超聚变IPO进展：新一轮投资人变更

Core Viewpoint - The article discusses the recent changes in shareholder structure of Chaoju Fusion, a leading provider of computing infrastructure and services, highlighting new investments and strategic partnerships aimed at enhancing its market position and preparing for an eventual public listing [2][4]. Shareholder Changes - On November 7, 2025, Chaoju Fusion completed a new round of shareholder changes, with several new investors including various advanced computing investment funds from Zhengzhou Airport and other institutions [2][4]. - The new shareholders include Zhengzhou Airport Advanced Computing Phase I, II, and III Investment Funds, among others, with several existing shareholders also increasing their investments [2][3]. Financial Performance - Chaoju Fusion is projected to achieve a revenue of 43.5 billion CNY in 2024, ranking second in the Chinese server market and sixth globally [5]. - The company has successfully integrated core assets and R&D teams from Huawei's server division, maintaining a strong product lineup that includes general servers, AI servers, and critical business servers [5]. Strategic Investments - The company has attracted multiple rounds of strategic investments from state-owned enterprises and funds, including China Mobile and China Telecom, which have significantly bolstered its financial backing [6][8]. - The strategic investment from the National Adjustment Fund, managed by China Chengtong Holdings Group, is aimed at enhancing Chaoju Fusion's capabilities in the semiconductor sector [4]. Market Position and Future Plans - Chaoju Fusion is focusing on developing a dual-ecosystem approach compatible with both Eastern and Western computing paradigms, aiming to provide comprehensive computing solutions [5]. - The company is positioned as a key player in the "East Data West Calculation" initiative, contributing to the establishment of a complete industrial chain in advanced computing and integrated circuits in Zhengzhou [8].