Feitian(SZ:300386)2022-12-07 08:41Company Overview - Founded in 1998, the company has evolved from producing encryption locks to employing over 800 staff, with more than half being technical R&D personnel [2] - The core technology is based on embedded operating systems, primarily serving clients in the banking sector [2] Future Developments - The company aims to expand its core technology into the smart card sector, which includes applications such as public transport cards, social security cards, health cards, and residence permit cards [2] - The acquisition of a card factory is intended to support the EMV migration and market expansion, facilitating the upgrade of bank cards [2] OTP Product Insights - Although the unit price of OTP products is declining, the increasing market capacity mitigates the impact on sales revenue [4] - The focus for OTP products is on the international market, particularly banks that widely adopt OTP devices [4] Client Base - The company primarily serves over 180 banks, including major institutions such as Industrial and Commercial Bank of China, Agricultural Bank of China, and China Bank [4] - Other clients include government entities and various enterprises across multiple sectors [4]