Recently, the state Internet Information Office, the national development and Reform Commission, the Ministry of industry and information technology, the Ministry of public security, the Ministry of national security, the Ministry of finance, the Ministry of Commerce, the people’s Bank of China, the State Administration of market supervision, the State Administration of radio and television, the China Securities Regulatory Commission, the State Security Bureau The State Password Administration and other 13 departments jointly revised and issued the measures for network security review (hereinafter referred to as the measures), which will come into force on February 15, 2022.
In recent years, policies in the field of data security have been intensively implemented. On November 14, 2021, the state network information office issued a notice to solicit opinions on the regulations on the administration of network data security (Draft for comments), so as to standardize network data processing activities, protect the legitimate rights and interests of individuals and organizations in cyberspace, and safeguard national security and public interests. Tianfeng Securities Co.Ltd(601162) believes that from the perspective of downstream market demand, the planning and construction of data security will gradually change from wait-and-see to practical work. Taking this as the starting point, the data security market is expected to enter the fast lane and usher in a large amount in 2022.
At present, the network security industry continues to maintain a high boom, Guolian Securities Co.Ltd(601456) points out that according to IDC’s prediction, the investment scale of China’s network security market will reach US $9.78 billion in 2021, and is expected to increase to US $18.79 billion in 2025, with a five-year CAGR of about 17.9%. The triple factors drive the rapid growth of the industry. In recent years, the market concentration has been continuously improved, and the survival of the fittest in the industry has been further strengthened. Continue to be optimistic about the following three main lines: national network security team with state-owned assets participation / control, comprehensive network security enterprises with strong security capability, and market segment head companies .
From the perspective of sector valuation, Capital Securities believes that, at present, the overall valuation of the network security sector in the computer sub sector is low, especially in the past 21 years, the sector has experienced a round of downward valuation. At present, PS in 22 years such as Sangfor Technologies Inc(300454) , Qi An Xin Technology Group Inc(688561) , Dbappsecurity Co.Ltd(688023) has been reduced to less than 10 times, PE in 22 years such as Topsec Technologies Group Inc(002212) , Venustech Group Inc(002439) , Nsfocus Technologies Group Co.Ltd(300369) has been reduced to about 25 times, and the overall security is high. In terms of specific core targets, it is recommended to pay attention to 360 Security Technology Inc(601360) with poor expectations and network security leaders Sangfor Technologies Inc(300454) , Qi An Xin Technology Group Inc(688561) , Dbappsecurity Co.Ltd(688023) , Nsfocus Technologies Group Co.Ltd(300369) , Venustech Group Inc(002439) , Topsec Technologies Group Inc(002212) , Koal Software Co.Ltd(603232) , Zhongfu Information Inc(300659) , Westone Information Industry Inc(002268) .
(source: financial Associated Press)
