Investment Rating - The report assigns a "Buy" rating for the company [3][56]. Core Insights - The company is acquiring a leading C-end computing power provider, AutoDL, to enhance its AI computing cloud platform capabilities, aiming to capture a significant market share in the GPU cloud service sector [4][13]. - The company is expected to benefit from the ongoing IT system centralization by major telecom operators, which is projected to drive revenue growth in the coming years [27][41]. - The financial forecasts indicate a revenue growth trajectory from 28.70 billion to 43.69 billion RMB from 2025 to 2027, with a corresponding increase in net profit [6][56]. Summary by Sections Acquisition and Strategic Layout - The company plans to acquire a 51% stake in AutoDL, which operates the largest C-end AI computing power cloud platform in China, significantly enhancing its market position [4][13]. - The acquisition is expected to create a resource pool of nearly 40,000 GPU cards, serving over 700,000 C-end users and 6,000 enterprises [24]. Market Potential and Performance - The independent GPU cloud service market in mainland China is projected to exceed 230 billion RMB by 2027, with the company targeting a 20% to 50% market share in the educational and research sectors [14][19]. - The company has made significant progress in its Inner Mongolia intelligent computing center project, which is expected to generate substantial revenue from major internet clients [20][21]. Financial Projections - The company anticipates total revenue of 28.70 billion RMB in 2025, with a year-on-year growth of 2.8%, and expects to reach 43.69 billion RMB by 2027, with a growth rate of 23.6% [6][56]. - The net profit forecast shows a recovery from a loss of 1.00 billion RMB in 2025 to a profit of 2.90 billion RMB by 2027, indicating a positive trend in profitability [6][56]. Valuation and Comparison - The company's valuation appears reasonable compared to peers, with projected P/E ratios of 86.26 and 42.69 for 2026 and 2027, respectively [56][57]. - The report highlights the company's strategic positioning in the recovering industry, emphasizing its potential for long-term growth through acquisitions and new product developments [56].

Core Insights - On September 30, Dongfang Guoxin's stock increased by 0.65% with a trading volume of 286 million yuan [1] - The company reported a net financing outflow of 17.55 million yuan on the same day, with a total financing balance of 909 million yuan [1][2] - As of June 30, the company experienced a year-on-year revenue decline of 8.37%, totaling 941 million yuan, and a net loss of 79.17 million yuan [2] Financing and Margin Trading - On September 30, Dongfang Guoxin had a financing buy amount of 33.74 million yuan and a financing repayment of 51.29 million yuan, resulting in a net financing buy of -17.55 million yuan [1] - The current financing balance of 907 million yuan accounts for 7.32% of the company's market capitalization, indicating a high level compared to the past year [1] - The margin trading data shows a low short selling balance of 1.6962 million yuan, below the 20th percentile of the past year [1] Shareholder and Dividend Information - As of June 30, the number of shareholders decreased by 4.37% to 85,700, while the average circulating shares per person increased by 4.57% to 10,573 shares [2] - Since its A-share listing, Dongfang Guoxin has distributed a total of 156 million yuan in dividends, with no dividends paid in the last three years [3] - The top ten circulating shareholders include Hong Kong Central Clearing Limited and various ETFs, with notable increases in holdings [3]

Core Insights - A new company named Beijing Linkong Smart Port Technology Co., Ltd. has been established with a registered capital of 300 million yuan [1] - The company's business scope includes services related to artificial intelligence (AI) public service platforms, AI public data platforms, AI general application systems, Internet of Things (IoT) technology services, and sales of integrated circuit chips and products [1] - The company is jointly held by Dongfang Guoxin and other stakeholders [1]

Core Insights - A new company, Beijing Lintong Smart Port Technology Co., Ltd., has been established with a registered capital of 300 million yuan [1] - The company's business scope includes services related to artificial intelligence public service platforms, AI public data platforms, general AI application systems, IoT technology services, and sales of integrated circuit chips and products [1] - The company is jointly held by Dongfang Guoxin (300166) and other stakeholders [1]

Core Viewpoint - The company emphasizes its commitment to collaboration and partnership with outstanding enterprises to promote the development of the digital economy [1] Group 1 - The company maintains an open attitude towards technology and business [1] - The company adheres to the principle of win-win cooperation and complementary advantages [1] - The company is actively seeking opportunities for collaboration with excellent enterprises [1]

