Core Insights - Ningxia has become the seventh largest in intelligent computing scale nationwide and has launched the first large-scale "computing and electricity integration" project, establishing a diverse heterogeneous intelligent computing cluster with 30,000 units [1][2] Group 1: Infrastructure Development - Ningxia has integrated the "East Data West Computing" project into its major projects, implementing policies for technological innovation, investment, industry support, and talent cultivation to build a high-quality "Western Data Valley" [1] - By the end of 2025, Ningxia plans to establish 10 large and super-large data center parks, with six of the top ten computing service providers in the country located in Ningxia [1] - The number of standard racks in data centers has increased to 7.3 times that of the end of the 13th Five-Year Plan [1] Group 2: Network Construction - Ningxia has built 24,000 5G base stations, achieving 100% coverage of administrative villages with 5G networks [1] - The deployment of four 400G optical transmission systems connecting Zhongwei to Chongqing, Lanzhou, Beijing, and Shanghai has been completed, successfully validating lossless transmission of massive data over distances exceeding 3,000 kilometers [1] Group 3: Green Energy Initiatives - Ningxia's renewable energy installed capacity exceeds 60%, with a utilization rate of 94%, ranking first in the northwest region [2] - The region has innovatively constructed green electricity parks, promoting a green electricity aggregation supply model to enhance the proportion of green electricity consumption in data centers [2] Group 4: Key Projects - The Datang Zhongwei Cloud Base data center's green electricity supply project, with a capacity of 2 million kilowatts, is a key node in the national "East Data West Computing" project [2] - Upon full completion, the project is expected to supply approximately 4.14 billion kilowatt-hours of clean electricity annually, reducing carbon dioxide emissions by about 3.3 million tons [2] Group 5: Industry Leadership - China Telecom's Zhongwei computing hub has established a leading heterogeneous intelligent computing cluster in the west, capable of meeting high-intensity computing demands [3] - The constructed low-latency network has opened direct circuits to major cities, achieving a one-way latency of ≤8ms to Beijing and ≤13ms to Shanghai [3] Group 6: New Developments - The Zhongjiao Zhishu Valley (Ningxia Zhongwei) Industrial Park has recently opened, with a total investment of approximately 3.8 billion yuan and an overall IT capacity exceeding 140 megawatts [4] - The park aims to strengthen computing security, deepen industrial integration, and build an open ecosystem, focusing on sectors such as transportation, urban development, and water conservancy [4]

Core Viewpoint - Ningxia is emerging as a "zero-carbon computing power" hub, leveraging its abundant renewable energy resources and strategic location to promote the synergy of computing power and electricity [1][3] Group 1: Project Developments - The first phase of a green electricity park for the big data industry in Ningxia is planned with a total investment of approximately 8.7 billion yuan, including 500,000 kW of photovoltaic and 1.5 million kW of wind power [2] - The China Communications Construction Company has opened the Zhishugu Valley (Ningxia Zhongwei) Industrial Park, with a total investment of about 3.8 billion yuan, aimed at becoming a national data industry center [2] - The Ningxia Electric Power Company is actively promoting the integration of computing power and electricity, focusing on building a zero-carbon green computing power center [3] Group 2: Infrastructure and Technology - The Datang Zhongwei Cloud Base data center is operating smoothly, utilizing a commercial model that combines renewable energy with data center operations to ensure quality and low-cost green electricity supply [2] - The China Telecom Zhongwei computing power hub has established a comprehensive service system, leading in resource scale and customer coverage in the western region [2] - The Ningdong Energy and Chemical Base is implementing smart management projects to optimize energy dispatch through digital means, promoting the synergy between renewable energy and computing power [3] Group 3: Future Goals and Projections - By the end of 2025, Ningxia aims to establish 10 large and super-large data center parks, with six of the top ten computing power service providers in the country operating in the region [3] - The region is set to achieve a doubling in the number of data center parks, disaster recovery centers, computing power investments, standard racks, intelligent computing cards, and computing power scale by 2025 [3] - The integration of green electricity and computing power is expected to drive high-quality development in Ningxia, marking a significant transformation from barren land to a computing power hub [3]

