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Group 1 - The company plans to raise up to 1 billion yuan through a private placement to fund the construction of a domestic intelligent computing power center and supplement working capital [2] - The total investment for the intelligent computing power center project is 746 million yuan, with 700 million yuan expected to be funded from the raised capital [3] - The company aims to build a fully domestic computing power ecosystem using leading domestic AI chips to enhance supply chain security and data sovereignty [2][3] Group 2 - Since 2020, the proportion of intelligent computing power in China's computing structure has been increasing, with an average annual growth rate of 76.3%, becoming the main driver of computing scale growth [3] - By 2025, the intelligent computing power market in China is expected to reach 1590 EFLOPS, surpassing IDC's forecast of 1037.3 EFLOPS, further enhancing its position in the global AI industry [3] - The current domestic intelligent computing center market is primarily dominated by the NVIDIA ecosystem, with a relative scarcity of fully domestic commercial computing power supply [3] Group 3 - The company's computing power business model involves purchasing server GPU modules and related equipment, assembling and testing servers, and providing ongoing operational services to clients [4] - As of mid-2025, the company has signed over 2.2 billion yuan in cumulative orders, primarily serving telecommunications operators and cloud service providers [4] - Despite securing numerous orders, the company has been facing significant losses, with an expected net loss of 130 million to 190 million yuan for the fiscal year 2025, representing an increase in losses compared to 116 million yuan in 2024 [4][6] Group 4 - The company attributes its declining performance to the deepening of its strategic focus on computing power services and plans to adjust the estimated useful life of its equipment, which may significantly impact net profit [6] - As of February 11, the company's stock closed at 32.06 yuan per share, with a market capitalization of 4.473 billion yuan [6]