网络安全行业事件点评：永信至诚发布股权激励，2026年净利目标增长10倍

Investment Rating - The report indicates a positive outlook for the cybersecurity industry, suggesting it will outperform the benchmark index in the next 6-12 months [7]. Core Insights - The traditional cybersecurity industry has entered a mature phase after rapid growth from 2012 to 2022, with AI security and data security expected to drive future growth [3][4]. - The company Yongxin Zhicheng has set ambitious net profit targets, aiming for a tenfold increase by 2026, supported by a stock incentive plan [3]. - The cybersecurity market is projected to reach 218.9 billion yuan in 2023, reflecting a year-on-year growth of 6.5% [3]. - The company has reported significant revenue growth, with a 22.1% increase in Q2, and a narrowing of net losses by 31.1% year-on-year [3]. Summary by Sections Industry Overview - The cybersecurity industry is transitioning to a mature stage, with AI and data security emerging as new growth drivers [3]. - Regulatory changes have increased customer willingness to invest in data security, with penalties for non-compliance rising tenfold [3]. Company Performance - Yongxin Zhicheng's revenue targets for 2024-2026 are set at 440 million, 750 million, and 1.45 billion yuan, with corresponding growth rates of 11.1%, 70.5%, and 93.3% [3]. - The digital wind tunnel business is expected to grow significantly, with revenue targets of 150 million, 300 million, and 900 million yuan for the same period, reflecting growth rates of 48.5%, 100%, and 200% [3]. Market Position - Yongxin Zhicheng maintains a leading position in the network range industry, holding a 20.4% market share as of 2021 [3]. - The company has established partnerships with key players like SenseTime and Hong Kong Cyberport, aiming to provide digital health solutions to around 300 key clients by 2026 [3]. Financial Highlights - In the first half of the year, Yongxin Zhicheng achieved revenue of 100 million yuan, an 18.5% increase year-on-year, while narrowing its net loss to 18.47 million yuan [3]. - R&D investment has increased by 21.9%, accounting for 46.4% of revenue, indicating a strong focus on technological advancement [3].