What Sansec does

Sansec Technology Co., Ltd. (北京三未信安科技股份有限公司), listed on the Shanghai Stock Exchange (sse:688489) since 2022, is a Beijing-headquartered cryptographic infrastructure vendor founded in August 2008, with a stated R&D center in Jinan and branch offices and subsidiaries in Shanghai, Guangzhou, Nanjing, Wuhan, Hong Kong, and Singapore. The company builds Hardware Security Modules (PCIe HSM, Cloud HSM with up to 128 virtual HSMs per device, General Purpose HSM, Payment HSM, and the FIPS 140-2 Level 3 certified HSM Cryptographic Module), proprietary cryptographic chips (XS100, XR100, XT100, and the RISC-V-based XT200), the SecKMS key management system, and a full range of Post-Quantum Cryptography products supporting NIST-standardized algorithms (KYBER, DILITHIUM, FALCON, SPHINCS+). Specialized offerings include Blockchain HSM, Privacy-Preserving Computing HSM, the Anti-Quantum Privacy Calculator, and the SecHAC PAM privileged access management system, plus the SEC-AI Server for on-premises large language model deployment.

The company's customer base spans 80+ Fortune Global 500 organizations across financial services (Agricultural Bank of China, ICBC, China Merchants Bank, Postal Savings Bank, HSBC, Citi), energy (State Grid, Sinopec, Shell), automotive and IoV (Volkswagen, Daimler, Yutong, Foton), technology and e-commerce (Amazon, Apple, Microsoft, Samsung, Alibaba, JD.com), and telecommunications (China Mobile), with named deployments in IC card issuance, ATM/POS, online banking, big data platforms (Hadoop, CDH, Huawei FusionInsight), cloud (AWS, Huawei Cloud, Alibaba Cloud, Tencent Cloud, Jingdong Cloud, Tianyi Cloud), and connected vehicles. Revenue is generated through quote-based B2B hardware sales of HSMs and chips, subscription/recurring revenue from SecKMS software, professional services with 24/7 support backed by SLA>=99.9%, and additional service revenue from technical support. Distribution combines direct enterprise field sales, cloud-platform integration partnerships (AWS, Huawei Cloud, Alibaba Cloud, Tencent Cloud), strategic co-development partners (Jingdong Cloud, Huawei, China Mobile Research Institute, China Telecom Tianyi Cloud, VISA), and channel/reseller arrangements; standards development and conference participation (RSA Conference, Commercial Cryptography Conference, CSA Greater China, IDC recognition) support top-of-funnel awareness. Qualifications include the first FIPS 140-2 Level 3 HSM certification in China (2019), CMMI-DEV ML-5 (2022), ISO 20000 and ISO 27001 for the support center, MLPS 2.0 and Cryptography Law compliance, and participation in 90+ national and industry standardizations.

Name

Sansec

Legal name

Sansec Technology Co., Ltd.

Website

https://en.sansec.com.cn

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Sansec is a Beijing-based cryptographic infrastructure vendor, publicly listed on the Shanghai Stock Exchange since 2022, that builds Hardware Security Modules, proprietary cryptographic chips, key management systems, and post-quantum cryptography solutions for 80+ Fortune Global 500 customers across financial services, energy, automotive, and cloud.

Ownership category

akta.pro rank

Product category

Cryptographic Hardware Security

NAICS

Computer Systems Design and Related Services (5415)

SIC

Computer Peripheral Equipment, Nec (3577)

akta.pro primary industry

Confidential Computing & Hardware-backed Protection (TEE/HSM) (HDADAFAJ)

akta.pro secondary industries

Key Management, Encryption & Secrets Management (KMS/HSM/Vault) (HDABAHAG), Security & Trusted Hardware ICs (Secure Element/TPM/Crypto) (HDAHABAF)

Keywords

• Hardware security modules
• Cryptographic infrastructure
• Key management systems
• Post-quantum cryptography
• IoT security chips

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Hardware Security Modules (HSM): Sale of cryptographic hardware including PCIe HSM, Cloud HSM, General Purpose HSM, and Payment HSM. Products are deployed in enterprise data centers and cloud environments for key management and cryptographic operations.
2. Cryptographic Chips: Sale of proprietary cryptographic chips including XS100, XR100, XT100, and XT200 for IoT, blockchain, and general cryptographic applications.
3. Cryptographic Software Systems: Key Management System (SecKMS) and cryptographic middleware providing key lifecycle management and encryption services.
4. PQC Products: Post-Quantum Cryptography products and solutions including PQC chips, HSMs, and systems for quantum-resistant security.
5. Technical Support Services: Professional technical support including 24/7 monitoring, on-site inspection, spare devices, and SLA >= 99.9% service commitments.

