VENUSTECH(SZ:002439)2022-12-08 09:31Group 1: Company Overview and Acquisitions - The acquisition of Shusheng Electronics focuses on electronic seals and signatures, with a strong emphasis on data security, indicating a promising future in the industry [2] - Shusheng's client base is similar to that of the company, primarily consisting of large state-owned enterprises and government entities, but it will maintain a degree of operational independence post-acquisition [2] Group 2: Market Insights and Future Directions - The company has made significant preparations for the personal terminal market, although users currently prefer free options, suggesting a potential shift in focus towards paid services in the future [3] - The entry of internet companies into the enterprise-level information security market highlights increased attention and optimism in this sector, although direct competition remains limited [3] - The company aims for rapid growth through external expansion to significantly increase sales revenue [3] Group 3: Workforce and Service Development - The R&D team is currently sufficient for the company's needs, with no expected growth in personnel next year; however, sales staff will increase in line with business development [3] - The company has a dedicated security service team, with service revenue showing consistent growth, although product sales remain the primary focus due to current consumer habits [3] Group 4: Investment Strategy and Market Position - The company focuses its investments on information security-related firms, categorizing targets into three types: large enterprises in the security industry, successful niche players, and innovative small companies [4] - The overseas business, primarily in Japan, has seen rapid growth in the past two years, although the overall scale remains modest [4] Group 5: Industry Trends and Legislative Environment - There is currently no clear timeline for legislation in the information security sector, but future laws are expected to benefit the industry, with a preference for qualitative over mandatory regulations [4] - The industrial control sector is characterized by low overall security and varying demands across different industrial applications, indicating significant future potential [4]