格隆汇9月17日｜山石网科在业绩说明会上表示，公司是全球第三家成功实现自研ASIC安全芯片的网络 安全企业，目前ASIC安全芯片处于量产流片阶段，尚未回片。公司来自金融行业客户的收入占比一般 约为20%。上半年，公司研发投向主要包括ASIC安全芯片研发、信创产品布局进一步补充、AI技术对 产品与服务赋能以及安全服务能力建设等。 ...

山石网科(688030.SH)在业绩说明会上表示，公司是全球第三家成功实现自研ASIC安全芯片的网络安全 企业，目前ASIC安全芯片处于量产流片阶段，尚未回片。公司来自金融行业客户的收入占比一般约为 20%。上半年，公司研发投向主要包括ASIC安全芯片研发、信创产品布局进一步补充、AI技术对产品 与服务赋能以及安全服务能力建设等。 ...

对于普遍亏损的安全公司而言，背后是巨大的成本压力，山石网科也尚未盈利。叶海强解释称，主要原因是大家搭的模型都差不多，需要大量的人去做服 务，去做研发，去做交付，而产品同质化、碎片化、低水平重复竞争，"这是一个红海"。 出品 | 搜狐科技 作者 | 梁昌均 "在DeepSeek出来之前，我们认为跟AI没关系，但DeepSeek是一次全民教育，让大家都可以做自己的大模型和智能体。"山石网科董事长兼CEO叶海强在今 天开幕的第十三届互联网安全大会期间表示。 谈及对大模型的认识，叶海强对搜狐科技表示，对它的认知会有一个规律，在DeepSeek之前，"我们认为AI是大厂华为、百度、阿里的事"。 不过，随着DeepSeek的爆火，叶海强的这一想法改变了。今年7月，这家在科创板上市的网络安全公司发布"ASIC+AI"战略，围绕自研ASIC芯片和大模型应 用进行业务重构。 "AI这件事，每个人、每家公司都得去想，但真正想明白非常难。"叶海强表示，现在国内外智能体都很热，但现在的AI商业应用，在Coding上有些效果。所 以提出AI For Process（流程），推动公司的研发流程、服务流程因AI而改变，把人给释放出来。 " ...

Core Viewpoint - The company faces a complex market environment in the cybersecurity industry and has outlined four key operational focuses for 2025: "platform switching," "key industries," "over billion production lines," and "brand transformation" [1] Group 1: Industry Overview - The cybersecurity industry is experiencing structural changes, with a slowdown in overall growth due to global economic deceleration and tightening budgets from downstream clients, except for certain business-driven sectors [1] - Increased competition among vendors is evident as they vie for limited market share through various dimensions such as technology, pricing, and service [1] - Despite current challenges, the long-term outlook for the cybersecurity industry remains positive, driven by accelerated digital transformation and the growing importance of data security [3] Group 2: Company Performance - In Q1 2025, the company reported revenue of 158 million yuan, a year-on-year increase of 4.58%, but a net loss attributable to shareholders of 74.41 million yuan [2] - The company attributes the first-quarter loss to the seasonal nature of revenue distribution in the cybersecurity industry, where Q1 typically represents a smaller portion of annual revenue [2] Group 3: Strategic Initiatives - The company plans to leverage its competitive advantage in the firewall market by focusing on key industries such as finance, telecommunications, energy, and education, while enhancing product updates and channel partnerships to expand sales [1][4] - A "chip strategy" has been implemented, involving the development of self-researched ASIC security chips to improve product cost-effectiveness and establish long-term competitive advantages [3] - The company has increased its R&D investment to 87.66 million yuan in Q1 2025, representing 55.48% of its revenue, focusing on ASIC chip production and exploring AI opportunities [4]