月19日电，迪普科技公告，持股5%以上股东周顺林持有公司股份40,158,176股（占公司总股 本比例6.24%），计划自本公告日起15个交易日之后的3个月内（2025年12月11日至2026年3月10日）以 集中竞价或大宗交易等方式减持公司股份合计不超过1,000万股（占公司总股本比例1.55%，占扣除回购 股份后总股本比例的1.57%）。本次减持原因为个人资金需求，股份来源为首次公开发行前的股份及资 本公积金转增股份。减持价格将根据市场价格确定。周顺林承诺在任意连续九十个自然日内，采取集中 竞价交易方式减持的股份总数不超过公司总股本的1%，采取大宗交易方式的不超过2%。截至公告日， 该股东严格履行了此前各项承诺，本次减持不会导致公司控制权变更，也不会对公司治理结构及持续经 营产生重大影响。 ...