Another important branch of Xinchuang! Cryptocurrency industry builds digital economy "moat" industrial chain listed companies review

West China Securities recently released a research report stating that the steady advancement of "new infrastructure" has laid the foundation for the vigorous development of the digital economy. The digital transformation process of traditional businesses will inevitably involve information security issues, and passwords are the "key to information security". "Buckle", forming a "moat" for the development of the digital economy. The development of the information and innovation industry is inseparable from the construction of security capabilities, and passwords protect the security of the information and innovation industry.

Data security incidents occur frequently, and it is necessary to conduct regular secret reviews to identify problems in a timely manner and make improvements. In recent years, my country's encryption industry has made significant progress in laws and regulations, algorithm standards, industrial applications, and regulatory systems. Digitalization, compliance, and innovation are the three important factors driving the crypto industry to maintain rapid growth, and the industry is expected to enjoy high prosperity.

Passwords are the core technology and basic support for ensuring the security of cyberspace. The "Cryptography Law of the People's Republic of China" divides passwords into core passwords, ordinary passwords and commercial passwords. Since the "14th Five-Year Plan", the digital economy has become an important direction for my country's economy to achieve high-quality development. The importance of data-centered security has been continuously highlighted. As an important cornerstone of data security, passwords are playing an important role in promoting the healthy and safe development of the digital economy. plays an important role.

On November 20, 2022, the State Cryptozoology Administration released 9 cryptography industry standards, involving many technologies such as network identity services, browser digital certificates, PLC control systems, and electronic signature services in cloud scenarios. Standards, as well as testing standards for password cards and other products, have laid a solid foundation for the development of the password industry and the steady advancement of password evaluation.

In recent years, my country’s encryption industry laws and regulations have gradually been improved, accumulating momentum for subsequent rapid development. From the perspective of protection objects, the "Personal Information Protection Law (Second Review Draft)" and "Data Security Law" set out clear protection goals for personal information or corporate data security construction, and are a comprehensive legal framework for data protection and data utilization. From the perspective of technical means, the "Cryptozoology Law" clarifies the security technology route that takes cryptography technology as the core, and forms a strong compliance incremental market for important information systems.

According to Haibi Research Institute, the size of the information innovation industry will reach 922.02 billion yuan in 2022, with a compound growth rate of 35.7 in the past five years. It is expected to exceed 2 trillion yuan in 2025, and passwords are an important component of information innovation In part, it also tightens the "safety valve" for the information and innovation industry. The development of the information and innovation industry has brought historical opportunities to the cryptography industry.

According to CCID Research Institute, from 2016 to 2021, the compound annual growth rate of my country's commercial encryption industry will reach 31. The industry scale will reach 58.5 billion yuan in 2021. It is expected that the commercial encryption industry scale will reach 937.5 in 2023. billion.

From the analysis of the industrial chain of cryptographic products and service supply, the upstream of the cryptographic industry chain includes three major categories: security chips, printed circuit boards, and servers; the midstream is products with cryptographic technology as the core, including cryptographic machines/ciphers There are six categories: cards, digital certificates, VPNs, tokens, electronic signatures, and quantum encryption; the downstream areas are mainly software, system integration, and application fields.

Specifically, the companies involved in the upstream security chip field are mainly Tongfang Technology, Hualan Micro, etc.; the listed companies involved in the circuit board field are mainly Shennan Circuit and Shengyi Technology; the companies involved in the server field are Mainly Inspur Information, etc.; the companies involved in the midstream cipher machine and password card field are mainly Weisitong, Digital Certification, Sanwei Xin'an, Xin'an Century, etc.; the listed companies involved in the digital certificate field are mainly Digital Certification, Geer Software, Jida Zhengyuan , Principle Century, etc.;

The companies participating in the VPN field are mainly Sangfor, Tianrongxin, Principle Century, Venus, Guardone, Geer Software, DP Technology, Qi’anxin; the listings involved in the token field The companies mainly include Guardone, Digital Certification, XinAn Century, Feitian Chengxin, Haitai Fangyuan, etc.; the companies involved in the field of electronic signatures mainly include Digital Certification, Haitai Fangyuan, Geer Software, etc.; the listed companies involved in the quantum encryption field are mainly Guodun Quantum, Jiuzhou Quantum; the companies participating in the downstream password management platform field are mainly Sanwei Xin'an, Digital Authentication, Xin'an Century, Guardong, etc.

Huachuang Securities Deng Yi and others stated in a research report released on December 19 that companies related to the industry chain are expected to continue to benefit, mainly including Guardong (crypto chips, cipher machines, cipher cards, digital authentication system, signature server, etc.), XinAn Century (certificate authentication, security gateway, signature server, full password security service platform, etc.), Jida Zhengyuan (electronic certification, digital encryption, etc.), Geer Software (public key infrastructure PKI, etc.) , Sanwei Xin’an (cryptographic chips, cryptographic modules, cryptographic machines, cryptographic systems, etc.), digital authentication (digital identity management, digital delivery, electronic signatures, cryptographic equipment, etc.), Zhongfu Information (cryptographic machines, cryptographic cards, smart IC card, etc.), Guoxin Technology (embedded CPU, etc.), Xinyada (cipher machine, signature verification server, password card, payment cipher, etc.).

It is worth noting that secret review is an indispensable part of the development of the encryption industry and the security assessment of commercial encryption applications, but the fee is relatively expensive, with a single charge of about 160,000 yuan.