行业点评报告：世纪互联上调业绩指引，看好AIDC产业链投资机会

Investment Rating - The industry investment rating is "Overweight" [1][10] Core Viewpoints - The report maintains a positive outlook on the domestic AIDC (Artificial Intelligence Data Center) industry chain, driven by the acceleration of AI applications in various sectors such as education, gaming, and video conferencing, which is expected to increase demand for AI computing power [5][6] - Century Internet has raised its revenue and adjusted EBITDA guidance for the fiscal year 2025, indicating a stronger than expected performance due to faster-than-anticipated migration of wholesale IDC customers and ongoing operational efficiency improvements [4] Summary by Sections AIDC Industry Development - The report highlights the potential for accelerated development in the domestic AIDC industry chain, with specific recommendations for investment in AIDC facilities, computing power leasing, and IT infrastructure [6] - Recommended stocks include Yingweike, New Idea Network Group, and Baoxin Software for AIDC facility construction, while companies like Ziguang Co. and ZTE are recommended for IT side investments [6] AI Computing Power Demand - The report emphasizes that the demand for AI computing power will continue to grow, particularly in low-latency applications such as online gaming and video calls, which are expected to drive resource demand in major cities [5][6] Performance Forecasts - Century Internet's revised guidance indicates a projected revenue increase from 9.1-9.3 billion to 9.15-9.35 billion, reflecting a year-on-year growth of 11-13% [4] - Adjusted EBITDA is also raised from 2.7-2.76 billion to 2.76-2.82 billion, with a year-on-year growth forecast of 14-16% [4]