“海光+中科曙光”4000亿元算力航母如期启航，董事席位花落谁家

Core Viewpoint - The merger between Haiguang Information and Zhongke Shuguang aims to create a leading entity in the domestic computing power sector, with a projected total market value exceeding 400 billion yuan, positioning it as a "carrier-level" enterprise in the industry [1][10]. Group 1: Merger Details - Haiguang Information and Zhongke Shuguang announced a strategic merger after a 10-day trading suspension, with both companies resuming trading on June 10 [1]. - The merger involves a share exchange where Haiguang Information will issue approximately 808 million new shares at a swap ratio of 1:0.5525 [7]. - The cash option for dissenting shareholders is set between 78% to 95% of the swap price, effectively guiding shareholders towards choosing shares over cash [6][5]. Group 2: Company Profiles - Haiguang Information specializes in high-end processor design for servers and storage devices, while Zhongke Shuguang is a leader in high-end computing, storage, and data center products [2]. - Zhongke Shuguang holds a 27.96% stake in Haiguang Information, making it the largest shareholder prior to the merger [2]. Group 3: Shareholder Structure Post-Merger - Post-merger, the major shareholders of Haiguang Information will include Haifu Tianding Partnership (10.12%), Chengdu State-owned Assets (15.91% combined), and employee stock ownership plans [7][8]. - The new shareholder structure will consist of a diverse mix of stakeholders, including "Chinese Academy of Sciences" entities, Chengdu state-owned assets, and market investors, which is expected to enhance both technological and capital market synergies [9][10]. Group 4: Strategic Implications - The merger is anticipated to enhance technological collaboration and strengthen the competitive position within the information industry, potentially reshaping the market landscape [2][10]. - The combined entity will cover the entire industry chain from chip design to cloud computing services, increasing its competitive capabilities [11].