继续重视国产算力的“后劲”

Investment Rating - The report maintains a positive investment rating for the domestic computing power sector, emphasizing the potential of supernodes and aerospace computing as key growth areas [5]. Core Insights - Supernodes are expected to become a mainstream technology under cluster expansion, significantly enhancing training and inference capabilities, thus driving the development of the domestic computing power ecosystem [3][41]. - Aerospace computing is gaining attention from major tech companies and is anticipated to be a crucial direction for domestic computing power development [3][41]. - The report highlights key investment opportunities in domestic AI computing, including chip design, advanced wafer manufacturing, liquid cooling solutions, and AI servers [3][41]. Summary by Sections Market Review - During the week of November 3-7, the CSI 300 index rose by 0.82%, while the small and medium-sized board index fell by 0.59%, and the ChiNext index increased by 0.65%. The computer sector (CITIC) saw a decline of 2.08% [1][49]. Industry News - Major developments include the launch of the world's first single-cabinet 640-card supernode by Zhongke Shuguang, which integrates advanced cooling and power supply technologies [3][45]. - The report notes that two leading domestic computing power companies, Moer Thread and Muxi Co., are set to go public, which could catalyze further growth in the sector [3][29]. Company Dynamics - Fangzhi Technology plans to reduce its shareholding by up to 3% due to personal financial needs, without affecting the company's control [2]. - Suochen Technology is acquiring a 60% stake in Beijing Likong Yuantong Technology for approximately 192 million yuan, indicating active consolidation in the sector [2][47]. Investment Recommendations - The report suggests focusing on key players in domestic AI computing, including chip design leaders like Cambrian and Haiguang Information, as well as advanced wafer manufacturers like SMIC [3][41]. - In aerospace computing, it recommends monitoring core companies such as Putian Technology and Shunhao Co., along with satellite internet leaders [3][41].