| 转让底价 (万元) | 48391.9220 | | | | --- | --- | --- | --- | | 标的名称 标的企业 所在地区 | 深圳中微电科技有限公司32.4778%股权 广东省深圳市南山区 | 所属行业 | 计算机、通信和其他电子设备制 造业 | 作为中国电子信息产业集团旗下企业，中微电堪称GPU研发领域的"国家队"。公司自2020年专注GPU研发以来，已取得 阶段性成果：2022年首款高性能桌面GPU"南风一号"成功点亮并实现量产；2024年"南风二号"核心IP研发完成。然而技 术突破的背后是持续的经营亏损，2023年公司营收5521万元却亏损8905万元，2024年前十月亏损3854万元。 此次股权转让方中国中电国际信息服务有限公司（简称：中电信息）为国务院国资委监管企业，其"清仓式"转让行为已 获股东批准。分析人士指出，这一动作折射出GPU研发面临的现实困境：一方面需要持续巨额投入，另一方面市场竞争 激烈，国际巨头占据主导地位。在当前半导体行业深度调整期，国资股东的战略调整或为优化资源配置之举。 值得关注的是，中微电股权结构显示，除国资股东外，公司还吸引了包括红杉资本、力合创投 ...

Core Viewpoint - The article discusses the performance of domestic GPUs, highlighting the competitive landscape and the impact of sanctions on production capabilities. It emphasizes that while the BR100 from Birun is the most powerful, it cannot be mass-produced due to sanctions, leaving Huawei's 910C as the strongest available option [1][2]. Performance Comparison - The performance ranking of GPUs indicates that the Huawei 910C leads, followed by the Haiguang BW100, with the latter achieving approximately 87% of its potential performance. The Cambrian 590's performance is uncertain, potentially reaching 80% [2]. - The Haiguang BW100 has a deep computing capability of over 400T, which is about 50% of the H800's performance, while the 910C reaches approximately 60% of the H800's performance [1][2]. Memory and Bandwidth - Most domestic GPUs utilize HBM2e memory due to sanctions preventing the use of HBM3e. Sufficient memory is crucial for initiating inference tasks, as insufficient memory can hinder model startup [3]. - Huawei leads significantly in memory bandwidth, which is a critical factor for performance [4]. Pricing Insights - Current market prices for GPUs are as follows: Haiguang BW100 at approximately 100,000 yuan, Huawei 910B at around 70,000 yuan, and 910C at about 180,000 yuan. The Cambrian 590 has seen a price drop from 80,000-85,000 yuan to between 60,000-70,000 yuan [2]. Technical Specifications - A table summarizes key specifications of various GPUs, including memory type, bandwidth, capacity, and arithmetic intensity. For instance, the Huawei 910C features HBM2e with a bandwidth of 3.2 TB/s and a memory capacity of 64 GB [5].