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Sansec develops and sells cryptographic hardware devices and embedded security software for enterprise and government customers. Its core offerings are a family of Hardware Security Modules (HSMs) — PCIe, Cloud, General Purpose and Payment HSMs — complemented by self-developed cryptographic chips (XR100 random number, XT100/XT200 IoT security), the SecKMS Key Management System and a full range of Post-Quantum Cryptography products. The company serves financial, government, automotive, telecommunications, cloud and big data customers with FIPS 140-2 Level 3 certified infrastructure supporting both Chinese SMx commercial algorithms and international standards.

Product overview

Sansec is a cryptographic infrastructure provider offering a comprehensive portfolio of hardware and software security products. The product portfolio centers on Hardware Security Modules (HSMs) including PCI-E HSM, Cloud HSM, General Purpose HSM, Payment HSM, and the Sansec HSM Cryptographic Module (FIPS 140-2 Level 3 certified). These core hardware products are complemented by the SecKMS (Key Management System) for centralized cryptographic key management. The company has expanded into Post-Quantum Cryptography (PQC) products covering chips to full systems, and AI-enabled solutions including the SEC-AI Server. Specialized offerings include IoT security chips (XT100, XT200), random number chips (XR100), Blockchain HSM, Privacy-Preserving Computing HSM, and the SecHAC PAM System. Solutions span financial systems, big data security, and Internet of Vehicles applications.

