Investment Rating - The investment rating for the company is "Buy-A" with a 6-month target price of 15.47 CNY, while the current stock price is 11.87 CNY [1][6]. Core Insights - The company has shown robust revenue growth, achieving 502 million CNY in revenue for the first half of 2024, representing a year-on-year increase of 13.63%. The second quarter alone saw a revenue increase of 17.42% [2][3]. - The net profit attributable to shareholders for the first half of 2024 reached 52 million CNY, up 32.09% year-on-year, with Q2 net profit soaring by 127.23% [2][3]. - The company has successfully implemented a counter-cyclical expansion strategy, particularly in the government sector, which grew by 13.54% despite external pressures [3][4]. - The overall gross margin improved to 74.24%, an increase of 5.04 percentage points year-on-year, reflecting enhanced management capabilities and operational quality [3][4]. - The company is focusing on high-value clients in sectors such as telecommunications, finance, and energy, while also expanding into government and enterprise markets [6]. Financial Performance Summary - For the first half of 2024, the company reported a gross margin of 74.24%, with a decrease in the expense ratio across sales, management, and R&D [3]. - The cash flow from operating activities turned positive, with a net operating cash flow of 58 million CNY, indicating improved cash collection and operational quality [3]. - Revenue projections for 2024, 2025, and 2026 are estimated at 1.23 billion CNY, 1.47 billion CNY, and 1.77 billion CNY respectively, with net profits expected to reach 166 million CNY, 210 million CNY, and 266 million CNY [6][9].

Investment Rating - The report assigns a "Buy-A" rating for the company, indicating an expected price increase of over 15% compared to the benchmark index within 6-12 months [2][3]. Core Views - The company has demonstrated robust revenue growth, with a 13.63% year-on-year increase in revenue for the first half of 2024, reaching 502 million yuan, and a 32.09% increase in net profit, amounting to 52 million yuan [2][3]. - The company's main business line, network security products, has been a significant driver of revenue growth, achieving a 12.55% increase in revenue to 366 million yuan in the first half of 2024 [3]. - The company is expected to continue growing alongside the development of the security industry, leveraging self-developed hardware and promoting application delivery products to enhance profitability [3]. Financial Performance - For the first half of 2024, the company reported a gross margin of 68.54%, an increase of 1.07% year-on-year, primarily due to improved margins in application delivery and network products [3]. - The company’s net profit margin reached 10.36%, up 1.45% year-on-year, reflecting effective cost control measures [3]. - The forecasted earnings per share (EPS) for 2024-2026 are projected to be 0.24, 0.30, and 0.37 yuan, respectively, with corresponding price-to-earnings (P/E) ratios of 47.71, 38.48, and 31.18 [3][5]. Market Segmentation - Government client revenue reached 161 million yuan in the first half of 2024, a year-on-year increase of 13.54%, with a gross margin of 78.94% [1]. - Revenue from operator clients was 135 million yuan, a decrease of 10.37% year-on-year, primarily due to the timing of revenue recognition [1]. - Public utility client revenue grew by 7.94% year-on-year, reaching 84 million yuan, making it the company's third-largest downstream sector [1].

