4. 微创医疗（00853.HK） 盘中涨超8%。公司主要股东于7月25日订立买卖协议，有条件同意出售合 计2.91亿股股份，买方包括上实资本旗下基金、We'Tron Capital Limited及公司管理层投资平台。 5. 中烟香港(06055.HK) 盘中涨超5%。消息面上，7月25日，国家烟草专卖局发布了《境内免税市场烟 草制品管理办法（征求意见稿）》。中烟香港公告，据公司初步了解，具备烟草进出口国营贸易资格 的唯一企业为中国烟草国际。 6. 升华兰德（08106） 复牌后股价一度飙升逾200%。此前，芯云智联以每股0.079港元收购浙江升华 所持约38.16%内资股，升洋与君然科技亦达成H股转让协议。 7. 九方智投控股(09636) 再涨超10%。九方智投控股近日发布盈喜，预期集团上半年有望实现股东应 占净利润人民币8.3亿至8.7亿元人民币，较去年同期的净亏损1.74亿元实现扭亏为盈。 8. 连连数字（02598） 盘中涨超7%。光大证券发布研报称，在人民币跨境清算、多币种结算等业务层 级中，第三方支付机构已深度嵌入支付全链路服务生态，发挥着重要作用。 点击蓝字，关注我们 今日上午港股 1. 新 ...

作者：行情君 8月20日，万国数据将披露2025财年中报（数据来源于纳斯达克官网，预计披露日期为美国当地时间， 实际披露日期以公司公告为准）。 资料显示，万国数据控股有限公司(纳斯达克股票代码:GDS;港交所股票代码:9698)是中国及东南亚地区 领先的高性能数据中心运营商和服务商。公司的数据中心分布于对高性能数据中心需求广泛的中国核心 经济枢纽地区。为了满足客户更广泛的需求,公司还根据客户的选择在非一线城市地区建设和运营数据 中心。公司的数据中心规模大,电力供应充沛、密度高且高效,所有关键系统均具备多重冗余。公司中立 于运营商及云服务提供商,客户可自由选择与主要电信运营商连接,以及接入托管于公司数据中心的多家 云服务提供商。万国数据可为客户提供托管和管理服务,包括与领先的公有云进行直接私有连接、独特 创新的混合云管理服务平台,以及在需要时转售公有云服务。公司拥有23年安全可靠的数据中心托管及 管理服务经验,成功满足国内大型客户对于外包数据中心服务的高标准要求,目前所服务的客户主要包括 超大规模云服务供应商、大型互联网公司、金融机构、电信与IT服务提供商,以及国内大型企业和跨国 公司。 7月25日，万国数据( ...

Core Insights - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of July 25, 2025, highlighting their respective valuations in billions of dollars [1]. Group 1: Market Capitalization Rankings - The top three companies by market capitalization are: 1. Alibaba: $1,000.00 billion 2. Tencent: $800.00 billion 3. Baidu: $600.00 billion [3] - Other notable companies in the top 10 include: - JD.com: $482.47 billion - SMIC (Semiconductor Manufacturing International Corporation): $519.90 billion - Tencent Music: $328.83 billion [3][4] Group 2: Additional Rankings - Companies ranked from 11 to 20 include: - Li Auto: $316.74 billion - Xpeng Motors: $182.36 billion - NIO: $109.38 billion [4][5] - The rankings continue with companies such as: - New Oriental: $74.44 billion - Kingsoft: $61.55 billion - Perfect World: $38.92 billion [5]

Group 1 - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of July 24, 2025 [1] - The highest-ranked company is Alibaba, with a market capitalization of 1,000 billion [3] - Other notable companies in the top 10 include Tencent with 600 billion and Baidu with 320 billion [3][4] Group 2 - The rankings show significant market values, with companies like JD.com at 489.1 billion and Kuaishou at 431.56 billion [3] - The list includes various sectors such as e-commerce, automotive, and software, indicating a diverse technology landscape [4][5] - Companies like Xpeng Motors and NIO are also featured, with market caps of 179.5 billion and 111.42 billion respectively [3][4]

智通财经7月23日电，纳斯达克中国金龙指数现涨超1%，其中乐信涨超6%，万国数据、爱奇艺涨超 4%，蔚来汽车涨超2%。 ...

