9月21日，以"数聚青海·链通丝路"为主题的2025首届青海数据要素生态大会在西宁召开。这场聚焦数字 经济核心动能的行业盛会，会聚了来自全国各地的行业专家、学界精英与领军企业代表，众人齐聚一 堂，围绕数据要素的价值释放、市场构建与发展趋势展开深度研讨，为青海数字经济高质量发展凝聚智 慧共识。 "数据作为数字经济时代的基础性、战略性资源，其重要性不言而喻。"张恒山表示，在数字技术加速渗 透的今天，加快培育数据要素市场，促进数据高效流通与充分利用，已然成为推动经济高质量发展的关 键之举，更是区域抢占发展先机的核心抓手。 同时，张恒山表示，城西区将始终坚持以市场主体需求为导向，持续优化营商环境，与企业保持常态化 沟通，切实解决企业面临的实际难题，让企业能够安心经营、放心投资、舒心发展。 "数聚青海，需要汇聚各方力量，如同百川汇海；链通丝路，更需要携手同行，共同努力。"在发言尾 声，张恒山向与会企业家发出诚挚邀请。他表示，城西区将以最大的诚意、最优的服务、最好的环境， 欢迎各位企业家走进城西区，在数据市场化配置、场景开发应用、人才培养等多个领域开展深度合作， 携手打造数据要素市场化配置的 "西区样板"，为全省数字经济 ...

Core Insights - The first Qinghai Data Element Ecological Conference opened in Xining, focusing on the theme "Data Gathering in Qinghai, Linking the Silk Road" [1] - Experts and industry representatives discussed the market-oriented reform of data elements, development opportunities, and the integration of data into Qinghai's unique industries [1] Group 1: Data Infrastructure Development - Qinghai has established 189,000 standard racks, with a utilization rate exceeding 95%, and a computing power scale of over 17,000 PFLOPS [1] - The province is forming a comprehensive computing power supply system that includes general computing, intelligent computing, and supercomputing [1] - Strategic partnerships have been formed with seven leading internet companies, including Baidu and Alibaba, to enhance the local data infrastructure [1] Group 2: Policy and Economic Integration - The Qinghai Data Element Circulation Service Innovation Center was inaugurated, marking an upgrade in the provincial data element coordination and transaction platform [2] - The region aims to leverage its energy advantages to promote the integration of data with industries such as salt lake chemicals, new energy, ecological tourism, and specialty agriculture [2] - The "Yak Loan" financial cooperation project was signed to enhance financial services in the region, alongside the release of a plan for a trustworthy data space [2]

Core Viewpoint - *ST Yushun is undergoing a significant asset acquisition of 3.35 billion yuan to purchase 100% equity of Zhong'en Cloud Data Center assets, while simultaneously making a strategic investment of 300 million yuan in Bingji Technology, an AI computing service provider, raising questions about potential competition and future integration of assets [1][7]. Group 1: Investment and Acquisition Details - *ST Yushun plans to pay 3.35 billion yuan in cash to acquire Zhong'en Cloud Data Center assets, which will expand its business into the data center sector [7]. - The acquisition is part of a broader strategy to reverse the company's declining performance, as it has reported losses for five consecutive years [9]. - The revenue projections for the acquired companies are significantly higher than *ST Yushun's current performance, with expected revenues of 735 million yuan, 815 million yuan, and 218 million yuan for 2023, 2024, and Q1 2025 respectively [8]. Group 2: Strategic Investment in Bingji Technology - Shanghai Fengwang, the controlling shareholder of *ST Yushun, has signed a strategic investment framework agreement to inject 300 million yuan into Bingji Technology, which specializes in AI computing services [1][2]. - Bingji Technology is recognized as one of the largest AI computing service providers in Southwest China, operating a computing cluster of no less than 20,000 P and planning to expand to 50,000 P [2]. - The investment in Bingji Technology raises questions about potential competition with the data center business of Zhong'en Cloud, but the chairman of *ST Yushun asserts that the two businesses serve different customer needs [4][5]. Group 3: Future Prospects and Market Reactions - The chairman of *ST Yushun indicated that while the current investment is made by Shanghai Fengwang, there is a possibility that Bingji Technology could be integrated into *ST Yushun in the future [6]. - The market is closely watching the upcoming shareholder meeting on September 29, where the acquisition of Zhong'en Cloud will be reviewed [9].