| 序号 | 账户名称 | 开户机构 | 账号 | 中国建设银行股份有限公 | | --- | --- | --- | --- | --- | | 1 | 杭州迪普科技股份有限公司 | 33050261622700000116 | 司杭州吴山支行 | | 根据《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》及 《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等法律 法规的相关规定，上述账户将专用于暂时闲置募集资金进行现金管理的结算，不会用于 存放非募集资金或用作其他用途。 特此公告。 杭州迪普科技股份有限公司 证券代码：300768 证券简称：迪普科技 公告编号：2024-050 杭州迪普科技股份有限公司 关于开立募集资金现金管理专用结算账户的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 杭州迪普科技股份有限公司（以下简称"公司"）于2024年8月5日召开的第三届董 事会第七次会议及第三届监事会第七次会议，审议通过了《关于使用暂时闲置募集资金 及自有资金进行现金管理的议案》，同意根据公司（含全资子公司杭州 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [6][7]. Core Insights - The company achieved steady revenue growth with a total revenue of 502.46 million yuan in the first half of 2024, representing a year-on-year increase of 13.63%. The net profit attributable to shareholders reached 52.06 million yuan, up 32.09% year-on-year [3]. - The company continues to deepen its business with the three major telecom operators and has seen rapid growth in the government sector, with revenue from government clients reaching 161 million yuan, a year-on-year increase of 13.54% [4]. - The integration of AI technology is enhancing the company's cybersecurity capabilities, significantly improving efficiency in threat detection and response [5]. Financial Performance - The company reported a net cash flow from operating activities of 57.82 million yuan, a substantial increase of 190.93% year-on-year [3]. - Revenue from cybersecurity products was 366 million yuan, with a gross margin of 71.04%, while application delivery and network products generated 93 million yuan, with a gross margin of 60.66%, reflecting a 10.49 percentage point increase [3]. - The forecast for revenue from 2024 to 2026 is projected to be 1.208 billion, 1.384 billion, and 1.550 billion yuan, respectively, with net profits expected to be 157.18 million, 200.40 million, and 246.32 million yuan [6][9]. Market Position - The company is recognized as a leading provider of comprehensive cybersecurity products and operational solutions, with a strong presence in various sectors including government, telecommunications, and public utilities [4][5]. - The company has established itself as a strategic partner in the electronic government security field, providing robust cybersecurity solutions to multiple government agencies [4].

Investment Rating - The investment rating for the company is "Buy" (maintained) [3] Core Insights - The company reported a revenue of 502 million yuan for the first half of 2024, representing a year-on-year growth of 13.63%. The net profit attributable to shareholders was 52 million yuan, up 32.09% year-on-year, while the net profit excluding non-recurring items was 46 million yuan, also up 32.34% year-on-year. The gross margin stood at 68.54%, an increase of 1.06 percentage points year-on-year [2][5] - In Q2 2024, the company achieved a revenue of 248 million yuan, a year-on-year increase of 17.42%. The net profit attributable to shareholders was 15 million yuan, a significant increase of 127.23% year-on-year, and the net profit excluding non-recurring items was 13 million yuan, up 266.38% year-on-year. The gross margin for this quarter was 67.66%, up 2.62 percentage points year-on-year [2][5] Financial Performance Summary - For the first half of 2024, government client revenue was 161 million yuan, a year-on-year increase of 13.54%, while operator client revenue was 135 million yuan, a year-on-year decrease of 10.37%. Public utility client revenue was 84 million yuan, up 7.94% year-on-year [6] - The company’s sales expenses for the first half of 2024 were 192 million yuan, an increase of 3.71% year-on-year, while management expenses were 21 million yuan, up 18.95% year-on-year. R&D expenses were 128 million yuan, a growth of 5.33% year-on-year [6] - The company is expected to achieve revenues of 1.259 billion yuan, 1.563 billion yuan, and 1.928 billion yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of 21.76%, 24.18%, and 23.35% [6][10] Valuation Metrics - The estimated earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 0.26 yuan, 0.34 yuan, and 0.44 yuan respectively, with a three-year compound annual growth rate (CAGR) of 30.49% [6][10] - The price-to-earnings (P/E) ratio is expected to decrease from 50.6 in 2022 to 27.0 by 2026, indicating a more favorable valuation over time [10]

Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Insights - The company reported a revenue of 502 million yuan for the first half of 2024, representing a year-on-year growth of 13.63%. The net profit attributable to shareholders was 52 million yuan, up 32.09% year-on-year [2] - The government sector showed strong performance, benefiting from a counter-cyclical expansion strategy, with revenue of 161 million yuan, a year-on-year increase of 13.54% [3] - The company's gross margin improved to 68.54% in the first half of 2024, an increase of 1.07 percentage points year-on-year, driven by a significant rise in the gross margin of application delivery products [4] - The company has been executing an orderly expansion strategy since 2022, with a notable increase in R&D and sales personnel, which is expected to sustain growth in 2024 [5] - Revenue projections for 2024-2026 are estimated at 1.227 billion, 1.437 billion, and 1.652 billion yuan, with corresponding net profits of 158.56 million, 191.82 million, and 237.95 million yuan, reflecting growth rates of 25.21%, 20.98%, and 24.05% respectively [6] Summary by Sections Financial Performance - The company achieved a revenue of 502 million yuan in H1 2024, with a net profit of 52 million yuan, marking a 32.09% increase year-on-year [2] - The gross margin for H1 2024 was 68.54%, up 1.07 percentage points from the previous year, attributed to improved cost advantages from self-developed hardware [4] Sector Performance - Government sector revenue reached 161 million yuan, growing 13.54% year-on-year due to increased market coverage from strategic investments [3] - The operator sector revenue was 135 million yuan, down 10.37%, influenced by project delivery delays [3] - Public utility sector revenue was 84 million yuan, up 7.94%, driven by high investment in security from key infrastructure industries [3] Strategic Initiatives - The company has been implementing a counter-cyclical expansion strategy since 2022, resulting in a 10.66% increase in R&D personnel and a 28.97% increase in sales personnel [5] - The company is expected to maintain a good growth trend in 2024 due to ongoing optimization in resource allocation, market development, and operational efficiency [5] Earnings Forecast - Projected revenues for 2024-2026 are 1.227 billion, 1.437 billion, and 1.652 billion yuan, with net profits of 158.56 million, 191.82 million, and 237.95 million yuan, indicating strong growth potential [6]

迪普科技 20240806 和利息到期时间的影响。 我们聚焦是运营商、金融和能源三个行业。现在信创已经到了器件层面，我们有 底层硬件，面对这种情况可以做出非常有竞争力的产品。比如电力的国网，我们 看到目前在有序做一些国产替换。运营商采购的国外的设备也在部分做有序替换。 政府市场是最大的单一市场，但特点是受财政资金影响，确实目前受宏观经济影 响丌会太好，但宏观环境好坏和我们的扩张没关系，我们在政府行业，尤其是今 年上半年看到政府行业增速还是相对比较快的，因为政府行业特别大也足够分散， 我们过去在政府行业投入相对少一些，现在肯定要逆势扩张，业务逆势增长。而 且政府行业也丌短有项目出来，从我们感觉下半年也会有一些特别国债出来的话， 对信息安全行业还是有拉劢的。公安、交通我们也在发展。另外海外，我们今年 初就探索海外业务，4 月份参加了迪拜的会展，目前看有一些机会，但对业务丌 会有拉劢，目前还是投入阶段。 上半年收入同比增长 13.63%，二季度增速环比是加快了，销售费用和管理费用 | --- | |----------------------------------------------------------- ...

证券代码：300768 证券简称：迪普科技 编号：2024-004 杭州迪普科技股份有限公司 投资者关系活动记录表 | --- | --- | --- | --- | |------------------|-------------------|-----------------------|------------| | 投资者关系活动类 | □特定对象调研 | □分析师会议 □媒体采访 | 业绩说明会 | | 别 | □新闻发布会 | □路演活动 □现场参观 | □其他 | | 参与单位 | | | | | 名称及人 | 详见附件 | | | | 员姓名 | | | | | 时间 | 2024 年 8 月 6 日 | | | 地点 在线会议 董事、总经理、董秘：邹禧典 上市公司 接待人员 姓名 市场部总裁：徐卫武 财务总监：夏蕾 一、公司经营情况综述 | --- | |-------------------------------------------------------------------------------| | 在有序扩张的战略引领下，公司坚持创新，持续对"一体两翼"的产品体系进行 ...

