Core Viewpoint - The stock of Lian Technology has shown a slight increase recently, but the overall performance this year has been negative, with significant declines over various time frames [1][2]. Financial Performance - As of October 10, Lian Technology reported a revenue of 3.76 billion yuan for the first half of 2025, marking a year-on-year growth of 23.41%. However, the net profit attributable to shareholders was -596.98 million yuan, a decrease of 258.48% compared to the previous year [2]. - The company has cumulatively distributed 72.70 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Stock Market Activity - On October 21, Lian Technology's stock price rose by 2.08% to 10.80 yuan per share, with a trading volume of 85.32 million yuan and a turnover rate of 2.17%, resulting in a total market capitalization of 5.02 billion yuan [1]. - The stock has experienced a decline of 3.05% year-to-date, with a 2.96% drop over the last five trading days, a 2.53% drop over the last 20 days, and a 10.37% drop over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on February 10, where it recorded a net purchase of 116 million yuan [1]. Shareholder Information - As of October 10, the number of shareholders for Lian Technology was 45,200, an increase of 1.81% from the previous period, with an average of 8,184 circulating shares per person, a decrease of 1.78% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the seventh largest, holding 2.07 million shares as a new shareholder [3]. Business Overview - Lian Technology, established on January 8, 1996, and listed on January 26, 2017, operates in digital city system services, IDC data centers, cloud computing services, telecom value-added services, and communication network technology services [2]. - The company's revenue composition includes 46.47% from communication network services, 29.83% from digital city services, 23.39% from data center and cloud services, and 0.31% from other services [2]. - Lian Technology is categorized under the communication services sector, with involvement in electronic license plates, SenseTime technology, 5G, IDC concepts, and network security [2].

Core Insights - The company, Lian Technology, is focusing on building a national integrated computing power network by leveraging its AI computing power parks in the Southwest region and the Nansha computing center in Guangzhou [1] Group 1 - The company is constructing an innovative application ecosystem centered around "computing power + algorithms + applications" [1] - The network layout is designed to align with the eight major computing power hub nodes established by the state [1] - The company aims to achieve efficient allocation of computing resources through regional systems and resource integration [1] Group 2 - Lian Technology is developing a national scheduling center for cloud data to support the construction of a unified computing power network across the country [1]

Core Viewpoint - The company emphasizes mergers and acquisitions as a key strategy for accelerating growth and resource integration, focusing on high-quality targets that align with its core strategies in "computing power infrastructure" and "AI application ecosystem" [2] Group 1 - The company is actively exploring potential acquisition targets that complement its business and technology [2] - The company has previously extended its industry chain through acquisition practices [2] - The company commits to adhering to information disclosure regulations and will promptly disclose any clear acquisition plans that meet disclosure standards [2]

Core Viewpoint - The company is focusing on building a comprehensive AI computing power ecosystem by leveraging its strengths in the IDC sector and expanding its data center operations across key regions in China [1] Group 1: Company Strategy - The company is developing an AI computing power park in Southwest China and a computing center in Nansha, Guangzhou, as part of its network layout around the national eight major computing power hubs [1] - The company aims to create an innovative application ecosystem that integrates computing power, algorithms, and applications, facilitating efficient allocation of computing resources [1] Group 2: Future Plans - The company plans to expand its data center business in cities such as Beijing-Tianjin-Hebei, Hangzhou Bay, Greater Bay Area, Chengdu-Chongqing, Wuhan, and Xinjiang [1] - The company is closely monitoring the development of the Xinjiang International Integrated Computing Power Center project and possesses the technical and service capabilities to support such projects [1] - Currently, the company has not signed a formal cooperation agreement for the first phase of the project but intends to actively pursue related cooperation opportunities [1]

证券日报网讯立昂技术（300603）10月13日在互动平台回答投资者提问时表示，公司将结合自身财务状 况、业务发展规划等因素，对股份回购事宜进行审慎评估。公司后续若有相关计划，将严格按照规则履 行审议程序及信息披露义务。 ...

Core Viewpoint - The company, Lian Technology, is leveraging its "computing power + algorithms + applications" ecosystem to provide support for AI large model training and inference through its newly established high-performance computing clusters [1] Group 1: Company Operations - The company has established new computing power bases in locations such as Jianyang to enhance its service offerings [1] - It supplies hardware facilities including servers and storage devices, which are essential for AI applications [1] - The company provides technical operation services that include real-time traffic monitoring of data centers, cross-regional computing power scheduling, and specialized maintenance for GPU servers [1] Group 2: Clientele and Market Focus - The company's main clients are distributed across various sectors including government, state-owned enterprises, municipal transportation units, research institutions, and industries such as internet, technology, finance, and artificial intelligence [1] - Specific details regarding client cooperation are kept confidential due to the company's obligation to maintain secrecy [1] - The company commits to timely information disclosure in accordance with relevant laws and regulations [1]

Core Viewpoint - The company has not yet launched AI digital human products but possesses the capability to support key requirements such as rendering, modeling, natural language recognition, and voice synthesis for digital humans [1] Group 1 - The company stated that there are currently no substantial applications in the AI digital human field on a large scale [1] - The company will continue to monitor industry trends and will disclose any business developments in accordance with regulations [1]

Core Viewpoint - The company, Lianang Technology, primarily serves clients in government, central enterprises, municipal transportation units, research institutions, and industries such as internet, technology, finance, and artificial intelligence, while maintaining confidentiality regarding specific client cooperation details [1]. Group 1 - The company has a diverse client base that includes government and central enterprises [1] - The company emphasizes its commitment to confidentiality regarding client cooperation [1] - The company adheres to legal and regulatory requirements for timely information disclosure [1]

Core Viewpoint - The company is actively monitoring the development of the Xinjiang International Integrated Computing Power Center project and has the technical and service capabilities to participate in such projects, although no formal cooperation agreement has been signed yet [1]. Group 1: Company Involvement - The company has expressed interest in the Xinjiang International Integrated Computing Power Center project, which involves the construction of a 2000P computing power cluster [1]. - The company is leveraging its strengths in the IDC sector to expand data center operations in key regions, including Beijing-Tianjin-Hebei, Hangzhou Bay, Greater Bay Area, Chengdu-Chongqing, Wuhan, and Xinjiang [1]. - The company is focused on building a national scheduling center for computing power, contributing to the integrated computing power network construction across the country [1]. Group 2: Project Details - The project aims to support satellite remote sensing data processing and cross-border logistics intelligent scheduling [1]. - The company is developing a "computing power + algorithm + application" innovative application ecosystem, which emphasizes efficient allocation of computing resources through regional systems and resource integration [1]. - The company will actively seize cooperation opportunities related to the project as they arise and will fulfill information disclosure obligations in case of substantial progress [1].

Core Viewpoint - The company has not yet launched AI digital human products but possesses the capabilities to support key requirements such as rendering, modeling, natural language recognition, and voice synthesis for digital humans [1] Summary by Relevant Sections - **Current Status of AI Digital Human Products** - The company has not directly introduced AI digital human products in its digital segment [1] - There are currently no substantial applications in the AI digital human field on a large scale [1] - **Future Plans and Industry Monitoring** - The company will continue to monitor industry trends and will disclose any business developments in accordance with regulations [1]