转自：新华财经 【重点关注】 •习近平同美国总统特朗普通电话 •8月份国民经济运行总体平稳 规模以上工业增加值同比增长5.2% 社会消费品零售总额同比增长3.4% •财政部：1-8月证券交易印花税同比增长81.7% •商务部等9部门发布《关于扩大服务消费的若干政策措施》提出五方面19条举措 •网信部门依法整治快手、微博热搜炒作明星乱象 快手、微博回应：诚恳接受 第一时间组织团队整改 •第十一批国家组织药品集中采购文件公布 细化完善药品集采规则 坚持"稳临床、保质量、防围标、反 内卷"原则 •美联储宣布降息25个基点 市场预期10月降息可能性超过90% •现货黄金历史上首次突破3700美元／盎司 【国内要闻】 •9月19日晚，国家主席习近平同美国总统特朗普通电话，就当前中美关系和共同关心的问题坦诚深入交 换意见，就下阶段中美关系稳定发展作出战略指引。通话是务实、积极、建设性的。 •中共中央政治局常委、国务院总理李强9月15日至16日在甘肃、青海调研。他强调，要坚持创新驱动， 推进绿色发展，因地制宜培育壮大新质生产力，加快构建体现本地特色和优势的现代化产业体系，更好 造福人民群众。 •国务院总理李强9月19日主持 ...

Core Viewpoint - The stock prices of non-WiTech Materials and *ST Yushun have surged significantly this year, with *ST Yushun's stock price increasing nearly tenfold since the beginning of the year, driven by strategic acquisitions and market speculation [2][10]. Group 1: Company Developments - *ST Yushun's major shareholder, Shanghai Fengwang, signed a strategic investment framework agreement with existing shareholders of Binge Technology, committing to an investment of 300 million yuan, expected to be completed within 30 days [2][4]. - The chairman of *ST Yushun, Ji Min, indicated that the major asset restructuring is close to completion but still requires shareholder approval and other processes before further acquisitions can be initiated [2][4]. - Binge Technology, established in 2020, is recognized as the largest AI computing power service provider in Southwest China, with a registered capital of 147 million yuan and operational capabilities involving nearly 30,000 computing power cards [5][6]. Group 2: Market Reactions and Speculations - The market reacted positively to the news of the investment in Binge Technology, leading to consecutive stock price increases for *ST Yushun, despite the ongoing restructuring process [2][8]. - Analysts suggest that the acquisition could indicate either the high quality of Binge Technology's assets or potential speculative motives from the major shareholder [4][8]. - The stock price of *ST Yushun has been subject to significant speculation, with over ten announcements regarding abnormal stock price fluctuations since the announcement of the major asset restructuring [9]. Group 3: Industry Context - The A-share market is experiencing unprecedented enthusiasm for mergers and acquisitions, supported by favorable policies, with over 40 completed mergers in the computing power data sector from 2022 to 2024 [4][9]. - The computing power industry is seen as a critical infrastructure for the smart era, with increasing demand for high-performance chips and a push from government policies to develop a systematic and high-quality computing power network [8][9].

Domestic News - The "East Data West Computing" project has led to over 1 trillion yuan in social investment, forming 8 hub nodes and 10 data center clusters, covering 14 provinces and providing approximately 80% of the intelligent computing power for the nation, promoting the development of AI, smart manufacturing, and telemedicine [1] - In the first eight months of this year, Chongqing's automobile production reached 1.659 million units, a year-on-year increase of 7.6%, with new energy vehicle production at 690,000 units, up over 31% [2] - The 11th batch of national drug centralized procurement allows medical institutions to report quantities either by generic name or specific brand, optimizing the procurement process [2] - Jiangsu Province's industrial added value increased by 6.8% year-on-year from January to August, with advanced manufacturing and high-tech manufacturing leading the growth [3] International News - The European Central Bank's council member suggested that a rate cut in December would be beneficial for achieving inflation targets and economic development [5] - Tesla has received approval to test autonomous vehicles equipped with safety monitors in Arizona, marking a significant step in expanding its autonomous taxi business [5] - The United Nations Educational, Scientific and Cultural Organization awarded the "Al-Fozan Prize" to a researcher from the Chinese Academy of Sciences for contributions to marine climate change, highlighting the importance of scientific evidence in assessing climate risks [4]