Differentiator

Problem solved

Functional benefit

Products and services

• PCI-E HSM Cryptographic hardware device providing digital signature and data encryption to ensure data confidentiality, integrity and cryptographic functions. Features high-speed and multi-task parallel processing cryptographic operations with high compatibility for different platforms and applications. Targeted at enterprises and financial institutions needing PCIe form factor HSM.
• Cloud HSM Cloud-native Hardware Security Module designed for cloud computing environments. One HSM can virtualize up to 128 virtual cryptographic HSMs (VSMs), each providing data encryption/decryption, message source verification and key management. Integrated with AWS, Huawei Cloud, Alibaba Cloud and Tencent Cloud.
• General Purpose HSM Fundamental cryptographic hardware device for various cryptographic security systems. Ensures confidentiality, integrity and effectiveness of transmitted information through digital signature and encryption. Applied to e-government, e-commerce and enterprise information systems.
• Payment HSM (Financial HSM) Cryptographic equipment providing cryptography-based protection for IC cards, ATM/POS networking and inter-bank transactions. Protects PIN in financial networks and prevents fake card fraud with comprehensive key management system. Built for banks and payment processors.
• Sansec HSM Cryptographic Module FIPS 140-2 Level 3 compliant cryptographic module for deployment into various cryptographic security systems. Ensures confidentiality, integrity and effectiveness through digital signature and encryption. High-speed multi-task parallel processing.
• Sansec Key Management System (SecKMS) Highly available and scalable enterprise cryptographic product using HSM to protect cryptographic keys. Supports management of symmetric keys, asymmetric keys, digital certificates and authentication tokens with centralized key management reducing maintenance costs. Supports PKCS#11, JCE, CSP, RESTFUL and KMIP.
• PQC Products (Full Range) Full range of Post-Quantum Cryptography products covering PQC chips to HSM and systems. Compatible with traditional cryptographic technology systems with Post-Quantum reinforcement functions. Supports four NIST-standard PQC algorithms: KYBER, DILITHIUM, FALCON and SPHINCS+.
• SEC-AI Server High-security AI integrated device for local deployment of large language models, combining cryptographic and AI technology accumulation with powerful cryptographic ability and rich application scenarios. Addresses security challenges in localization deployment of LLMs.
• Internet of Vehicles (IoV) Solutions Cryptographic solutions for intelligent connected vehicles covering cloud service (TSP), pipeline transmission and terminals. Includes CA, KMS, Cloud HSM, DB HSM for key management, security authentication, transmission encryption and data protection. Deployed at Daimler, Yutong, Foton Motor and AUTOAI.
• Big Data Security Solutions Big data full lifecycle security system based on cryptographic technology. Provides application-layer data encryption, key management via HSM and KMIP, independent access control, ciphertext retrieval and homomorphic encryption. Supports Hadoop, CDH, Huawei FusionInsight, H3C Dataengine platforms.
• Financial System Solutions Cryptographic solutions for financial industry covering IC card issuance, IC card transactions, online banking, second-generation payment system, and credit system. Includes PBOC3.0 standard support and Chinese/international algorithm compatibility. Deployed at Agricultural Bank of China, ICBC, China Merchants Bank and Postal Savings Bank of China.
• XT200 IoT Security Chip RISC-V based IoT security chip with 150MHz maximum frequency. Supports Chinese cryptographic algorithms (SM1/SM2/SM3/SM4/SM7/SM9/ZUC) and international algorithms (AES/DES/RSA2048/ECDSA/SHA256). SM2 signature performance up to 10,000 times/second, SM4 encryption up to 70Mbps. Suitable for data security, IoV, security gateway, industrial internet, blockchain applications.
• XR100 Random Number Chip True random number generation chip released at the Commercial Cryptography Conference. Part of Sansec's cryptographic chip portfolio covering high, medium and low levels of cryptographic chips.
• XT100 IoT Security Chip IoT security chip for low-to-medium security applications. Part of three new cryptographic chips released at Commercial Cryptography Conference in February 2024 covering high, medium and low security tiers.
• Blockchain HSM HSM designed for blockchain security applications with support for blockchain-specific cryptographic algorithms including ECDSA (secp256r1/secp256k1/Ed25519) for digital wallets. Launched at Commercial Cryptography Conference.
• Privacy-Preserving Computing HSM HSM for privacy-preserving computation scenarios enabling secure multi-party computation with cryptographic protection, designed for organizations performing collaborative analytics on encrypted data.
• Anti-Quantum Privacy Calculator Anti-quantum cryptographic product filling the gap in anti-quantum cryptographic algorithms and privacy calculations. Part of Sansec's anti-quantum cryptographic product line including anti-quantum cryptographic cards, machines and chips.
• Cloud Key Management Services Third-party key management service enabling BYOK (Bring Your Own Key) security management for cloud data protection. Provides users with secure and reliable third-party key management for cloud-hosted applications.
• Open-Source LLM Cryptographic Suite Risk assessment tool for security of open-source large language model running frameworks. Helps users build secure and reliable environments for LLM deployment by evaluating cryptographic posture of LLM stacks.
• SecHAC PAM System Privileged Access Management (PAM) system for operational and maintenance internal control compliance. Features certificate USBKEY for MFA authentication, SSO auto-fill for servers, monitoring and auditing with fully localized delivery, comprehensive SQL database alerting and dedicated hardware for offline protection.

Quantifiable outcome

• Over 250 Magento/Adobe Commerce stores were targeted by hackers exploiting CVE-2025-54236 vulnerability within a day of public disclosure
• +3 more outcomes

Named customers23 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability3 records