行业深度研究 | 通信 IDC 需求测算逻辑、估值探讨与标的梳理 IDC 行业报告（二） 引言：上篇报告中，我们讨论了 IDC 是一门什么样的生意、AIDC 与 IDC 的 差异、如何理解 IDC 需求、如何把握供给端发展演变，以及 IDC 将何去何 从。本篇报告是我们 IDC 行业报告的第二篇，聚焦市场关注点，重点讨论量 化视角下的 IDC 需求和 IDC 估值两个问题，并梳理相关标的。 如何多视角测算 IDC 需求？我们提供四种 IDC 需求测算逻辑：1）资本开支 视角：从 BBAT 资本开支计划推算，内含两个测算逻辑思路，资本开支/单台 服务器价格或单 W 投资金额，再推导至 AI 服务器需求量及其对应的 IDC 能 耗。2）应用的 Token 调用量视角：从 token 需求到 FLOPS 需求到 GW 需 求。3）IDC 厂商收入视角：预测 IDC 主要上市公司未来 IDC 收入，结合其 市场份额，反推 IDC 市场规模。4）服务器出货量视角：跟踪 AI 服务器季度 出货量，从而推算 IDC 上架需求。四种思路各有优劣，其共通之处在于把握 IDC 核心设备 AI 服务器，包括其价格、功率、性能指标。 ...

Group 1 - The top 50 Chinese technology and internet companies by market capitalization as of July 21, 2025, are listed, with TSMC leading at $124.684 billion [3][4]. - Tencent Holdings ranks second with a market cap of $60.3704 billion, followed by Alibaba at $28.679 billion [3][4]. - Xiaomi Group and Pinduoduo hold the fourth and fifth positions, with market caps of $18.9457 billion and $15.4741 billion, respectively [3][4]. Group 2 - Meituan and NetEase are ranked sixth and seventh, with market caps of $10.3371 billion and $8.6191 billion [4]. - JD.com, SMIC, and Kuaishou follow, with market caps of $4.8896 billion, $4.8429 billion, and $3.948 billion, respectively [4][5]. - Li Auto and Tencent Music are also in the top 15, with market caps of $3.404 billion and $3.3193 billion [5]. Group 3 - Baidu, Beike, and Tonghuashun are ranked 13th, 14th, and 15th, with market caps of $3.0187 billion, $2.2374 billion, and $2.0827 billion, respectively [5][6]. - The list includes various companies from different sectors, indicating a diverse representation within the technology and internet industry [6]. - The market capitalization figures are calculated based on the current exchange rate of USD to HKD [6].

Group 1 - The Southern GDS Data Center REIT successfully completed its public offering, raising a total of 2.4 billion RMB, reflecting strong market demand with a public investor subscription multiple of 456 times and a private investor subscription multiple of 166 times [1][2] - The underlying asset of the REIT is the Kunshan Guojin Data Cloud Computing Data Center project, which has a total cabinet scale of 4,192 and an electricity capacity of 29,044 kW, with a projected PUE of 1.24 for 2024 [1] - The project operates on a wholesale business model, providing data center space and hosting services, achieving an average signing rate of 100% over the past three years, indicating strong operational performance [1] Group 2 - The successful issuance of the Southern GDS Data Center REIT is a milestone, marking the first public REIT project in China and creating a new model for private capital participation in public REITs [2] - The CEO of GDS highlighted that the successful issuance signifies a major breakthrough in capital strategy innovation and serves as a model for asset securitization in the digital infrastructure industry [2] - GDS plans to continue deepening capital innovation through the REIT platform, integrating quality assets to promote high-quality development in the digital infrastructure sector, supporting the growth of China's digital economy [2]

| 8 | | 东方财富 | 515.59 | | | --- | --- | --- | --- | --- | | 9 | | 中芯国际 | 466.49 | | | 10 | | 京东 | 456.09 | | | 11 | 8 | 快手-W | 376.96 | | | 12 | | 腾讯音乐 | 332.09 | | | 13 | | 理想汽车 | 314.71 | | | 14 | C | 贝壳 | 222.43 | | | 15 | 8 | 同花顺 | 205.28 | | | 16 | × | 小鹏汽车 | 170.92 | | | 17 | N | 科大讯飞 | 151.19 | | | 18 | | 中通快递 | 145.32 | | | 19 | 的LA | 時哪時嗎 | 102.09 | | | 20 | | 宝信软件 | 97.62 | 1 t | | 21 | | 劇来 | 93.08 | 1 | | 22 | | 恒生电子 | 87.2 | 1 t | | 23 | | 新东方 | 81.96 | 1 1 | | 24 | | 万国数据 | 78.67 | 1 t | 金十图示： ...

Accessible version China AI Frontier (H/A) Positive read-through from potential H20 shipment resumption, new GPU for China Industry Overview Potential resumption of H20 delivery; positive implications According to Nvidia, CEO Jensen Huang provided an update to customers during his visit to Beijing, confirming that Nvidia is filing applications to resume H20 GPU shipments to China, with license expected to be granted by U.S. government. Mr. Huang also announced a new compliant RTX PRO GPU tailored for smart ...