每经AI快讯，东阳光药(06887.HK)午后涨超6%，截至发稿，涨6.55%，报46.2港元，成交额3062.89万港 元。 （文章来源：每日经济新闻） ...

值得注意的是，东阳光药近日公告，集团持续深化AI战略布局，推出面向PROTAC机制的AI智能研发平 台，实现从数据底座到"干湿闭环"，数据规模与结构粒度均显着领先于现有公开数据库，为AI驱动的 PROTAC理性设计提供了全面、系统的数据基础，加速PROTAC先导化合物的理性设计与临床转化。 东阳光（600673）药(06887)午后涨超6%，截至发稿，涨6.55%，报46.2港元，成交额3062.89万港元。 消息面上，1月16日，自主研发的1类创新药奥洛格列净胶囊已获国家药监局批准上市，用于单药或联合 二甲双胍改善成人2型糖尿病患者的血糖控制。东阳光药相关负责人表示，奥洛格列净的获批是东阳光 药在慢性病长期管理版图中迈出的扎实一步。 ...

值得注意的是，东阳光药近日公告，集团持续深化AI战略布局，推出面向PROTAC机制的AI智能研发平 台，实现从数据底座到"干湿闭环"，数据规模与结构粒度均显着领先于现有公开数据库，为AI驱动的 PROTAC理性设计提供了全面、系统的数据基础，加速PROTAC先导化合物的理性设计与临床转化。 智通财经APP获悉，东阳光药(06887)午后涨超6%，截至发稿，涨6.55%，报46.2港元，成交额3062.89万 港元。 消息面上，1月16日，自主研发的1类创新药奥洛格列净胶囊已获国家药监局批准上市，用于单药或联合 二甲双胍改善成人2型糖尿病患者的血糖控制。东阳光药相关负责人表示，奥洛格列净的获批是东阳光 药在慢性病长期管理版图中迈出的扎实一步。 ...

格隆汇1月21日｜国投证券研报指出，收购交割完成，东阳光正式切入高景气IDC赛道。公司已完成全 部出资，收购主体已支付完毕280 亿元交易价款。此次交割完成标志着公司正式切入高速发展的IDC 与 算力基础设施赛道，业务结构实现从"传统制造"向"制造+算力"双轮驱动的战略升级。公司作为电子材 料与化工产业链龙头，正通过"制造+算力"双轮驱动实现战略升级，认为公司具备明确的成长机遇与估 值提升动力。预计东阳光2025-2027年营业收入分别为140.53亿元、160.06亿元、179.25亿元，净利润分 别为13.76亿元、19.04亿元、22.30亿元，给予26年56倍PE，目标价35.28元，维持"买入-A"投资评级。 ...

Group 1 - The core point of the article is the approval of the first-class new drug Ologliptin capsules by the National Medical Products Administration (NMPA), aimed at improving blood sugar control in adults with type 2 diabetes, marking a significant entry into the billion-dollar diabetes medication market [1][4][14] Group 2 - Ologliptin is an SGLT2 inhibitor that utilizes a "dual-channel" mechanism for precise blood sugar control, effectively promoting urinary glucose excretion while reducing glucose absorption in the intestines, thus addressing the comprehensive blood sugar management needs of type 2 diabetes patients [4][9] - The diabetes medication market is highly competitive, with sales expected to exceed 57 billion yuan in 2024, and Ologliptin's approval is seen as a critical driver for the company's market entry [4][14] Group 3 - The development of Ologliptin took ten years, showcasing the company's commitment to innovation, with the drug's clinical application submitted in May 2015 and approval achieved in January 2026 [6][14] - The company has a strong foundation in diabetes medications, holding over ten production approvals for various diabetes treatments, which positions it well for future pipeline advancements [6][14] Group 4 - The SGLT2 inhibitor market in China is becoming increasingly competitive, with multiple innovative drugs already approved and included in medical insurance, leading to intense competition from generic drugs [9][13] - The company is building a differentiated advantage through a comprehensive metabolic pipeline, covering a wide range of diabetes treatments and related metabolic diseases, which enhances its competitive position [13][14] Group 5 - The launch of Ologliptin is a catalyst for the company's metabolic pipeline development and represents a key step from a "single-point breakthrough" to an "ecological layout" in the diabetes treatment sector [14] - The company plans to accelerate the commercialization of Ologliptin while continuing to innovate in the diabetes field, expanding from core glucose control to comprehensive management of complications and metabolic diseases [14]

