(Yicai Global) Sept. 12 -- China’s internet security giant Qihoo 360 Technology Co. is implementing its listing plan in strict accordance with laws and regulations and all other market rumors should be ignored, said its founder and chairman, Zhou Hongyi. He was commenting on rumors suggesting the company may soon resort to backdoor listing.
Qihoo 360 completed privatization in July 2016 and was delisted from the New York Stock Exchange (NYSE) primarily out of national security concerns, Zhou stressed. The company’s current products include information security protection solutions provided for the government and the military and, therefore, involve confidential information, he said.
However, the internet security industry lacks profitability, Zhou said, and Qihoo 360 will make inroads into some more profitable fields in the future, such as short video, game, and artificial intelligence (AI) hardware.
China attaches great importance to internet security, but given the scale of the domestic industry, there is a serious shortage of technicians, Zhou added.
“Internet security is not only about the security of the internet itself, but also about security in a broader sense, including our national security, infrastructure security, personal security, etc.,” he said, “I hope China can become an internet security power within the next five years.”