VENUSTECH(SZ:002439)2022-12-08 12:44Financial Performance - In Q3, the company achieved a profit of over 20 million, marking a significant increase compared to the previous year [2] - The integration of Qiming Star and Wangyu Xingyun has shown positive results, with both teams performing well [2] Market Development - The company's overseas business is primarily focused on the Japanese market, which has seen rapid growth in the past two years, although the overall scale remains small [3] - The domestic market continues to be the main focus for the company [3] Industry Outlook - The network security industry is gaining increased attention from the government and large enterprises, especially following the Snowden incident, which has heightened awareness of information security [3] - The ongoing emphasis on information security by the government is expected to drive growth in the industry [3] Mergers and Acquisitions - The company has successfully integrated acquired firms, particularly Wangyu Xingyun, which has provided valuable experience for future acquisitions [3] - The frequency of mergers in the network security industry is viewed positively, indicating strong market confidence and regulatory support [3] Product Development - The company recently upgraded a range of products, including software and hardware, and launched a next-generation firewall product with new features to prevent ATP attacks [4] - The first year of after-sales service is free, with a 15% service fee starting in the second year [4] Revenue Distribution - Revenue distribution across sectors includes over 100 million from the financial and telecommunications industries, 200-300 million from government and military, and nearly 100 million from energy and tobacco sectors [4] - The sales ratio between channel sales and direct sales is currently balanced at approximately 50-50 after the acquisition of Wangyu Xingyun [4] Project Cycle - The typical project cycle for large projects is around six months or longer [4]