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Today's sharing is: China Economic Industry Research Institute: 2024 China Cybersecurity Products Industry Enterprise Insight Report

Total report: 28 pages

This report provides corporate insights into China's cybersecurity products industry.

In terms of the current state of industry competition, the number of enterprises in China's cybersecurity product industry will grow rapidly in 2023, with Beijing, Guangdong, and Shanghai being the gathering places for enterprises. The industry concentration has increased, with leading enterprises such as Qi'anxin and Venustech occupying a large market share. The number of patent applications was the highest in 2022 and declined in 2023. Venustech and other enterprises performed outstandingly in patent applications. The cybersecurity product industry has advantages such as rich product lines and technical strength, but also faces disadvantages such as rapid technological updates, and there are both opportunities and threats.

In the comparison of the current business status of enterprises, Qi'anxin and Venustech are both network security companies in Beijing. Qi'anxin focuses on providing a new generation of enterprise-level network security products and services, while Venustech is in a strategic upgrade period. In terms of corporate net assets, operating income, net profit, R&D investment and ROE, Venustech has a relatively stable development and relatively strong profitability. In the comparison of product operations, Qi'anxin's network security product operating income and gross profit margin are relatively high.

In terms of the current development status of Qi'anxin, it has pioneering network security construction concepts, strong R&D and innovation capabilities, and other competitive advantages. It attaches importance to R&D model innovation and promotes the development of the industry with the mission of "making the network safer and the world better". In terms of the current development status of Venustech, its core capabilities are divided into six categories, and its security products cover eight major areas. It attaches importance to talent training, takes "escorting digital China and leading information security" as its mission and vision, and cooperates with China Mobile to build a security cloud capability center. In short, the network security product industry is highly competitive, and each company has its own advantages to jointly promote the development of the industry.