PPIO冲刺港交所：国内最大的独立边缘云计算服务商，营收复合年增长约40%

Core Viewpoint - The emergence of generative AI has led to a significant demand for computing power, prompting PPLabs Technology Limited (PPIO) to expand its services in AI cloud computing and edge cloud computing [1][6]. Company Overview - PPIO was founded in 2018 by former PPTV founder Yao Xin, initially focusing on edge cloud computing services by building a computing power scheduling platform to optimize resource deployment [1]. - As of June 20, 2025, PPIO has submitted its prospectus for listing on the Hong Kong Stock Exchange, with ICBC International and Shenwan Hongyuan Hong Kong serving as joint sponsors [1]. Business Expansion - In 2023, PPIO strategically expanded into AI cloud computing services in response to the rapid development of AI large model technology, which has increased the demand for GPU computing power and AI inference [1][4]. - By 2024, PPIO plans to further extend its business into the global AI cloud market [1]. Network and Developer Base - As of December 31, 2024, PPIO's computing power network covers over 1,200 counties and cities globally, with more than 4,000 computing nodes [2]. - PPIO has over 120,000 registered developers for its AI cloud computing services worldwide [2][3]. Market Position - PPIO operates the largest computing power network in China based on the number of computing nodes and ranks first among independent edge cloud computing service providers in China based on 2024 revenue [4]. - The company provides services to many of China's top ten internet companies and various tech firms, including unicorn startups, across multiple application scenarios [4]. Financial Performance - PPIO's revenue from 2022 to 2024 was 286 million, 358 million, and 558 million CNY, respectively, reflecting a compound annual growth rate (CAGR) of 39.7% [5]. Investment and Use of Proceeds - PPIO has received investments from notable institutions such as Millennium, IMO Ventures, and others [6]. - The net proceeds from the IPO will primarily be used to enhance technology capabilities in distributed cloud computing services, expand business scope, and support overseas expansion, particularly in mature and emerging markets [6]. Market Outlook - The global edge cloud computing services market is projected to reach 185.1 billion CNY in 2024, with the Chinese market expected to grow from 13.2 billion CNY in 2024 to nearly 37 billion CNY by 2029 [6]. - The global AI cloud computing services market is anticipated to grow from 31.5 billion CNY in 2024 to nearly 427.7 billion CNY by 2029, with a CAGR of 68.5% [6].