算力方面，雅安作为成渝地区大数据产业基地，已建成全省规模最大的数据中心，4万个机架、 6142PFlops总算力，其信息计算、网络传输能力稳居川渝领先。 （来源：中国改革报） 转自：中国改革报 今年四川省两会上，省政协委员、雅安市政协主席张通荣带来三份提案，精准锚定生态价值转化、算力 产业赋能、区域协同发展三大重点领域，破解发展瓶颈、激活发展动能，着力推动雅安生态、算力"双 家底"转化为高质量发展"硬实力"。 张通荣介绍，雅安拥有生态和算力这两样"好家底"。生态方面，既是长江上游重要生态屏障，也是成渝 群众休闲度假的"后花园"，雅安作为全国首批医养结合试点市，已建成13家医养结合机构，中药材已形 成从种植、加工到销售的完整医药健康产业链。 "尽管如此，这些优势尚未完全转化为发展实效。生态资源价值有待进一步挖掘，优质算力资源的应用 场景有待拓展。"张通荣坦言，产业兴则民生兴，生态优则百姓安。此次带来的三份提案以人为本，紧 扣"区位、生态、文化"融合发展主线，将算力与生态作为雅安破局提质的"双引擎"。 在区域协同上，张通荣提案建议切实把握川藏铁路建设等重大机遇，深入践行"生态立市、产业兴市、 开放活市"发展战略， ...

Core Viewpoint - The company, Zhejiang Zhaolong Interconnect Technology Co., Ltd., is experiencing growth in revenue and profit, driven by its technological advancements in high-speed cables and optical products, as well as benefiting from the depreciation of the RMB. Group 1: Company Performance - For the period from January to September 2025, the company achieved a revenue of 1.518 billion yuan, representing a year-on-year growth of 13.28% [7] - The net profit attributable to the parent company was 138 million yuan, showing a significant year-on-year increase of 53.82% [7] - The company has distributed a total of 113 million yuan in dividends since its A-share listing, with 82.34 million yuan distributed over the past three years [8] Group 2: Market Position and Products - The company has established itself as a core partner in the active electrical cable (AEC) sector for leading international interconnect solution providers [2] - It is one of the few domestic companies capable of designing and manufacturing data cables of categories 6, 7, and 8, meeting the new data transmission demands of the 5G era [2] - The company's optical products include fiber jumpers and connectors, primarily serving high-end projects in finance, education, and healthcare, while also expanding into overseas markets [2] Group 3: Financial Metrics and Shareholder Information - As of September 30, 2025, the company's overseas revenue accounted for 61.93%, benefiting from the depreciation of the RMB [3] - The average trading cost of the stock is 54.79 yuan, with recent trading showing a decrease in holdings but at a slowing rate [6] - The company has a total market capitalization of 17.166 billion yuan, with a trading volume of 142 million yuan and a turnover rate of 1.10% [1]

Core Viewpoint - Computing power is becoming a crucial element in the competition among nations, especially in the construction of AI infrastructure, leading to a significant increase in demand for green electricity and a focus on reliable and stable energy sources [1] Group 1: Development of Computing Power in Ningxia - Ningxia has been approved to build a national hub node for the integrated computing power network, incorporating the "East Data West Computing" project as a major initiative, with policies aimed at technological innovation, investment, and talent cultivation [1] - By the end of 2025, Ningxia will have established 10 large and super-large data center parks, with the scale of intelligent computing ranking seventh in the country [2] - The region has built 24,000 5G base stations, achieving 100% coverage in administrative villages, and has completed the deployment of 400G optical transmission systems [4] Group 2: Green Energy Initiatives - Ningxia's renewable energy installed capacity exceeds 60%, with a utilization rate of 94%, the highest in Northwest China [4] - The first large-scale "computing power and electricity integration" project in the country has been launched, with a green electricity supply of 2 million kilowatts, expected to reduce carbon emissions by approximately 3.3 million tons annually [6] - The project aims to support the region's goal of achieving "zero-carbon computing power" and establish a new model for the coordinated development of green energy and the digital economy [6] Group 3: Infrastructure and Technological Advancements - China Telecom's Ningxia company has developed a robust intelligent computing cloud base, enhancing infrastructure and exploring development paths for the "East Data West Computing" strategy [6] - The China Unicom Ningxia cloud data center is positioned as a core node for the national strategy, with plans for significant expansion and innovative cooling technologies to achieve a PUE of below 1.1 [13] - The China Communications Construction Group has opened the largest data center in Ningxia, focusing on green efficiency and supporting national computing power demands [14]

