Event: the company released its mid-2021 report.
There has been a big increase in income. In the first half of 2021, the company realized operating income of about 844 million yuan, an increase of 94.75% over the same period last year; the loss attributed to shareholders of listed companies was about 42.04 million yuan, a decrease of 68.27% over the same period last year.
Actively participate in the top-level planning of national data security. In the first half of the year, the company focused on the important direction of data security, such as the protection of important data and personal information, and the secure flow of data, focusing on private computing, promoting simultaneously from the underlying cryptographic technologies such as secret sharing, homomorphic encryption, private computing security products, and data sharing business models, to create a data security, compliance and sharing ecology, and to implement the concept of "invisible and usable" data circulation. At the same time, the company actively participated in the top-level planning of national data security and the formulation of a number of national standards for data security, carried out key pilot applications in related fields of national ministries and commissions, studied in a number of typical and important scenarios, and promoted the landing of data security solutions.
The company continues to make efforts in the markets of party and government, Xinchuang, online information and commercial secrets, and comprehensively expand the markets in the fields of finance, energy, government affairs, transportation, etc. In the first half of the year, Xinchuang focused on R & D resources to promote the development and testing of Xinchuang's products, comprehensively improved its security product system, and realized large-scale application and deployment of related products and systems in Guangxi, Liaoning and other provinces and cities; in terms of commercial secret business, quickly promote the layout, dig deep into the application demand for password compliance in the fields of finance, energy and government affairs, and develop secret review and rectification and password service business. Expand new areas such as vehicle networking and industrial control safety, and create new business growth points. A breakthrough has been made in the Internet letter market and won the bid for more than 100 million yuan in the construction of the network letter system in Sichuan Province, which is of great demonstration significance in terms of construction content and construction mode, and lays a solid foundation for the follow-up fight for the central side and other provinces and cities.
Investment advice: as a national data security team, the company is ushering in a historic opportunity. It is estimated that the company's EPS from 2021 to 2022 will be 0.27,0.38 yuan respectively, with a "buy-A" investment rating and a 6-month target price of 50 yuan.
Risk hint: new business progress is not as expected; information security policy is not as expected