Feitian(SZ:300386)2022-12-07 09:40Group 1: Company Overview - Feitian Technologies is a chip design company that collaborates with suppliers like Guomin Technology for chip procurement and develops operating systems for security and performance [2][3]. - The company has over 200 banking clients, each requiring unique COS (Card Operating System) solutions, highlighting the importance of both technology and production management [3]. Group 2: Product Market Insights - The USB-KEY product has reached a certain level of market penetration, with potential for future growth, although the rate may slow down [3]. - The company has maintained an annual growth rate of approximately 30% since its establishment [3]. Group 3: Competitive Positioning - Feitian's USB-KEY and OTP dynamic token products rank among the top three in the domestic market, with a leading position in encryption lock products and coverage of over 200 banking clients [4]. - The competitive landscape has shifted from technology-based competition to market-based competition as the industry evolves [4]. Group 4: International Market Strategy - The overseas market for USB-KEY products is currently limited, but there is a growing presence, with international sales contributing nearly 10% to total revenue [5]. - The company aims for a long-term target of achieving a 50% market share growth, despite differing market environments between China and international markets [4][5]. Group 5: Future Developments - Feitian is exploring breakthroughs in the financial IC card business and actively expanding into international markets [4]. - The company has plans for cloud authentication, which serves as a platform between software and hardware, with market promotion and demand assessment underway [5].