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 35.28 CNY for the next 6 months [7][9]. Core Insights - The completion of the acquisition of Qinhuai Data for 28 billion CNY marks Dongyangguang's entry into the high-growth IDC sector, transitioning from traditional manufacturing to a dual-driven strategy of "manufacturing + computing power" [1]. - Qinhuai Data, a leading neutral third-party large-scale computing infrastructure operator in China, has shown strong growth with a 49.7% year-on-year revenue increase in Q2 2023 and an adjusted EBITDA margin of 52.5% [2]. - The company has a high contract lock-in rate of 90%, with over 95% of contracts being longer than 10 years, indicating strong revenue certainty [2]. - The IDC market in China is projected to exceed 650 billion CNY by 2030, with Qinhuai Data's first-mover advantage and customer stickiness expected to drive continued performance [2]. - Dongyangguang is leveraging technological synergies with Qinhuai Data to enhance its "production-computing-electricity" integration, focusing on energy-efficient solutions for high-power AI servers [3][8]. Financial Projections - Revenue projections for Dongyangguang are estimated at 14.05 billion CNY in 2025, 16.01 billion CNY in 2026, and 17.93 billion CNY in 2027, with net profits expected to reach 1.38 billion CNY, 1.90 billion CNY, and 2.23 billion CNY respectively [9][11]. - The company is expected to achieve a PE ratio of 56 times in 2026, reflecting its growth potential and valuation uplift [9].

此次收购是近年来亚洲地区算力基础设施领域规模最大的收购交易之一，为双方业务协同发展开启了新 阶段。 市场分析指出，本次并购有利于东阳光延伸产业链布局、优化业务结构。随着后续整合推进，双方有望 在技术、运营与资源方面形成协同，共同构建"绿电—硬件技术—算力—人工智能—运营"联动的数字基 础设施生态。（李颖） 据悉，秦淮数据集团是行业内领先的第三方超大规模算力基础设施解决方案运营商，在集约化发展、绿 色低碳运营方面居于前列。截至目前，秦淮数据运营及未来规划的算力总负载规模达5GW，已形成横 贯东西、纵贯南北的资源网络。 转自：新华财经 东阳光集团旗下拥有东阳光（600673.SH）与东阳光长江药业（01558.HK）两家上市公司，员工总数近 3万人，产业布局聚焦于电子新材料、生物医药及健康养生三大领域，已在广东、湖北、浙江等地建成 七大产业基地，位列中国民营企业500强。其中，集团在湖北宜都建设的基地累计投资已超过260亿元， 当地员工规模近万人，累计为地方贡献税收逾120亿元。 近日，由深圳市东阳光实业发展有限公司牵头，联合其旗下上市公司东阳光（600673.SH）及其他投资 人共同组成的买方团，以现金支付方式 ...

东阳光在电子新材料领域深耕多年，在氟化冷却液、冷板组件等液冷核心材料，以及积层箔电容器等关 键电子元器件方面拥有深厚技术积累。其自主研发的积层箔电容器，比传统化成箔电容器比容提高40% 以上，容量密度提升30%，还能减少40%的铝材消耗，既契合高效算力需求，又符合绿色发展理念。而 秦淮数据作为国内领先的超大规模算力基础设施解决方案运营商，在数据中心建设、运营管理及算力资 源配置方面拥有成熟经验，更具备大规模、高密度的实际应用场景。 产业协同的深度落地，离不开区域资源的精准匹配。在完成收购签约后，东阳光集团与秦淮数据依托各 地资源禀赋，在韶关、乌兰察布、宜昌三地推进系列合作项目，构建起跨区域的"产算电"一体化协同网 络。 本报讯(记者李雯珊见习记者张美娜)近日，广东东阳光（600673）科技控股股份有限公司(以下简称"东 阳光")发布公告，宣布由控股股东深圳市东阳光实业发展有限公司(以下简称"东阳光集团")携手东阳光 领投，联合其他投资人共同组成买方团，采用现金支付方式，以280亿元完成对北京秦淮数据有限公司 (以下简称"秦淮数据")中国区业务的收购交割。 据悉，这是近年来亚洲地区规模最大的算力产业收购案。此次 ...