杭州迪普科技股份有限公司 根据中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司募集资金管 理和使用的监管要求（2022 年修订）》（证监会公告〔2022〕15 号）、《深圳证券交易 所上市公司自律监管指引第 2 号——创业板上市公司规范运作》以及《深圳证券交易所 创业板上市公司自律监管指南第 2 号——公告格式》的相关规定，本公司就 2024 年半 年度募集资金存放与使用情况作如下专项报告： 一、募集资金基本情况 (一)实际募集资金金额、资金到位情况 经中国证券监督管理委员会《关于同意杭州迪普科技股份有限公司向特定对象发行 股票注册的批复》（证监许可〔2021〕616 号）核准，公司向特定对象发行人民币普通 股（A 股）29,242,293 股，发行价格为 34.71 元/股，募集资金总额为 1,014,999,990.03 元，扣除承销商发行费用人民币 10,149,999.90 元，减除其他与发行权益性证券直接相 关的外部费用人民币 1,437,874.03 元，实际募集资金净额为 1,003,412,116.10 元。 上述募集资金到位情况已经立信会计师事务所（特殊普通合伙）审验并出具信会 ...

Company Overview - The company's stock code is 300768 and it is listed on the Shenzhen Stock Exchange[6] - The company's legal representative is Zheng Shusheng[6] - The company's foreign name is Hangzhou DPtech Technologies Co., Ltd.[6] - The company's foreign name abbreviation is DPtech[6] - The company's Chinese name is Hangzhou DPtech Technologies Co., Ltd.[6] - The company's Chinese abbreviation is DPtech[6] - The company's stock abbreviation is DPtech[6] - The company's stock is traded on the Shenzhen Stock Exchange[6] - The company's legal representative is Zheng Shusheng[6] - The company's foreign name is Hangzhou DPtech Technologies Co., Ltd.[6] Financial Performance - Revenue for the reporting period increased by 13.63% to RMB 502,455,084.41 compared to the same period last year[11] - Net profit attributable to shareholders of the listed company rose by 32.09% to RMB 52,058,321.86 year-over-year[11] - Operating cash flow surged by 190.93% to RMB 57,821,917.41 compared to the same period last year[11] - Basic and diluted earnings per share both increased by 33.33% to RMB 0.08[11] - Total assets decreased by 4.29% to RMB 3,695,336,479.74 compared to the end of the previous year[11] - Revenue for the reporting period reached 502.46 million yuan, a year-on-year increase of 13.63%[21] - Net profit attributable to shareholders of the listed company was 52.06 million yuan, a year-on-year increase of 32.09%[21] - Operating cash flow surged to 57.82 million yuan, a year-on-year increase of 190.93%[21] - R&D expenses increased to 128.36 million yuan, a year-on-year growth of 5.33%[21] - Revenue for the first half of 2024 increased to 456.35 million yuan, up 4.5% from 436.57 million yuan in the same period of 2023[143] - Net profit for the first half of 2024 decreased to 44.13 million yuan, down 37.8% from 71.00 million yuan in the same period of 2023[143] - R&D expenses for the first half of 2024 increased to 96.47 million yuan, up 6.5% from 90.57 million yuan in the same period of 2023[143] - Cash flow from operating activities for the first half of 2024 was 57.82 million yuan, a significant improvement from -63.59 million yuan in the same period of 2023[146] - Cash flow from investing activities for the first half of 2024 was -42.27 million yuan, compared to -18.88 million yuan in the same period of 2023[146] - Cash flow from financing activities for the first half of 2024 was -121.99 million yuan, compared to -59.56 million yuan in the same period of 2023[146] - Cash and cash equivalents at the end of the first half of 2024 decreased to 2.76 billion yuan, down 3.7% from 2.87 billion yuan at the beginning of the period[146] - Sales revenue from goods and services for the first half of 2024 increased to 648.41 million yuan, up 39.5% from 464.82 million yuan in the same period of 2023[145] - Payments to employees for the first half of 2024 increased to 284.78 million yuan, up 7.0% from 266.14 million yuan in the same period of 2023[146] - Tax refunds received for the first half of 2024 were 35.44 million yuan, slightly down from 36.37 million yuan in the same period of 2023[145] - Operating cash flow increased to 39.63 million yuan in the first half of 2024, compared to a negative 33.89 million yuan in the same period of 2023[148] - Cash inflow from financing activities reached 1.227 billion yuan in the first half of 2024, primarily due to a 1.2 billion yuan loan[148] - Cash outflow from financing activities was 1.349 billion yuan, mainly due to debt repayment of 1.2 billion yuan[148] - Net cash used in investing activities increased to 42.28 million yuan, up from 18.84 million yuan in the same period of 2023[148] - Total owner's equity decreased by 56.6 million yuan to 3.253 billion yuan as of June 2024[150] - Comprehensive income for the first half of 2024 was 52.06 million yuan[150] - Dividend distribution to shareholders amounted to 50.61 million yuan in the first half of 2024[151] - Capital expenditure on fixed assets and intangible assets increased to 42.28 million yuan, up from 18.84 million yuan in the same period of 2023[148] - Cash and cash equivalents decreased by 124.95 million yuan to 2.633 billion yuan as of June 2024[148] - Total owner's equity at the end of the period was RMB 3,196,476,098.32, with a capital reserve of RMB 1,418,336,557.83 and undistributed profits of RMB 