Guolian Minsheng: Cybersecurity's Strategic Importance Is Unprecedented in the Large-Model Era
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Guolian Minsheng Securities' computer-industry deep report argues that cybersecurity's strategic importance has never been higher in the era of large models. Since 2026, security incidents at leading LLM providers have been disclosed in rapid succession; the application layer has become a new attack surface, and AI on the offensive side has evolved from an assistive tool into an autonomous executor, turning security defense from optional into mandatory. Global information-security spending keeps growing at double digits, projected to reach $240 billion in 2026, up 12.5% year over year, with AI-driven malicious data breaches accounting for over a quarter of incidents and deepfake voice and face fraud entering large-scale criminal use. Overseas leaders have validated AI-security revenue through ARR, while the domestic market has entered an order-validation phase, with AI security emerging as an independent demand and supply category. The industry is unfolding along a path of escalating attacks, mandatory defense, and revenue realization. For H2 2026, watch overseas leaders' AI-security ARR, domestic order landings, and compliance policies. The report suggests attention to A-share cybersecurity firms with completed security-model and agent deployments, including 360 Security Technology, Sangfor, Qi An Xin, NSFOCUS, Venustech, Topsec, AsiaInfo Security, DBAPP Security, Hillstone Networks, and Koal Software, among others.
Key exhibits
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