MEIYA PICO INC.(SZ:300188)2023-03-31 16:00Smart City Development - The company established Fujian Meiya Guoyun Intelligent Equipment Co., Ltd. to enhance domestic substitution capabilities and support the development of smart cities, launching the "Gem" series of servers and "Crystal" series SSDs to meet various industry needs [4]. - The company’s subsidiary, Zhuhai Xindehui, introduced smart convenience products, including intelligent thermal imaging devices and robots, contributing to the smart city construction and public health initiatives [5]. - The company has established a strong presence in multiple regions, including Fujian, Jiangxi, Sichuan, and Changsha, through various smart city projects [24]. - The company is involved in the construction of a new smart city brain, leveraging its public safety big data advantages to enhance governance and public welfare [154]. - The company is focusing on expanding its presence in emerging industries such as artificial intelligence and big data, aiming to integrate these technologies into smart city and cybersecurity solutions [100]. Data Security and Cybersecurity - The company focuses on providing big data intelligence and cybersecurity products and services to government departments and enterprises, maintaining a strong emphasis on independent research and development [6]. - The company initiated the "Great Wall Plan" and "Beacon Plan" to enhance data security from both regulatory and user perspectives, focusing on building a robust cybersecurity ecosystem [13]. - The company has developed a comprehensive data security governance technology, providing solutions for data lifecycle management and compliance, and has participated in national projects like the electronic ID card platform [16]. - The company reported a significant increase in demand for its data security products, collaborating with internet companies to enhance data protection systems [16]. - The company is actively developing its new cybersecurity segment, extending its services from post-incident data collection to comprehensive cybersecurity solutions, including the "Great Wall Plan" and "Beacon Plan" [154]. Financial Performance - The company achieved total revenue of 2,279.69 million yuan in 2022, a decrease of 10.08% compared to the previous year [28]. - The net profit attributable to shareholders was 147.86 million yuan, down 52.41% year-on-year [28]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was 92.02 million yuan, a decline of 66.34% year-on-year [28]. - The total assets of the company at the end of the reporting period were 5,890.39 million yuan, an increase of 20.33% from the end of the previous year [28]. - The overall gross profit margin for the company's products was 52.24%, a decrease of 6.13% compared to the previous year [28]. Research and Development - The company’s R&D capabilities are supported by multiple research institutes across major cities, focusing on public safety big data and smart city technologies [7]. - The company maintained a research and development investment ratio of over 15% of its revenue, emphasizing its commitment to innovation and product development [100]. - The company has developed the "QianKun" big data operating system (QKOS), which has been recognized for its efficiency in project development in the public safety big data sector [30]. - The company has developed proprietary security products such as Zero Trust Security and Security Brain, catering to various industries including government and finance [109]. - The company is involved in national key R&D projects, including the "Dynamic Simulation Forensics System," which utilizes simulation technology for electronic data forensics research [159]. Market Trends and Opportunities - The electronic data forensics market in China is projected to grow significantly, with an estimated market size of CNY 35.62 billion by 2023 [106]. - The smart city market in China is projected to grow from CNY 25 trillion in 2022 to CNY 28.6 trillion in 2023 [111]. - The company is positioned to benefit from the national policies aimed at expanding the digital economy, with a target for the core digital economy industries to account for 10% of GDP by 2025 [145]. - The national strategy emphasizes the importance of cybersecurity and data security, with policies aimed at enhancing the digital infrastructure and data resource systems by 2025 [196]. - The company is focused on expanding its market presence and enhancing its product offerings in response to the increasing demand for cybersecurity solutions [196]. Product Development and Innovation - The company launched the "Meiya Zhiqi" brand in 2022 to consolidate resources for enterprise digital transformation, offering comprehensive digital solutions [12]. - The company has launched several new products, including "Unlock Master," "Solid State Drive Recovery," and "Smart Eye" for evidence collection and analysis [35]. - The company launched over 30 new products in the electronic data forensics sector, including the first domestic "cloud forensics" product [186]. - The company has developed a comprehensive solution capability in data governance, application, and security protection, positioning itself as a leader in the big data industry [103]. - The company is committed to building a comprehensive "big data operating system" by promoting data, computing, and business integration to eliminate information barriers [160].