DAS-Security(SH:688023)2022-04-22 16:00Financial Performance - In 2021, the company achieved a revenue of 1.82 billion yuan, representing a year-on-year growth of 37.59%[3] - The company reported a total revenue of RMB 1.5 billion for the fiscal year 2021, representing a year-over-year growth of 20%[40] - The company achieved total operating revenue of RMB 1,820.33 million in 2021, representing a year-on-year growth of 37.59%[69] - The net profit attributable to shareholders of the listed company was CNY 13.81 million, a decrease of 89.71% compared to CNY 134.12 million in 2020[53] - The net profit after deducting non-recurring gains and losses was CNY -79.59 million, a decline of 165.91% from CNY 120.76 million in the previous year[53] - The company’s basic earnings per share for 2021 was CNY 0.18, a decrease of 90.06% from CNY 1.81 in 2020[57] - The company reported a significant increase in cash flow from operating activities in Q4 2021, amounting to CNY 334.81 million, compared to a negative cash flow in the earlier quarters[60] - The company reported a net cash flow from operating activities of RMB -61.30 million, down 121.89% from the previous year[69] - The company achieved a significant increase in cash flow from financing activities, totaling RMB 2,006.19 million, due to a specific issuance of A-shares and new bank loans[153] Research and Development - From 2019 to 2021, the company's R&D investment increased from 205 million RMB to 536 million RMB, accounting for 21.67% to 29.42% of revenue[18] - As of the end of 2021, the company had 1,255 R&D personnel, representing 34.75% of the total workforce, and had applied for 2,035 invention patents, with 312 granted[18] - The company invested RMB 200 million in R&D for new technologies, focusing on AI and data security solutions[44] - R&D expenses amounted to approximately ¥535.6 million, a 71.82% increase from the previous year, representing 29.42% of total revenue[112] - The company achieved a significant increase in R&D personnel and salaries, contributing to the rise in R&D expenditures[115] Product Development and Innovation - The company launched over ten data security products, including the AiGuard data security management platform, covering nearly 90% of the cybersecurity market in China[13] - The company introduced over 18 cloud security products, enhancing competitiveness in the market[70] - The company is focusing on new product development in areas such as IoT security and smart city security, aiming for significant growth in 2022[70] - The company launched new products in data security and cloud security, contributing to rapid revenue growth in these segments[57] - The company has developed a vehicle network endpoint data security detection engine, enhancing data security capabilities in the automotive sector[10] - The company introduced a vulnerability management solution, providing lifecycle management for asset security and vulnerability control[111] Market Expansion and Strategic Initiatives - The company plans to enter the Southeast Asian market, targeting a revenue contribution of RMB 100 million within the first year of operation[49] - The company completed an acquisition of a smaller tech firm for RMB 500 million, expected to enhance its product offerings and market reach[46] - Strategic initiatives included partnerships with three major telecom operators to enhance service delivery and customer engagement[47] - The company is focusing on expanding its market share in finance, telecommunications, healthcare, education, and enterprise sectors[57] - The company has established partnerships with major cloud platforms including Alibaba Cloud, Tencent Cloud, and AWS, enhancing its market presence in public cloud security[96] Compliance and Security Operations - The company emphasizes compliance and transparency in operations, adhering to principles of market respect and investor protection[8] - The company has intercepted billions of attacks while safeguarding major national events, maintaining a "zero-error" principle in security operations[15] - The company has achieved zero errors in network security activities for 14 consecutive years, demonstrating its commitment to high-quality security services[73] - The company has established a digital security operation center for smart cities, providing comprehensive security support for digital government governance[16] Financial Management and Investments - The company will not distribute cash dividends or bonus shares for the 2021 fiscal year, retaining profits for sustainable development and operational needs[25] - The company completed a private placement of A-shares, which significantly boosted its net assets during the reporting period[57] - The company reported a significant increase in fixed assets to ¥439,638,765.40, a 42.78% rise driven by rapid growth in electronic equipment[184] - The company made substantial external equity investments totaling ¥919,721,277.00, a 336.57% increase compared to the previous year[190] Industry Trends and Market Outlook - The network information security industry is experiencing rapid growth due to increasing government regulations and the rising complexity of security risks, with significant investments expected from both government and enterprises[89] - The global cybersecurity investment is projected to reach $151.95 billion in 2021 and is expected to grow to $223.34 billion by 2025, with a CAGR of 10.4%[92] - China's cybersecurity spending is anticipated to increase from $10.26 billion in 2021 to $21.46 billion by 2025, representing a CAGR of 20.5%, the highest globally[92] - The managed security services market in China is expected to grow at a CAGR of 31.9%, indicating strong demand for outsourced security solutions[92] Talent Development and Training - The company has developed various training platforms for cybersecurity talent, focusing on both students and professionals[84] - The company is enhancing its talent cultivation capabilities by building a network security cloud training platform for professionals and providing training tools for schools and large enterprises[200]