Feature6 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Jingdong CloudcoreStrategic or Co-development Partner · 28 February 2024Sansec and Jingdong Cloud signed a strategic cooperation agreement at Jingdong Cloud City Summit. The partnership focuses on enterprise digital transformation on cloud and cryptography security cooperation, creating cloud-based data security solutions for government, enterprises, education, and healthcare sectors.
• HuaweicoreStrategic or Co-development PartnerReleased 'All-in-One Solution for Key Management Based on Kunpeng Platform' with Huawei. Sansec participated in Kunpeng All-in-One Product Release Ceremony as a partner. Also co-founded Advanced Cryptography Innovation Laboratory with China Mobile, Huawei, and other institutes.
• China Telecom Tianyi CloudcoreGTM or Marketing PartnerStrategic partner of Tianyi Cloud, showcasing innovative cryptographic achievements and products at Tianyi Cloud exhibitions. Joined Xinjiang Tianyi Cloud Ecological Alliance as member.
• China Mobile Research InstitutecoreStrategic or Co-development PartnerCo-founded Advanced Cryptography Innovation Laboratory with China Mobile Research Institute, CAICT, and 20 other institutes. Focuses on next-generation cryptography system design and quantum cryptography research for mobile networks.
• VastdataminorStrategic or Co-development PartnerSigned strategic cooperation agreement with Vastdata for Vehicle Networking cryptographic ecosystem development.
• Chongqing YuanwangminorStrategic or Co-development PartnerSigned strategic cooperation for IoV cryptographic solutions development.
• Chongqing ShudaminorStrategic or Co-development PartnerSigned strategic cooperation for IoV cryptography integration development.
• Zhongke WengeminorStrategic or Co-development PartnerSigned strategic cooperation for Vehicle Networking and cryptography ecosystem development.
• VISAcoreStrategic or Co-development PartnerEstablished strategic cooperation with VISA in 2016, one of the first Level 3 HSM providers in China supporting international payment standards.
• AWScoreTechnology or IntegrationCloud HSM integrated with AWS cloud platform for cryptographic services.
• Alibaba CloudcoreTechnology or IntegrationCloud HSM integrated with Alibaba Cloud for cloud-based cryptographic services.
• Huawei CloudcoreTechnology or IntegrationCloud HSM integrated with HUAWEI Cloud for cryptographic services.
• Tencent CloudcoreTechnology or IntegrationCloud HSM integrated with Tencent Cloud for cryptographic services.
• Hainan Provincial Commercial Cryptography AssociationminorOthersAs one of the first members, Sansec participates in promoting Hainan Free Trade Port digital industry internationalization and market development.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Utimaco: German-based HSM specialist (Atalla, u.trust) offering payment HSM, general purpose HSM, and cloud HSM with FIPS 140-2 Level 3 and CC EAL4+ certifications. Closest direct competitor to Sansec's Payment HSM and Cloud HSM globally.
• Futurex: US-based HSM and key management vendor serving banks, payment processors, and cloud providers with KMIP-compatible HSM clusters. Comparable to Sansec in financial-sector HSM deployment and SecKMS competitive positioning.
• Entrust: Provider of nShield HSMs alongside PKI and identity solutions for financial and government customers. Directly competes with Sansec's general purpose HSM and SecKMS in enterprise cryptographic infrastructure.
• Thales (Thales eSecurity / Imperva): Largest global HSM vendor with the Luna HSM product family serving banks, governments, and cloud providers with FIPS 140-2 Level 3 certified hardware. Directly competitive with Sansec's PCI-E HSM, Cloud HSM, and Payment HSM lines.

Others

• Venafi (CyberArk): Machine identity and TLS key management vendor acquired by CyberArk. Adjacent to Sansec's SecKMS offering but focused on software-driven certificate and key lifecycle rather than hardware HSM.

Broad incumbents

• IBM Security: Broad cybersecurity incumbent with IBM Cloud HSM and Guardium data encryption portfolio. Overlapping capabilities with Sansec's HSM and big data security solutions at enterprise scale, though IBM's portfolio extends well beyond cryptography.
• AWS CloudHSM: Cloud-native HSM service from Amazon Web Services using third-party HSM hardware. Sansec's Cloud HSM is integrated with AWS as a partner solution, making AWS both a competitor and distribution channel for cloud-deployed cryptographic services.
• Atos (Eviden) / Bull HSM: European IT services giant (Eviden business) offering Bull HSM hardware for government-grade cryptography. Comparable to Sansec in the HSM product category, particularly for European and government customers.

Emerging players

• Keyfactor: PKI, certificate lifecycle management, and quantum-safe readiness vendor. Competes with parts of Sansec's SecKMS and PQC portfolio in the software-managed key/certificate layer.
• Yubico (YubiHSM): Hardware security key and YubiHSM 2 provider focused on smaller-scale enterprise and developer deployments. Competes in adjacent tier of HSM market relevant to Sansec's XT200 IoT security chip and lower-end deployments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sansec