NOVA TECH(SZ:300921)2024-12-26 10:44Group 1: Company Overview - Nanling Technology is listed under stock code 300921 and is focused on providing integrated cloud and network security services [1][3]. - The company has established itself as a leading provider in the IP-VPN technology service sector [3][4]. Group 2: Financial Performance - The company's revenue for 2021 was CNY 494.04 million, showing a year-on-year increase of 16.50%. In 2022, revenue was CNY 567.30 million, a slight decline of 1.64%. For 2023, revenue reached CNY 603.71 million, marking a growth of 6.42% [4]. - In the first three quarters of 2024, the revenue was CNY 446.22 million, reflecting a year-on-year increase of 3.98% [4]. Group 3: Cost and Profitability Challenges - The decline in net profit is attributed to rising operating costs and expenses, particularly in digital engineering, which has a low gross margin [4]. - The company has expanded its network nodes overseas, establishing presence in 13 countries and collaborating with 66 foreign operators, which has increased operational costs without immediate revenue generation [4][6]. Group 4: Overseas Market Expansion - The company is actively expanding its overseas market presence by building service networks in key global hubs, aiming to support Chinese enterprises going abroad and foreign enterprises entering China [6]. - As of the end of 2023, Nanling Technology has set up subsidiaries or offices in locations such as Hong Kong, Hsinchu, Singapore, Japan, and the UK, and has obtained telecom operation licenses in these regions [6].