Dosilicon(SH:688110) Zheng Quan Shi Bao Wang·2025-11-27 10:41Core Viewpoint - Dongxin Co., Ltd. announced unusual stock trading fluctuations and addressed market rumors regarding a large GPU chip order with Lishuan Technology (Shanghai) Co., Ltd. [1] Group 1: Company Developments - Lishuan Technology has signed a strategic cooperation framework agreement with a leading domestic cloud computing service provider, focusing on collaboration in areas such as domestic cloud desktop systems, domestic AIPC, cloud rendering, and digital twin solutions [1] - As of now, only the framework agreement has been signed, and no specific orders have been placed, resulting in no revenue generation to date [1] Group 2: Product and Market Context - The chip products from Lishuan Technology are primarily used in personal computers, professional design, AIPC, cloud gaming, cloud rendering, and digital twin scenarios, rather than in large model computing clusters [1] - The sales of these products require product certification, customer onboarding, and mass production supply, all of which carry uncertainties [1] Group 3: Investment and Risk Factors - The company’s investment in Lishuan Technology is accounted for using the equity method and is not included in the consolidated financial statements [1] - There are several risks associated with Lishuan Technology, including industrialization progress risk, market competition risk, product singularity risk, performance risk, ongoing operation risk, and funding flow risk [1]