Recently, A-share securities companies have successively released performance reports for the first half of 2020. Due to the COVID-19 epidemic, the industry income and net profit of security companies generally declined. The profound belief of industry leaders (300454. SZ) and Venus (002439. SZ) has all turned from profit to loss in the same period of last year, and the net profit has dropped by more than 250%. The biggest year-on-year decline in net profit was Geer Software (603232).
The reporter of "China Business News" learned that the collective performance of listed companies with safety concept "dived", mainly due to the business adjustment needs of upstream and downstream customers and the postponement of project resumption during the epidemic. At the same time, R&D and marketing continued to invest, and the cost increased while the gross profit margin decreased. The industry predicts that with the economic recovery in the second half of the year, the security market demand and revenue scale will slowly pick up, and network information security enterprises may develop in the direction of intelligence and platform in the future.
The first half of the year was very difficult.
The reporter collated and compared the 2020 interim performance reports of more than 20 security concept stocks, and found that the revenue declined to varying degrees year-on-year. Even if a few companies achieve growth, the range is limited, but the net profit has dropped by a large proportion year-on-year.
In the first half of 2020, the revenue of 360 (60 1360. SH) was 4.972 billion yuan, down by 16.08% year-on-year, and the net profit was1190,000 yuan, down by 72.39% year-on-year. It should be pointed out that 360' s main income comes from Internet advertising and service income. According to the official announcement, security and other income is 2160,000 yuan, accounting for only 4% of the total income.
Chianxin (68856 1。 SH), just landed in science and technology innovation board in July this year, and has been losing money for nearly three years. In the first half of this year, its net loss was 692 million yuan, a year-on-year increase. Deeply convinced that the revenue in the first half of the year was 65.438+0.744 billion yuan, up by 65.438+0.965.438+0% year-on-year, and it became one of more than 20 enterprises with obvious revenue growth, but it lost 65.438+0.26 billion yuan and made a profit of 66.85 million yuan in the same period last year. Venus Star's revenue and net profit both declined in the first half of the year, with revenue of 755 million yuan, down 14.45% compared with the same period of last year, and loss of 21382,800 yuan, down 25.546% year-on-year. Net loss of Shanshiwangke (688030). SH), which landed in science and technology innovation board last September, was 59.6343 million yuan, a year-on-year decrease of 25 1.64%. Geer Software also turned from profit to loss in the first half of last year, with a net loss of 3,490,438+million yuan, down 553.72% year-on-year.
Venus Star pointed out in the announcement that in the first quarter, the delay in the resumption of work by upstream and downstream enterprises and customers led to the corresponding delay in the execution, delivery and acceptance of some contracts of the company. The epidemic situation in the second half of the year is still an uncertain factor. If there is a big recurrence, it will affect the achievement of the annual performance target.
Except Venus Star, almost all security companies pointed out in their performance reports in the first half of the year that the shrinking market demand and the delay or stagnation of project bidding felt by the industry during the epidemic period had a direct impact on performance growth. For example, Shanshi. com said that in the first half of 2020, affected by the epidemic, the downstream customer groups in the network security industry showed a trend of deferred demand as a whole, and some customers who were greatly affected even experienced budget cuts. The company continued to strengthen investment in product research and development and marketing system construction, and the cost increased, which directly affected the profitability in the first half of the year.
A salesperson with five years' experience in network security told reporters that the first half of the year was really "hard" because the demand for network information security in many enterprises shrank in a special period, and the priority of related business development was not so high, which made it difficult to carry out sales work.
Market share is relatively scattered.
According to the Annual Report of China Network Information Security Market Research 20 19-2020 released by CCID Consulting, 2010 billion yuan, the network information security market in China will reach 60.865438 billion yuan, and the growth rate will be higher than 23% in the next three years, reaching 65.438+065438 in 2022. In recent years, with the transformation of network form, security products have also accelerated the transformation to service form. With the rapid development of cloud security services, emerging service modes such as automation, remote intelligent threat detection and threat intelligence are gradually accepted by customers, and the value of network security services is gradually recognized.
From the perspective of market structure, CCID Consulting pointed out that in 20 19, Chianxin ranked first in the market with an operating income of 3010.5 billion yuan, with a market share of 5.2%, Venus and Shen Xin ranked second and third respectively, with market shares of 5. 1% and 4.7% respectively. The market share of 10 top enterprises is 37.5%, and the industry concentration is not high.
In addition to security services, some network security companies are also expanding into SaaS cloud services, industrial applications, artificial intelligence and other aspects. For example, the "Tianrongxin" of Nanyang Co., Ltd. said that it will increase the research and exploration of new technologies, new products, new services and related cutting-edge technologies in the field of network security through independent research and development and strategic cooperation, mainly covering the next generation Internet, cloud computing, big data, Internet of Things and other fields.
Yang Delong, executive general manager of Qianhai Open Source Fund Management Co., Ltd., is optimistic about the network information security market. He believes that the performance in the first half of the year generally fell sharply and was hit by the epidemic. The application of mobile internet is more and more extensive, and the importance of risk prevention and security is increasing day by day, which is a favorable trend for participants in the network information security industry. With the economic recovery in the post-epidemic period, the industry performance will return to normal growth.
However, Li, the founder of new media, expressed concern about the growth of the network security market. The network security market will perform better only if it has a more open global market. At present, many demand-side enterprises, especially many small and medium-sized enterprises, are facing the problem of survival, and their demand and expenses for network security may be invested with the mentality of "saving as much as possible".
Wang Qinglin, an analyst with Ai Media Consulting, believes that during the epidemic, many individuals and companies' businesses gradually developed online, and the demand for network security gradually increased. In the long run, the network security industry will maintain a certain growth; In particular, the development of 5G, Internet of Things, big data, artificial intelligence and industrial Internet driven by new infrastructure also provides good development opportunities for network security companies. The concentration of the existing network security market will gradually increase, especially the network security service companies that provide SaaS security and remote security operation services will get better development. With the further intensification of market competition, network security services can be considered to develop towards automation, platform and intelligence.