超融合及AICP平台调研

Summary of Conference Call Records Company Overview - The company discussed is 深信服 (Deepin Technology), focusing on its subscription products and services in the cybersecurity and cloud computing sectors. Key Points and Arguments Industry and Business Performance - Subscription product lines, such as MSS (Managed Security Services), have shown significant growth of 20%-30%, while traditional hardware sales have declined. Subscription methods now account for 50% of the cybersecurity business [1][2] - The MSS solution integrates firewall, EDR, XDR, and situational awareness into a platform, providing a good customer experience, but only 10%-15% of long-term operational customers currently utilize it due to high costs. The goal is to increase this to 50% [1][2] - Managed cloud services maintain a growth rate of 40%-50%, primarily targeting medium-sized customers through competitive pricing, representing about 25% of cloud computing revenue [1][13] - EDS (Enterprise Data Services) has seen significant demand in manufacturing and finance, with a large market share and a new unified storage solution launched this year [1][14][19] Pricing and Customer Segmentation - The price for a complete MSS system is approximately 30,000 to 40,000 yuan, which includes bundled services like firewall and XDR. Customers typically increase their module usage over time, leading to higher renewal amounts [1][4] - 信创 (Xinchuang) hyper-converged products are priced 20%-30% higher than non-Xinchuang products, with Xinchuang customers accounting for over 50% of total sales despite being only 20%-30% of the customer base [1][21] AI and Technological Integration - The AICP platform aims to help enterprises utilize AI resources and optimize hardware performance through GPU pooling technology, but its high price is leading the company to adjust its pricing strategy [1][22][23] - The company has discussed AI products like email protection and security GPT, but market acceptance remains low due to high costs and the need for local deployment for data security [9][10][11] Market Dynamics and Competitive Landscape - The cybersecurity market is highly competitive, with price wars among leading firms, resulting in high investment but low returns. Despite some smaller players exiting, the overall market has not improved significantly [2] - The transition from centralized to distributed storage in the financial sector is ongoing, with some clients still using traditional databases, indicating a gradual shift rather than an immediate change [17][18] Future Outlook - The company expects to increase its enterprise user base from approximately 20 to around 100 in the future, with individual user spending gradually increasing [6] - The hyper-converged market is growing at 20%-30%, with a focus on filling the gap left by VMware's exit [20] - The company is exploring ways to leverage existing customers to expand its user base, particularly in AI technology [28] Challenges and Considerations - High costs remain a significant barrier for many potential customers, particularly in manufacturing, where investment decisions are cautious without clear ROI [26][27] - The company recognizes the need to balance hardware and software costs to make their offerings more attractive to customers [27] Additional Important Information - The company has a strong focus on providing high-level operational services, requiring a small team to manage multiple enterprise users [7] - The managed cloud service offers a cost advantage over traditional public cloud services by allowing flexible pricing based on actual resource usage [15]