Summary of Conference Call on Domestic Chip Industry Industry Overview - Focus on the domestic chip industry, particularly in relation to the H200 AI chip and the tight supply of materials for intelligent computing servers [1][2] Key Points and Arguments - **H200 Chip Export Regulations**: The U.S. government has relaxed export controls on the H200 chip but with stringent conditions. Exports to China must undergo compliance testing and the quantity obtained by mainland China and Macau cannot exceed 50% of the total purchased by U.S. clients [1][2] - **Impact on Domestic Chips**: The H200 chip is not expected to significantly impact domestic chip manufacturers due to differing use cases and ongoing policy support for local production [1][2] - **Supply Shortages in AI Chips**: Strong demand for overseas AI chips has led to supply shortages, particularly affecting server CPUs from AMD and Intel, which are experiencing inventory shortages and price increases of 10%-15% [1][2] - **Opportunities for Domestic Suppliers**: The supply chain shortages may benefit domestic chip suppliers, allowing them to increase prices or enter the supply chains of major domestic cloud service providers (CSPs) [1][2] Additional Important Information - **Key Domestic Chip Players**: - AI Chips: Haiguang Information, Cambricon, Huawei Chain, and Biren Technology - CPUs: Haiguang Information, with potential price increases or entry into major manufacturers' supply chains - Other server chips: Haiguang Information and Lanke Technology for PCIe switches, and Shengke Communication for switching chips [3][4] - **Increased Tender Demand**: The demand for tenders has significantly increased, indicating a robust market for domestic chip manufacturers despite the challenges posed by the H200 chip [4]

Core Insights - The acquisition of Qinhuai Data's China operations by Dongyangguang Group for 28 billion yuan marks a significant milestone in the computing power industry, being one of the largest transactions in Asia in recent years [1] - This acquisition is not merely a financial integration but represents a deep industrial collaboration focused on technological complementarity, resource synergy, and scenario empowerment, setting a new benchmark for industry integration in the digital economy era [1] Technical Collaboration - The acquisition addresses the long-standing disconnect between core component manufacturing and actual application scenarios in the computing power infrastructure sector, facilitating seamless technical integration between Dongyangguang Group and Qinhuai Data [2] - Dongyangguang has extensive expertise in electronic materials, particularly in liquid cooling core materials and key electronic components, which enhances efficiency and aligns with green development principles [2] Regional Collaboration - Dongyangguang Group and Qinhuai Data are leveraging regional resources to establish a "production-computing-electricity" integrated ecosystem across three locations: Shaoguan, Ulanqab, and Yichang [4][5] - In Shaoguan, a large-scale green intelligent computing center is planned, while in Ulanqab, a zero-carbon intelligent computing park is being developed, utilizing local renewable energy resources [4][5] Green Collaboration - The partnership emphasizes low-carbon development and aligns with the dual carbon strategy, with Dongyangguang providing clean energy to Qinhuai Data's data centers, significantly reducing operational costs [6] - The collaboration integrates green development principles throughout the entire industry chain, from resource-efficient production processes to optimized resource allocation [6] Ecological Collaboration - The acquisition fosters cross-enterprise and cross-field ecological synergy, creating a complete industrial collaboration system that integrates materials, energy, computing power, and services [7] - This collaboration is expected to stimulate regional industrial upgrades and attract upstream and downstream enterprises, contributing to the development of large-scale electronic information and big data industry clusters [7] Future Outlook - The successful completion of the 28 billion yuan acquisition is seen as the starting point for ongoing collaboration between Dongyangguang Group and Qinhuai Data, aiming to deepen the integration of materials and computing power scenarios [8] - The partnership is positioned to contribute significantly to the national "East Data West Computing" strategy and the construction of a digital China, unlocking substantial value in the computing power industry [8]