China Bester (SH:603220) Jing Ji Guan Cha Wang·2026-02-11 05:49Group 1: Core Insights - Zhongbei Communication (603220) recently completed a targeted placement, raising a total of 1.92 billion yuan, which will be primarily invested in intelligent computing centers and 5G network construction [1][2] - The company plans to expand its computing power capacity by 20,000 P to meet the demand for high-performance GPU clusters, with over 18,000 P already operational by the end of 2025 [3] - The company is also focusing on the development of an AI industrial park, aiming to incubate over 50 enterprises by 2028 [3] Group 2: Business Development - The funds raised will be allocated to the intelligent computing center project (11.02 billion yuan), 5G communication network construction (5.20 billion yuan), and repayment of bank loans [2] - Recent discussions with experts on semantic communication, 6G technology, and satellite internet indicate a commitment to advancing technological industrialization [4] - The company is accelerating its overseas intelligent computing business expansion, particularly in the Middle East, Southeast Asia, and Africa, through a capital increase of 360 million yuan in its subsidiary [4] Group 3: Financial Performance - As of the end of September 2025, the company's debt ratio was 72.67%, and the completion of the targeted placement is expected to optimize its asset-liability structure [5] - The financing balance as of February 2, 2026, was 754 million yuan, accounting for 6.76% of the circulating market value, indicating a high level of financing activity [6] - The company's revenue for Q3 2025 was 2.317 billion yuan, a year-on-year increase of 5.05%, while the net profit attributable to shareholders was 85.0419 million yuan, a year-on-year decrease of 41.14% due to reduced 5G business income and increased financial expenses [6]