ABT Networks(SH:688168) Xin Lang Zheng Quan·2025-08-20 10:44Core Viewpoint - Anbo Tong Technology Co., Ltd. is a representative enterprise in the network security sector of the Sci-Tech Innovation Board, with 99.88% of its revenue in 2024 coming from network security, indicating a strong correlation between the company's performance and the industry's prosperity [1]. Company Overview - Anbo Tong announced the resignation of its board secretary, Dan Chen, effective August 20, 2024, due to personal reasons, with Chairman Zhong Zhu acting as the interim secretary [1]. - Dan Chen, born in 1987, has a master's degree from Monash University and has held various positions in investor relations and management before joining Anbo Tong in 2021 [3]. Financial Performance - In 2024, Anbo Tong reported a revenue of 737.53 million yuan, a year-on-year increase of 34.37%, but faced a net loss of 119 million yuan, contrasting with a profit of 11.78 million yuan in the previous year [7][8]. - The company's total assets increased by 10.23% year-on-year to approximately 1.78 billion yuan, while net assets decreased by 8.50% to about 1.12 billion yuan [8]. Executive Compensation - Dan Chen's compensation for 2024 was approximately 699,800 yuan, which is below the industry average of 738,800 yuan for similar positions [4]. Market Performance - Anbo Tong's stock price has surged approximately 100.38% year-to-date, reaching 78.35 yuan per share, with a total market capitalization of 6.02 billion yuan, doubling from around 3 billion yuan at the beginning of the year [5][7]. Industry Context - The network security industry is moving towards a trillion-yuan market supported by national policies, but it faces intense competition and long investment cycles [9]. - Anbo Tong is positioned in the "security + AI security" segment, leveraging its capabilities in computing power and large models to enhance revenue growth potential [9].