Core Insights - The "East Data West Computing" project has led to significant scale effects, with social investment exceeding 1 trillion yuan since its implementation [1][5] - The project aims to optimize the layout of data centers and promote collaboration between eastern and western regions by directing computing power demand from the east to the west [3][5] Group 1: Project Overview - The "East Data West Computing" initiative was officially launched in 2022, focusing on building a new computing power network through data centers, cloud computing, and big data integration [3] - During the 14th Five-Year Plan period, the project has established 8 hub nodes and 10 data center clusters, covering 14 provinces across eastern, central, and western China [5] Group 2: Regional Impact - Among the 8 hub nodes, 5 are located in the western region, facilitating the migration of eastern business operations to areas rich in hydropower, such as Gansu and Inner Mongolia [7] - Prior to the project's implementation, 80% of the country's computing power was concentrated in the eastern region, while the corresponding energy resources were in the west [9] Group 3: Industry Development - The initiative has provided approximately 80% of the intelligent computing power for the nation, accelerating the development of industries such as artificial intelligence, smart manufacturing, and telemedicine [5]

Group 1 - The stock prices of non-listed companies, such as Non-Wai New Materials and *ST Yushun, have surged significantly this year, with *ST Yushun's stock price increasing over 12 times following its asset acquisition announcement [2] - On September 14, 2023, Bianji Technology announced a strategic investment framework agreement with Shanghai Fengwang, the major shareholder of *ST Yushun, for a capital increase of 300 million yuan, which is expected to be completed within 30 days [2][3] - The chairman of *ST Yushun, Ji Min, stated that the major asset restructuring is nearly complete but still requires shareholder approval and other processes before any new acquisitions can be initiated [2][3] Group 2 - Industry insiders suggest that the enthusiasm for mergers and acquisitions in the A-share market is unprecedented, with Shanghai Fengwang's eagerness to acquire assets despite the ongoing restructuring of *ST Yushun [3] - Ji Min emphasized that Bianji Technology is a high-quality asset that aligns with Shanghai Fengwang's investment strategy, which prompted the swift decision to invest [4] - Bianji Technology, established in 2020, is a leading AI computing power service provider in Southwest China, operating nearly 30,000 computing power cards and securing access to high-end chips, including those from Nvidia [4][5] Group 3 - Bianji Technology has formed joint laboratories with top universities and has been recognized in the Ministry of Industry and Information Technology's computing power foundation list, indicating its strong market position [5] - The investment in Bianji Technology is driven by its expected profitability, although specific financial details were not disclosed [5] - Ji Min clarified that the business of Bianji Technology does not compete with *ST Yushun's existing operations, as they focus on different aspects of the data center industry [6]

Core Viewpoint - The transformation of Qingyang from a traditional agricultural region to a digital powerhouse, known as "China's Computing Valley," is driven by the establishment of a robust computing infrastructure and the strategic implementation of the "East Data West Computing" initiative [1][4]. Group 1: Infrastructure Development - Qingyang has built 31,000 standard racks, achieving a computing power scale of over 66,000 Pflops, making it the fastest-growing data center cluster among the eight national computing hub nodes [2]. - The region benefits from a stable geological structure, a cool and dry climate, and abundant electricity resources, which are essential for developing the big data industry [1][2]. Group 2: Renewable Energy Integration - Qingyang is recognized as a key area in the "Golden Triangle" of energy in the northwest, with a total installed power capacity of 6.789 million kilowatts by June 2025, including 3.2253 million kilowatts from wind power (47.51%) and 1.5358 million kilowatts from solar power (22.62%) [2]. - The local government is promoting energy structure transformation by integrating renewable energy sources to support the high energy demands of data centers, aiming for a green development model [2]. Group 3: Economic and Social Impact - The establishment of the computing center has attracted major internet companies, research institutions, and innovative tech firms, creating a complete computing industry chain [3]. - Various applications based on strong computing power are emerging, enhancing digital transformation in traditional industries and improving public services and governance [3][4]. - The "East Data West Computing" initiative is expected to drive digital industrialization and create over 80,000 high-end job opportunities, contributing to economic growth and social development [4].

Group 1 - The "East Data West Computing" project has shown significant scale effects since its implementation, contributing to the development of various industries such as artificial intelligence, smart manufacturing, and telemedicine [1] - The project was fully launched during the 14th Five-Year Plan period and has established 8 hub nodes and 10 data center clusters, covering 14 provinces in eastern, central, and western China [1] - The initiative has driven social investment exceeding 1 trillion yuan and provides approximately 80% of the national intelligent computing power [1]