Group 1 - The core viewpoint of the articles highlights that Dongfang Guoxin has completed a controlling acquisition of Shituoyun, which is expected to alleviate historical performance burdens and lay a solid foundation for profit recovery [1][2] - The company acquired a 33.3529% stake in Shituoyun for 133 million yuan, increasing its ownership to 51%, thus incorporating Shituoyun into its consolidated financial statements [1] - Shituoyun is recognized as a leading C-end AI computing power service platform in China, operating the largest AI computing power retail platform, AutoDL.com, covering various business areas including computing power retail and AI cloud computing [1] Group 2 - The company is focusing on strategic collaboration with Shituoyun, aiming to deepen business synergy and accelerate the construction of a computing power application ecosystem [2] - Future initiatives include seizing opportunities in IT centralization among operators, expanding market share, and ensuring the construction and operation of the Lin'geer intelligent computing center [2] - The company plans to explore new growth models in ToC data services while maintaining a cautious approach to mergers and acquisitions, emphasizing post-merger integration and risk awareness [2]

（编辑 任世碧） 证券日报网讯 9月29日晚间，东方国信发布公告称，公司于2025年9月15日召开第六届董事会第一次临 时会议和2025年9月26日召开2025年第二次临时股东会，审议通过《关于变更公司经营范围及修订〈公 司章程〉的议案》。公司已于2025年9月28日完成上述事项的工商变更登记及《公司章程》的备案手 续，并取得北京市朝阳区市场监督管理局换发的《营业执照》。 ...

2. 统一社会信用代码：91110000633027609B 证券代码：300166 证券简称：东方国信 公告编号：2025-064 北京东方国信科技股份有限公司 关于完成工商变更登记并换发营业执照的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 北京东方国信科技股份有限公司（以下简称"公司"）于 2025 年 9 月 15 日召开第六届董事会第一次临时会议和 2025 年 9 月 26 日召开 2025 年第二次临 时股东会，审议通过《关于变更公司经营范围及修订〈公司章程〉的议案》，具 体内容详见公司于 2025 年 9 月 15 日在巨潮资讯网（www.cninfo.com.cn）披露的 《关于变更公司经营范围及修订〈公司章程〉的公告》（公告编号：2025-061）、 2025 年 9 月 26 日在巨潮资讯网（www.cninfo.com.cn）披露的《2025 年第二次临 时股东会决议公告》（公告编号：2025-063）。 公司已于 2025 年 9 月 28 日完成上述事项的工商变更登记及《公司章程》的 备案手续，并取得北京市朝阳区市场监督管理 ...

Core Insights - Oriental国信 has launched a big data solution based on Huawei's Kunpeng architecture, showcasing its commitment to technological innovation and collaboration with Huawei [1][2] - The company has developed a comprehensive technology system integrating big data, AI, cloud computing, industrial internet, and 5G, enhancing its competitive edge in the market [2] - Oriental国信 is expanding its collaboration with Huawei in general computing, focusing on the application iteration of Kunpeng chips [4] Group 1: Big Data Solution - The newly launched big data solution integrates Kunpeng hardware, openEuler, Kunpeng DevKit, and Kunpeng BoostKit, allowing for a unified codebase and streamlined development across platforms [1] - Performance optimizations include operator acceleration, HBase secondary indexing, parameter tuning, and Ceph storage acceleration [1] Group 2: Technological Advancements - The company has established a full-link capability in big data, covering data collection, storage, governance, and application operations [2] - The edge computing platform and Cloudiip-Link gateway products significantly reduce business latency by processing data at the network edge [2] - The enterprise-level data governance platform focuses on data standardization, enabling clients to maximize data value [2] Group 3: AI and Cloud Computing - Oriental国信 has built an integrated ecosystem for large models, including a training and inference platform, addressing industry-specific challenges [3] - The BONCLOUD platform offers a comprehensive solution for enterprise IT services, catering to various cloud needs [3] - The AI computing center leverages data center resources to support high-demand scenarios such as generative AI and large model training [3] Group 4: Future Collaboration - The company aims to deepen its partnership with Huawei, focusing on the technical application iteration of Kunpeng 950 and 960 chips [4]

证券代码：300166 证券简称：东方国信 公告编号：2025-063 北京东方国信科技股份有限公司 2025 年第二次临时股东会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示：1．本次股东会未出现否决议案的情形； 2．本次股东会未出现变更以往股东会已通过的决议的情形。 一、会议召开情况 （一）现场会议召开时间：2025 年 9 月 26 日下午 14:30 （二）网络投票时间：2025 年 9 月 26 日。其中，通过深圳证券交易所交易 系统进行投票的时间为 2025 年 9 月 26 日 9:15-9:25、9:30-11:30 和 13:00-15:00； 通过深圳证券交易所互联网投票系统进行投票的具体时间为 2025 年 9 月 26 日 9:15 至 15:00 的任意时间。 （三）现场会议召开地点：北京市朝阳区创达三路 1 号院 1 号楼东方国信大 厦 7 层会议室 （四）会议召开方式：现场投票和网络投票相结合 （五）会议召集人：董事会 （六）会议主持人：董事长管连平先生 通过现场和网络投票的股东 426 人，代表股份 311, ...