千亿算力重组，回应来了

Core Viewpoint - The core focus of the news is the planned share swap merger between Haiguang Information and Zhongke Shuguang, which aims to enhance resource integration and strengthen the domestic computing industry in China [1][2][3]. Group 1: Merger Details - Haiguang Information plans to issue A-shares to all A-share shareholders of Zhongke Shuguang to facilitate the share swap merger, which is expected to constitute a significant asset restructuring [1][2]. - The merger is seen as a strategic move to optimize the industrial layout from chips to software and systems, enhancing the overall competitiveness of both companies in the information industry [2][3]. Group 2: Financial Performance - For Q1 2025, Haiguang Information reported a revenue of 2.40 billion yuan, a year-on-year increase of 50.76%, while Zhongke Shuguang's revenue was 2.59 billion yuan, up 4.34% year-on-year [3][4][7]. - Haiguang Information's net profit attributable to shareholders was approximately 505.89 million yuan, reflecting a 75.33% increase compared to the previous year [4][6]. - Zhongke Shuguang's net profit attributable to shareholders was around 186.47 million yuan, showing a 30.79% increase year-on-year [7][9]. Group 3: Strategic Implications - The merger is positioned as a response to global industry trends and national strategic needs, aiming to enhance collaboration and efficiency between the two companies [3][10]. - The integration is expected to strengthen the domestic AI computing sector by pooling resources for high-end chip and solution development, thereby improving customer satisfaction with integrated technology solutions [2][10]. - Zhongke Shuguang's capabilities in system integration are anticipated to bolster Haiguang Information's technological and application synergy in high-end chips and computing systems [10].