Core Viewpoint - The company has issued 55 million shares of ordinary A-shares at a price of 13 RMB per share, raising a total of 715 million RMB, with a net amount of 699 million RMB after deducting issuance costs [1] Fundraising Details - The funds raised will be deposited in a dedicated account opened at Huaxia Bank Co., Ltd. Beijing Weigongcun Branch [1] - A four-party supervision agreement has been signed regarding the use of the raised funds, which includes terms for fund management, regular reconciliation, and handling of violations to ensure fund safety and compliance [1]

北京首都在线科技股份有限公司 关于增设募集资金专户并签署募集资金 四方监管协议的公告 证券代码：300846 证券简称：首都在线 公告编号：2025-070 2.监管协议主要条款 甲方：北京首都在线科技股份有限公司（以下简称"甲方一"） 北京首云智算科技有限公司（以下简称"甲方二"，"甲方一"与"甲 方二"合称为"甲方"） 乙方：华夏银行股份有限公司北京魏公村支行（以下简称"乙方"） 丙方：中信证券股份有限公司（保荐机构）（以下简称"丙方"） 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、募集资金基本情况 根据中国证监会《关于同意北京首都在线科技股份有限公司向特定对象发行 股票注册的批复》（证监许可〔2021〕2717 号），北京首都在线科技股份有限 公司（以下简称"公司"）向特定对象发行人民币普通股（A 股）55,000,000 股， 发行价格为人民币 13.00 元/股，募集资金总额为人民币 715,000,000.00 元，扣除 各项发行费用（不含增值税）人民币 15,858,791.27 元后，募集资金净额为人民 币 699,141,208.73 元 ...

"一体两翼，云网出海！ 随着人工智能技术的飞速发展，云计算行业正经历一场深刻的转型，从传统的通用计算迈向智能化、场景化的智算时代。在这场变革中，众多云服务商积 极拥抱机遇，构建面向未来的智能算力基础设施。近期，数据猿采访了北京首都在线科技股份有限公司（以下简称"首都在线"）董事长曲宁，深入探讨了 其在智算时代的战略布局、技术创新、市场洞察及未来展望。 当前，云计算行业正从以CPU为核心的通用计算，向以GPU为主导的智能化、场景化智算服务演进，这一趋势已不可逆转。传统CPU通用计算虽仍占据主 导地位，拥有长达15至20年的积累和庞大存量市场，尤其在游戏、电商和音视频等领域表现突出，但GPU所驱动的智算需求正以前所未有的速度增长。首 都在线判断，未来3-5年，中国市场的推理算力需求增速或达当前中国训练算力规模的50倍以上，其实也预示着推理端巨大的市场空间。这种爆发式的增 长，无疑将重塑云计算的未来格局，推动整个行业向更高阶的智能服务迈进。 作为一家深耕云计算领域多年的企业，首都在线很早就前瞻性地布局了智算赛道，并于2023年开始逐步夯实智算战略，开始建设"融合智算云"。首都在线 坚定推进"一体两翼"智算发展战略， ...

Group 1 - The company announced the completion of the first vesting period for its restricted stock incentive plan, resulting in the vesting of 1,446,066 shares, increasing the total share capital to 501,908,216 shares and the registered capital to 501,908,216 yuan [1] - The company held board and shareholder meetings to approve the changes in registered capital and amendments to the articles of association, which were subsequently registered with the relevant authorities [1] - The company has obtained a new business license reflecting the updated registered capital and other corporate information, including its name, legal representative, and business scope [1] Group 2 - The new business license indicates that the company is engaged in various technology and telecommunications services, including technical development, software services, and import-export activities [1]

关于完成工商变更登记并取得新营业执照的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、本次变更的基本情况 公司于 2025 年 5 月 13 日在巨潮资讯网披露了《关于 2023 年限制性股票激励计划 首次授予部分第一个归属期限制性股票第一批次归属结果暨股份上市公告》（公告编号： 2025-053），本次归属第二类限制性股票 1,446,066 股，归属完成后总股本为 501,908,216 股，注册资本由 500,462,150 元变更为 501,908,216 元。 二、本次变更的审批程序 公司于 2025 年 6 月 10 日召开第六届董事会第六次会议、第六届监事会第六次会 议，并于 2025 年 6 月 26 日召开 2025 年第二次临时股东大会，审议通过了《关于变更 注册资本并修订<公司章程>部分条款的议案》。根据相关法律、法规及规范性文件的规 定，公司拟变更公司注册资本、修订《公司章程》并办理相关工商变更登记事项（具体 内容详见公司在巨潮资讯网披露的相关公告）。 北京首都在线科技股份有限公司 证券代码：300846 证券简称：首都在线 公告 ...

Group 1 - The company announced the appointment of Wang Luyao as the securities affairs representative [1] - The board of directors approved the appointment, which will assist the board secretary in activities [1] - The term of the appointment is from the date of the board's approval until the end of the fifth board's term [1]

格隆汇7月31日丨首都在线(300846.SZ)在投资者互动平台表示，海南封关作为国家重大战略，将为文昌 航天超算数据中心带来重要发展机遇。公司将结合政策导向、市场需求及场景拓展，审慎决定数据中心 扩容与算力升级。海南封关后将形成"境内关外"监管模式，根据规划，未来将有二十余条国际海缆直通 海南，覆盖东南亚核心经济圈，构建"一带一路"数据经济跨境互联互通网络，夯实区域数据枢纽地位。 公司文昌航天超算中心位于海南自贸港重点园区，深度享受政策红利。海南依托国际海缆，目前已实现 与香港及东南亚地区的高效连接，相较于东南亚出海常用的新加坡节点，海南在成本控制与服务响应效 率上的性价比优势显著。 ...

