Innovation is another important branch! Cryptography industry builds a "moat" industrial chain of digital economy.

Huaxi Securities recently released a research report, pointing out that the steady progress of "new infrastructure" has laid the foundation for the vigorous development of digital economy, and the digital transformation process of traditional services will inevitably involve information security issues, and passwords, as the "retaining ring" of information security, have become the "moat" of digital economy development. The development of new industries can not be separated from the construction of security capabilities, and passwords protect the security of new industries.

Data security incidents occur frequently, so it is necessary to find out the problems in time and improve them through regular secret assessment. In recent years, China's password industry has made remarkable progress in laws and regulations, algorithm standards, industry applications, and supervision system. Digitalization+compliance+innovation are three important factors to promote the rapid growth of the password industry, and the industry is expected to usher in a high degree of prosperity.

Password is the core technology and basic support to ensure the security of cyberspace. Password Law of People's Republic of China (PRC) divides passwords into core passwords, common passwords and commercial passwords. Since the "Fourteenth Five-Year Plan", the digital economy has become an important direction for China's economy to achieve high-quality development, and the importance of data-centric security has become increasingly prominent. As an important cornerstone of data security, password plays an important role in promoting the healthy and safe development of digital economy.

On June 20, 2022, 165438+ National Cryptography Administration issued nine cryptographic industry standards, involving many technical specifications such as network identity service, browser digital certificate, PLC control system, electronic signature service in cloud scene, and detection specifications of many products such as cryptographic cards, which laid a solid foundation for the development of cryptographic industry and the steady advancement of cryptographic evaluation.

In recent years, the laws and regulations of China's password industry have been gradually improved, which has accumulated momentum for the subsequent rapid development. From the perspective of protection objects, the Personal Information Protection Law (second draft) and the Data Security Law set clear protection objects for personal information or enterprise data security construction, which are the overall legal framework for data protection and data utilization. From a technical point of view, cryptography law defines the security technology route with cryptography as the core, which has formed a strong compliance incremental market for important information systems.

According to the data of Haibi Research Institute, the scale of new industries reached 922.02 billion yuan in 2022, with a compound growth rate of 35.7% in the past five years, and it is expected to exceed 2 trillion yuan in 2025. Cryptography is not only an important part of new ventures, but also tightens the "safety valve" for new ventures. The development of new industries has brought historical opportunities to the cryptography industry.

According to the statistics of CCID Research Institute, from 20 16 to 20021year, the compound annual growth rate of China commercial cipher industry reached 3 1%, and the industrial scale reached 58.5 billion yuan in 20021year. It is estimated that the scale of commercial password industry is expected to reach 93.75 billion yuan in 2023.

From the analysis of the industrial chain of cryptographic products and services supply, the upstream of the cryptographic industrial chain includes three categories: security chips, printed circuit boards and servers; Midstream is a product with cryptography as its core, including cipher machine/cipher card, digital certificate, vpn, token, electronic signature, quantum encryption and so on. Downstream mainly includes software, system integration and application fields.

Specifically, the companies involved in the upstream security chip field are Tongfang and Hualanwei. The listed companies involved in the circuit board field are Shennan Circuit and Yi Sheng Science and Technology. Companies involved in the server field are mainly Inspur Information. The enterprises involved in the field of cipher card of midstream cipher machine mainly include Visteon, digital authentication, three-dimensional principal, principal century and so on. The listed companies involved in the field of digital certificates mainly include digital authentication, Geer Software, Jida Jacky, Principal Century and so on.

The participating enterprises in the VPN field mainly include Shen Xin, Tianrongxin, Principal Century, Venus Star, Visteon, Geer Software, Dipu Technology and Qinanxin. Listed companies involved in token field mainly include Visteon, Digital Authentication, Principal Century, Tian Fei Chengxin, Haitai Fiona Fang, etc. Enterprises involved in the field of electronic signature mainly include digital authentication, Haitai Fiona Fang and Geer Software. Listed companies involved in quantum encryption are mainly Guo Dun Quantum and Kyushu Quantum; The enterprises involved in the downstream password management platform mainly include three-dimensional principal, digital authentication, principal century, Visteon and so on.

Yi Deng of Huachuang Securities and others said in the research report released on February 19 that companies related to the industrial chain are expected to continue to benefit. There are mainly Visteon (cipher chip, cipher machine, cipher card, digital authentication system, signature server, etc.). ), Principal Century (certificate authentication, security gateway, signature server, all-password security service platform, etc. ), Jida Jacky (electronic authentication, digital encryption, etc. ), geer software (public key infrastructure PKI, etc. ), three-dimensional headmaster (password chip, password block, password machine, etc. Electronic signature, cryptographic equipment, etc. ), Zhongfu information (cipher machine, cipher card, smart IC card, etc. ), Guo Xin Science and Technology (embedded CPU, etc. ), Xinyada (cipher machine, signature verification server, cipher card, payment cipher device, etc. ).

It is worth noting that the security assessment of commercial password applications is an indispensable part of the development of the password industry, but it is expensive, with a single charge of about 1.6 million yuan.