Jason Yap, CFA

Forensic Analyst

Deep-dive assessments of company accounting irregularities

Forensic Accounting

Sangfor Technologies Inc. operates as a global vendor for IT infrastructure solutions. The Company specializes in cloud computing, network security, including hyper converged infrastructure, virtual desktop infrastructure, application firewall, and more. Sangfor Technologies also offers internet access management, WAN optimization, VPN, and other services.

<ul>
<li>Sangfor is a leading cybersecurity products and solutions provider in China</li>
<li>Over the past 5 years, Sangfor delivered revenue CAGR of 32.9% and GP margins stable at 73.9%. The high GP margins are testament to Sangfor's strong product differentiation</li>
<li>CAS No. 14 affects Sangfor's security product revenues but this could be mitigated by fast growing cloud computing and wireless infrastructure services </li>
</ul>

Sangfor Technologies Inc

Sangfor Technologies (300454 CH) - Revenue Growth and Margin Profile Should Support Valuation