计算机行业点评报告：密码行业点评：密评预计将加速推进

Investment Rating - The industry investment rating is "Positive (Maintained)" [7] Core Viewpoints - The release of the directory for commercial password testing institutions marks the formal entry of the password evaluation process into a regularized phase [4] - The recent local government debt resolution is expected to positively impact local government finances and enterprises, providing reasonable fiscal budget support for future password evaluation work [4] - The password evaluation work is projected to unlock a market space of approximately 6 billion yuan annually [5] Summary by Sections Industry Overview - The State Cryptography Administration announced the end of the pilot work for commercial password application security assessments, requiring operators of critical information infrastructure to conduct annual evaluations [2][3] - The management measures for commercial password testing institutions were published, establishing a five-year validity for the qualification certificate [4] Market Potential - Based on calculations, the market potential for password evaluation is significant, with an estimated annual market space of 6 billion yuan, considering a 15% penetration rate of commercial passwords and a potential increase of 85% [5] Recommended Companies - Recommended companies include: - Sanwei Information Security, a major provider of commercial password infrastructure in China [6] - Xinan Century, focusing on identity, communication, and data security solutions [6] - Other notable companies include Digital Certification, Zhonghu Information, and various cybersecurity firms [8]