CYBERSECURITY TECH GOING GLOBAL

ORIENTALGUARDIANS 2023 CYBERSECURITYTECHGOINGGLOBAL 1stEdition 2023.08 FOREWORD Cybersecurityindustryhasbeengrowingrapidlyinrecentyears,attractingattentionwithitsmomentum.AsanimportantcomponentofChina'sdigitaltransformationandnewtechnologydevelopment,cybersecuritytechnologyplaysacrucialroleinprotectinginformationsecurityandpreventingcyberattacks. WiththegradualmaturityofChina'scybersecuritytechnologyproducts,China’scybersecurityvendorshaveembarkedonthepathofexploringoverseasmarkets. Thistrendhasbecomeincreasinglyevidentin2023. ThisreportaimstoprovideasummaryoverviewofChina’scybersecurityvendorsthatareactivelyexploringglobalmarkets.Thereportoffersacomprehensiveoverviewoftheiroverseasbusiness,includingcompanyprofiles,producttechnologies,GTMandbusinesslandingmodels. Ourgoalistoprovideaholisticoverviewforglobalclientsandpartners,enablingthemtobetterunderstandthestrengthsandcharacteristicsofChina’scybersecuritytechvendors.Additionally,wehopethisreportwillfacilitatemoretechnologicalandbusinesscollaborationswiththem,contributingtotheenhancementandinnovativedevelopmentofglobalcybersecurity. ThisreportispartoftheCyberSecurityBillboardseriesbyZ-ONEConsulting. BasedonZ-ONECybersecuritySearchEngineData CHINACYBERSECURITYTECHMARKETOVERVIEW ActiveChinaTech 1000+ Vendors CybersecurityTech 190+ Sectors InmostsectorsthereareChinaTechvendorsbenchmarkagainstGlobalVendors PerIDCdata,worldwidespendingonsecuritysolutionsandservicesisforecasttobe$219billionin2023,anincreaseof12.1%comparedto2022.Asia/Pacific(excludingJapanandChina)andthePeople'sRepublicofChinawillbethenextlargestregionsforsecurityspendingthisyear.Chinaisforecasttoseethefastestspendinggrowthoverthe2021-2026forecastperiodwithafive-yearCAGRof18.8%. www.z1-sec.com/en/index Accordingtothe"DigitalChinaDevelopmentReport(2022)”,thescaleofthecybersecurityindustryinChinacontinuestoexpand.In2022,itisestimatedtohavereachednearlyCNY217billion,withayear-on-yeargrowthof13.9%.Thenumberofenterprisesengagedinthecybersecuritysectorexceeds3,000.Furthermore,thetalentpoolincybersecurityiscontinuouslygrowing,withover500undergraduateandvocationalcollegesacrossthecountryofferingmajorsrelatedtonetworkandinformationsecurity. Note:Thisreportonlycoversindependentcybersecuritytechvendorsanddoesnotincludesolutionproviderssuchascloudserviceproviders，networkcommunicationvendors,etc. CHINACYBERSECURITYPUBLICCOMPANIES No. CompanyName StockCode Market/Board Price MarketCap(¥) PERatio(TTM) PS(TTM) Jun.30Close 52WeekLowest 52WeekHighe 1360Security 601360.SH MainBoard 12.52 6.30 20.85 89,602,854,528 106.81 7.61 2Sangfor 300454.SZ GEM 113.30 83.78 167.50 47,211,705,300 77.89 4.61 3QiAnXin 688561.SH SSESTARMarket 52.98 40.27 82.79 35,498,782,044 83.87 3.81 4CETCCyberspaceSecurity 002268.SZ SMEBoard 29.96 17.49 37.54 28,084,485,216 23.81 4.08 5Venustech 002439.SZ SMEBoard 27.79 26.62 49.85 23,574,580,926 51.03 4.96 6TRS 300229.SZ GEM 26.54 9.66 35.60 20,653,733,240 71.55 14.61 7XiamenMeiyaPico 300188.SZ GEM 20.48 11.18 29.13 17,868,535,146 52.07 5.12 8DBAPPSecurity 688023.SH SSESTARMarket 175.50 124.24 229.80 13,794,472,644 136.27 4.73 9Topsec 002212.SZ SMEBoard 9.64 8.55 13.30 11,492,874,280 23.33 2.19 10HangzhouDPtech 300768.SZ GEM 16.63 10.96 22.73 10,668,248,187 33.38 8.19 11NSFOCUS 300369.SZ GEM 12.35 7.81 18.72 9,894,262,015 24.64 2.87 12BEIJINGCERTIFICATEAUTHORITY 300579.SZ GEM 20.98 16.02 27.15 8,380,209,500 40.99 3.50 13ShanghaiInformation2 688435.SH SSESTARMarket 28.79 18.78 40.89 7,803,000,000 52.77 5.54 14Asiainfo 688225.SH SSESTARMarket 4.89 3.62 6.14 7,307,113,398 (38.88) 12.91 15Sansec 688489.SH SSESTARMarket 62.74 60.10 90.19 7,203,498,225 37.04 12.46 16BeijingVRV 300352.SZ GEM 73.65 71.00 127.60 6,349,340,000 64.59 18.43 17BeijingInfosec 688201.SH SSESTARMarket 41.81 29.01 69.29 6,176,147,974 23.27 6.39 18ZhongfuInformation 300659.SZ GEM 31.50 17.80 44.30 6,046,960,150 21.17 3.81 19JilinUniversityZhengyuan 003029.SZ MainBoard 83.20 34.49 55.08 5,364,617,220 50.92 9.06 20Surfilter 300311.SZ GEM 20.03 14.15 36.00 4,600,037,536 (10.75) 6.51 21Feitian 300386.SZ GEM 10.58 9.01 14.80 4,447,989,224 (29.58) 5.23 22Hillstone 688030.SH SSESTARMarket 5.87 5.30 8.77 4,008,099,690 (246.79) 5.57 23JiangsuYunyong 688060.SH SSESTARMarket 21.37 18.00 29.69 3,862,305,327 41.88 2.98 24KoalSoftware 603232.SH MainBoard 14.68 8.85 21.10 3,388,472,846 31.42 3.69 25BeijingABT 688168.SH SSESTARMarket 53.57 38.68 71.15 3,314,738,860 28.67 4.64 26BeijingIntegrityTech 688244.SH SSESTARMarket 35.95 29.25 47.85 2,716,020,120 18.89 3.88 27GuangdongWeide 688171.SH SSESTARMarket 23.70 18.37 26.92 2,047,421,896 24.86 9.69 28ShenzhenGuoHua 000004.SZ MainBoard 15.99 7.85 16.60 2,025,933,525 (3.43) 11.48 29Bluedon 300297.SZ GEM 0.48 0.48 2.71 599,754,144 (0.35) 9.36 CYBERSECURITYANGELINVESTMENTIS HOT FORTHEPAST3YEARS Start-upsfinancingamountdistribution(allrounds) ThetotalnumberofStart-upsthatcompletedthefirstroundoffinancingwithin2020-2022 2020 2021 2022 Allrounds 91 28 39 24 Seed+Angel 69 24 29 16 Di