1,126,695,729.56[152] - The company's comprehensive income for the period was RMB 39,411,754.42, contributing to the owner's equity increase[153] - Owner's equity decreased by RMB 9,995,119.00 due to a reduction in undistributed profits by RMB 11,542,062.54[153] - The company allocated RMB 50,953,816.96 for profit distribution to shareholders, impacting the owner's equity[154] - Capital reserve increased by RMB 4,574,702.52 due to equity incentives and other capital injections[153] - The balance of undistributed profits at the end of the period was RMB 1,049,817,547.96, reflecting a decrease from the previous period[155] - The total owner's equity at the beginning of the period was RMB 3,194,745,814.69, with a capital reserve of RMB 1,456,829,918.85[153] - The company's equity structure remained stable, with no significant changes in share capital or other equity instruments[152][153][155] - The company's total owner's equity at the beginning of the period was RMB 3,189,178,618.19, with a decrease of RMB 64,536,934.81 during the period, resulting in a total owner's equity of RMB 3,124,641,683.38 at the end of the period[157][158] - The comprehensive income for the period was RMB 44,133,278.00, contributing to the total owner's equity[157] - The capital reserve decreased by RMB 24,180,698.40 during the period, primarily due to a reduction in ordinary shares invested by owners[157] - The company allocated RMB 50,614,178.80 for profit distribution to owners (or shareholders)[157] - The total owner's equity at the beginning of the previous year was RMB 3,139,578,519.47, with an increase of RMB 21,593,008.12 during the period, resulting in a total owner's equity of RMB 3,161,171,527.59 at the end of the period[159][160] - The comprehensive income for the previous year's period was RMB 70,999,881.54, contributing to the total owner's equity[159] - The capital reserve increased by RMB 4,574,702.52 during the previous year's period, primarily due to share-based payments[159] - The company allocated RMB 50,953,816.96 for profit distribution to owners (or shareholders) during the previous year's period[160] - The company's total issued shares as of June 30, 2024, are 643,829,039, with a registered capital of RMB 643,829,039.00[161] - The company operates in the software and information technology services industry and is listed on the Shenzhen Stock Exchange since April 2019[161] - The company's main business activities include network and information security software development, commercial cryptography product sales, and information security equipment manufacturing[161] - The company's financial statements are prepared in accordance with the "Enterprise Accounting Standards" and relevant regulations issued by the Ministry of Finance and the China Securities Regulatory Commission[162] - The company has the ability to continue as a going concern for at least 12 months from the end of the reporting period, with no significant events affecting its ability to continue operations[163] - The company's accounting period follows the calendar year, from January 1 to December 31[166] - The company's operating cycle is 12 months[167] - The company uses the Chinese Yuan (RMB) as its functional currency[168] - The company's financial statements reflect the consolidated financial position, operating results, and cash flows of the company and its subsidiaries as of June 30, 2024[165] - The company's consolidation scope includes all subsidiaries, and the consolidation is based on control, which is determined by the company's power over the investee, participation in relevant activities, and ability to influence returns[170] - The company classifies financial assets into three categories: financial assets measured at amortized cost, financial assets measured at fair value through other comprehensive income, and financial assets measured at fair value through profit or loss[178] - Financial assets measured at amortized cost include notes receivable, accounts receivable, and long-term receivables, which are initially measured at fair value with transaction costs included in the initial recognition amount[180] - Financial assets measured at fair value through other comprehensive income (debt instruments) include receivables financing and other debt investments, with fair value changes recorded in other comprehensive income[180] - Financial assets measured at fair value through other comprehensive income (equity instruments) include other equity instrument investments, with fair value changes recorded in other comprehensive income and dividends recognized in profit or loss[181] - Financial assets measured at fair value through profit or loss include trading financial assets, derivative financial assets, and other non-current financial assets, with fair value changes recorded in profit or loss[181] - Financial liabilities are classified into two categories: financial