MEIYA PICO INC.(SZ:300188)2022-12-08 05:21Group 1: Company Overview and Operations - The company focuses on ecological origin certification, product traceability, and anti-counterfeiting labels, with an annual certification fee of approximately 80,000 to 90,000 RMB and label charges ranging from 0.05 to 0.15 RMB per item [2] - The company has seen significant growth in training demand, particularly from new sectors such as the judiciary and commerce [2] - The company has established a joint venture named Wancheng Credit, indicating expansion in its service offerings [3] Group 2: Market Position and Competition - The domestic product market share has been increasing due to strong local adaptability and user demand [3] - The company’s electronic data forensics products have the highest revenue share, driven by rapid growth in new business sectors such as the judiciary and public security [4] - The company competes with international firms like GSI in the U.S. and UBIC in Japan, focusing on data analysis rather than direct competition in operational design [3][5] Group 3: Financial Performance - Service revenue increased by over 90% in the first half of the year, attributed to the transition from product to service offerings and the growth of cloud services [5] - The company’s income from government departments constitutes a significant portion of its revenue, with detailed figures available in the semi-annual report [7] - The company has secured a customs project, expected to generate revenue within the current year [6] Group 4: Future Development and Strategy - The company plans to enhance its mobile forensics products, which are anticipated to be a key growth area [4] - Future developments include launching a corporate version of the evidence cloud and expanding services in the legal sector [4] - The company is focusing on server security products and plans to introduce value-added services for enterprises [8]