Core Viewpoint - The company is strategically positioned to leverage the opportunities arising from the Hainan Free Trade Port, particularly in expanding its data center capabilities and enhancing computational power to meet increasing demand for cross-border data flow and computing resources [1] Group 1: Company Strategy - The company acknowledges the significant development opportunities presented by the Hainan Free Trade Port, particularly for the Wenchang Aerospace Supercomputing Data Center [1] - Future decisions regarding data center expansion and computational upgrades will be made cautiously, taking into account policy guidance, market demand, and scenario expansion [1] Group 2: Market Positioning - The establishment of a "domestic outside" regulatory model post-Hainan's customs closure will facilitate over twenty international submarine cables directly connecting to Hainan, covering key economic areas in Southeast Asia [1] - The company’s Wenchang Aerospace Supercomputing Center is located in a key park within the Hainan Free Trade Port, allowing it to benefit significantly from policy incentives [1] - Hainan has achieved efficient connectivity with Hong Kong and Southeast Asia through international submarine cables, offering notable cost control and service response efficiency advantages compared to the commonly used Singapore node for Southeast Asian outbound data [1]

Group 1 - Kuaishou concept stocks rose by 1.82%, ranking 9th in the concept sector, with 42 stocks increasing in value [1] - The top gainers in the Kuaishou concept include InSai Group, which surged by 20%, and other notable increases from Yidian Tianxia, Zhidema, and Shoudu Online, with respective rises of 6.38%, 6.02%, and 4.83% [1] - The top decliners in the sector were Lishang Guochao, ST Haofeng, and Haoxiangni, which fell by 5.95%, 0.89%, and 0.72% respectively [1] Group 2 - The Kuaishou concept sector saw a net inflow of 1.497 billion yuan, with 33 stocks receiving net inflows, and 5 stocks exceeding 100 million yuan in net inflows [2] - The leading stock in terms of net inflow was BlueFocus, with a net inflow of 243 million yuan, followed by InSai Group, Tom Cat, and Shoudu Online with net inflows of 211 million yuan, 202 million yuan, and 142 million yuan respectively [2][3] - The net inflow ratios for InSai Group, Sanwei Communication, and BlueFocus were 15.91%, 11.60%, and 10.58% respectively [3] Group 3 - The Kuaishou concept stocks with significant trading volumes included BlueFocus, InSai Group, Tom Cat, and Shoudu Online, with respective trading volumes of 243 million yuan, 211 million yuan, 201 million yuan, and 142 million yuan [3][4] - Notable performers in the Kuaishou concept also included Yidian Tianxia and Zhidema, with trading volumes of 93 million yuan and 51 million yuan respectively [4] - The overall market performance showed a mixed trend, with some stocks experiencing significant gains while others faced declines [5]

Investment Rating - The report maintains a "Recommendation" rating for the industry [5] Core Insights - The ongoing technological competition among major countries necessitates the localization of AI computing power in China. Although H20 has been approved for sale, long-term localization remains a priority. The development of the chip and underlying software ecosystem will be crucial for the domestic AI industry. The new round of global AI "arms race" has begun, with the release of significant models and products like ChatGPT Agent and Kimi K2 expected to significantly boost domestic computing power demand. The long-term development prospects for domestic computing power are optimistic [3][36]. Summary by Sections Market Review - During the week of July 14-18, the CSI 300 Index rose by 1.09%, the SME Index increased by 2.26%, and the ChiNext Index grew by 3.17%. The computer sector (CITIC) saw a 2.32% increase. The top five gainers in the sector were Xiling Information, Chunz中科技, Information Development, Dingjie Smart, and Tuoer Si. The top five decliners were Dazhi Hui, Jinzheng Shares, Jingbeifang, Xinyada, and Changliang Technology [1][44]. Industry News - The Ministry of Industry and Information Technology (MIIT) is promoting the synergy between industrial internet and artificial intelligence, accelerating the development of 6G technology [38]. OpenAI has released ChatGPT Agent, which can think independently and select tools to complete complex tasks [39]. The MIIT will also organize the "Artificial Intelligence + Software" initiative to accelerate the software intelligence process [40]. Company Dynamics - Capital Online's shareholder Zhao Yongzhi reduced his stake by 5,200,000 shares, accounting for 1.036% of the total share capital. Guanglian Da repurchased 8,732,100 shares, approximately 0.53% of its total share capital, with a total transaction amount of 121,956,165.8 yuan [2][42]. Investment Suggestions - The report suggests focusing on domestic AI computing power, particularly in the following areas: 1. Chip design: Key players include Cambrian and Haiguang Information 2. Advanced wafer manufacturing: Focus on leading companies like SMIC 3. Domestic AI computing liquid cooling: Companies like Highlan and Yingweike 4. Domestic AI servers: Notable companies include Inspur, Softcom, China Great Wall, Shenzhou Data, Huibo Yuntong, Tuo Wei Information, Zhongke Shuguang, ZTE, Fenghuo Communication, Unisplendour, Industrial Fulian, and Gaoxin Development [3][36].