liabilities measured at fair value through profit or loss and financial liabilities measured at amortized cost[179] - Financial liabilities measured at fair value through profit or loss include trading financial liabilities and derivative financial liabilities, with fair value changes recorded in profit or loss[181] - Financial liabilities measured at amortized cost include short-term borrowings, notes payable, accounts payable, and long-term borrowings, with interest calculated using the effective interest method recognized in profit or loss[181] - The company terminates the recognition of financial assets when the contractual rights to the cash flows of the financial asset expire or when the financial asset is transferred and substantially all risks and rewards are transferred to the transferee[182] - The company adjusts capital surplus for the difference between the consideration paid for acquiring minority interests and the proportionate share of the subsidiary's net assets from the acquisition date[174] - The company uses the principle of substance over form to determine whether financial asset transfers meet the conditions for derecognition[183] - Financial assets are classified into overall transfers and partial transfers, with differences in book value and consideration received recognized in current profits and losses[183] - Financial liabilities are derecognized when the present obligation is fully or partially discharged, with differences between book value and consideration paid recognized in current profits and losses[184] - The company determines the fair value of financial instruments using active market quotes or valuation techniques, prioritizing observable inputs[185] - Expected credit losses are calculated based on past events, current conditions, and future economic forecasts, with loss provisions recognized in current profits and losses[186] - Accounts receivable and other receivables are grouped by credit risk characteristics, with specific aging combinations and provision rates applied[187] - The aging combination provision rates for accounts receivable are 1% for within 1 year, 10% for 1-2 years, 20% for 2-3 years, and 100% for over 3 years[188] - Contract assets are recognized based on the relationship between performance obligations and customer payments, with expected credit losses determined similarly to financial assets[193] - Inventory is classified into raw materials, finished goods, work-in-progress, goods in transit, and consignment processing materials, and is valued using the weighted average method[194][195] - Inventory is measured at the lower of cost or net realizable value, with provisions for inventory write-downs recognized when cost exceeds net realizable value[196] - Non-current assets held for sale are classified when they meet specific conditions, including being immediately available for sale in their current condition and having a high likelihood of sale within one year[197] - Assets classified as held for sale are measured at the lower of their carrying amount and fair value less costs to sell, with any impairment loss recognized in the current period's profit or loss[197] - Discontinued operations are reported separately in the income statement, with their results reclassified from continuing operations in comparable prior periods[198] - Joint control and significant influence are determined based on the ability to jointly control or influence the financial and operating policies of an investee[199] - Initial investment cost for long-term equity investments is determined based on the fair value of consideration paid or the fair value of equity securities issued[199] - Long-term equity investments in subsidiaries are accounted for using the cost method unless they meet the criteria for being classified as held for sale[200] Market and Industry Trends - Global cybersecurity IT investment is projected to grow from USD 189.01 billion in 2022 to USD 328.88 billion in 2027, with a CAGR of 11.7%[17] - China's cybersecurity market is expected to expand from USD 12.35 billion in 2022 to USD 23.32 billion in 2027, with a CAGR of 13.5%[17] - National cybersecurity policies and industry regulations are increasingly focusing on practical protection effects, driving demand for high-performance and competitive products[41] - The cybersecurity landscape is becoming more complex, necessitating the establishment of systematic security engineering to address dynamic threats[42] - Emerging technologies like AI, 5G, and IoT are advancing the industry, demanding higher standards for cybersecurity, including dynamic assessment and active defense[42] - Localization efforts are expanding from government sectors to finance, telecom, and energy, driving demand for domestically developed cybersecurity solutions[42] Product and Technology - The company's firewall products have consistently ranked in the top four in market share for five consecutive years[24] - Hardware anti-DDoS products hold the third-largest market share in China according to IDC 2023 data[24] - Load balancing products ranked second in the Chinese application delivery market in Q1 2024[25] - The company has over 100 domestically produced products, covering security, network, and application delivery systems[24] - The company launched a new domestically produced security compliance integrated machine product in the first half of the year[24] - The company's application delivery products achieved a maximum throughput performance of 800G, leading the industry[25] - The company has optimized its IPDRR security capabilities, integrating personnel, technology, and management to enhance product functionality and performance, supporting users in building a dynamic and proactive security operation system[26] - The company's zero-trust solution has been recognized as a benchmark in the industry, with certifications from the Ministry of Public Security and awards from the China Academy of Information and Communications Technology (CAICT)[27] - The company's cloud data center solution has been widely adopted by operators, providing high-performance and stable security capabilities for cloud infrastructure and user business protection[27] - The company's data security solution aligns with the "Data Security Law" and "Personal Information Protection Law," offering comprehensive data security management and compliance capabilities[27] - The company's industrial control security solution addresses the increasing threats in industrial internet platforms, providing lifecycle security solutions for industrial control networks[28] - The company's "Ronghui Guantong" network exit solution integrates multiple security functions into a single device, improving performance and scalability for large network exits[28] - The company's IoT security solution has been implemented in over 1,000 cases, leading the video network IoT access security market according to IDC reports[28] - The company's security operation solution has been upgraded to handle massive third-party logs and socialized operation processes, improving operational efficiency[30] - The company's encrypted traffic orchestration solution addresses the challenges of increasing encrypted traffic, providing visibility and intelligent management of security resources[31] - The company's AI technology has received the highest-level A-grade certification in the 3rd and 4th China AI Competitions, enhancing its threat detection and data security capabilities[43] - The company launched a data security operation solution, winning gold and silver awards in data security identification and API monitoring at the first Data Security Competition[43] - The company's industrial internet security solutions have been certified as a "first-of-its-kind" product in Zhejiang Province, serving industries like steel, rail, and energy[43] - The company's "zero trust" security solution aims to eliminate default trust mechanisms, enabling rapid transformation to a zero-trust architecture[44] - The company's cybersecurity operation center focuses on dynamic assessment, active defense, and continuous monitoring, supporting digital transformation[44] - The company's "LingShi AI Engine" received the highest-level A-grade certificate at the 4th China Artificial Intelligence Competition in 2023[48] - The company's "Zero Trust" product won the "2022 Best Zero Trust Product Award" and was the first to pass the "Zero Trust Ready" SDP device benchmark test[50] - The company's "Industrial Control Monitoring and Audit System" was recognized as a provincial first-of-its-kind product in 2022[50] - The company launched a 400G processing capacity application delivery product, the first of its kind in China, and received domestic first-set certification[58] - The security operation platform enhanced its IPDRR capabilities and introduced integrated communication functions to improve user experience[59] - API data security risk monitoring capabilities were strengthened, leveraging AI technology for dynamic risk assessment and data leak prevention[59] - AI technology continues to empower core areas, enhancing capabilities in unknown threat detection, malicious software blocking, and automated operations[59] - The company successfully developed an anti-telecom fraud model with an accuracy rate of over 90%, significantly improving the efficiency of security event analysis[60] Sales and Marketing - The company's sales model combines channel sales and direct sales, with a focus on channel sales, continuously strengthening sales team construction and optimizing channel management[32] - The company's R&D is market-driven, with product line management teams consisting of market and R&D departments to ensure high-quality products that meet market demands[32] - The company's production process