以下文章来源于秦朔朋友圈 ，作者屠波 秦朔朋友圈 . 秦朔朋友圈是由中国著名媒体人、财经观察家秦朔牵头创立的一个新媒体与专业服务品牌，包括微信公 众号、微博、视频节目、音频节目等。内容聚焦于经济、金融和商业领域，关注重点为全球和中国财经 商业热点、企业家精神、创新与发明创造、商业文明探索等。 来源丨秦朔朋友圈（ID： qspyq2015 ） 作者丨 屠波 图源丨Midjourney 作为电网升级的" 心脏部件"，变压器在美国本土产能严重不足，80%依赖进口。而且数据中心的变 压器大多需要定制化，交货周期更是从50周延长至127周。咨询公司伍德麦肯兹警告，美国变压器市 场已到危急关头，在建中的数据中心延期已成定局。 同一时刻，被称为 "世界变压器之都"的常州，这里的数字化车间正热火朝天，与时间赛跑。为海外 电网客户制造的同等级变压器，在定制的硅钢片制成主体上，需要进行严苛的72小时满负荷试验。温 度、振动、局部放电量，所有指标都是绿色，方能放行。 厂区外，是整装待发的重型卡车，它们的目的地是沙特吉达、德国汉堡、印尼雅加达、智利安托法加 斯塔。这些钢铁巨兽将在未来数月内，成为不同大陆电网的新心脏。 全球性的变压器 ...

Core Viewpoint - KWH Data's stock price has shown fluctuations, with a recent increase of 2.06% on February 6, 2023, reaching 57.38 CNY per share, while the company has experienced a decline of 8.19% over the last five trading days and a 13.58% drop over the last 20 days [1]. Group 1: Stock Performance and Market Activity - As of February 6, 2023, KWH Data's market capitalization is 29.574 billion CNY, with a trading volume of 411 million CNY and a turnover rate of 1.61% [1]. - The net inflow of main funds is 9.1031 million CNY, with large orders accounting for 20.81% of purchases and 18.93% of sales [1]. - Year-to-date, KWH Data's stock has increased by 3.33%, while it has seen a 9.05% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, KWH Data achieved a revenue of 5.706 billion CNY, representing a year-on-year growth of 5.79%, and a net profit attributable to shareholders of 344 million CNY, reflecting a significant increase of 44.71% [2]. - Cumulative cash dividends since the company's A-share listing amount to 1.385 billion CNY, with 130 million CNY distributed over the last three years [3]. Group 3: Shareholder Structure - As of January 30, 2025, KWH Data has 100,000 shareholders, a decrease of 6.54% from the previous period, with an average of 4,546 circulating shares per shareholder, which is an increase of 7.00% [2]. - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 20.0319 million shares, an increase of 13.3589 million shares from the previous period [3].

日前，国家超算互联网核心节点在郑州正式上线试运行，这一全国一体化算力网络的重大基础设施，凭 借3套中科曙光scaleX万卡超集群系统的同步部署，一举成为全国首个实现3万卡规模部署、且可实际投 入运营的最大国产AI算力池。 作为国家部委、河南省、郑州市多方协同发力、重点部署的战略工程，该核心节点的落地承载着打破算 力壁垒、优化资源配置的重要使命，其战略价值不言而喻。此次开创性完成国产万卡超集群的规模化部 署，不仅创下多项业界纪录，更打造了一个可复制、可验证、可普及的国家级算力建设样板间，为全国 一体化算力网络发展提供了宝贵的实践参考。 中科曙光scaleX万卡超集群的三大核心优势，构筑起这一国产算力底座的硬核实力，全方位领跑业界发 展。在集成度上，该集群采用全球首创的高密度单机柜设计，融合超高密度刀片、浸没相变液冷等前沿 技术，将单机柜算力密度提升20倍之多，同时将电能利用效率（PUE）控制在1.04的超低水平，实现了 算力与节能的双向突破，呼应了"双碳"目标下算力基础设施绿色发展的要求。 众所周知，算力作为数字经济时代的核心生产力，堪比农业时代的水利、工业时代的电力，而我国算力 网络建设的核心目标，正是打破算 ...

（文章来源：人民日报） 一排整齐排列的机柜中，服务器指示灯不停闪烁着点点光芒……这是位于河北廊坊的润泽智算科技集团 股份有限公司（以下简称"润泽科技"）投资建设的国际信息港园区，此刻，海量的数据正在这里高速流 转。 2009年，润泽科技在廊坊经济技术开发区注册成立。不久后，润泽国际信息港项目破土动工。几年间， 这里凭借一流的设施配置、可靠的运行环境及地处京津冀协同发展核心区域的优越地理位置，吸引数十 家单位、企业入驻，为其提供规模化、绿色化、智能化先进算力服务。 近年来，随着各行业数字化转型的推进，算力需求出现爆发式增长。润泽科技通过构建覆盖广泛、高效 节能的算力基础设施网络，为人工智能大模型的训练和推理提供全方位的算力保障。 2023年10月，工业和信息化部等六部门联合印发《算力基础设施高质量发展行动计划》，将促进绿色低 碳算力发展作为六项任务之一。算力中心如何在高效运转的同时实现低碳运行？润泽科技敏锐地捕捉到 AI和液冷技术带来的发展机遇，开始自主研发冷板式液冷技术，2023年率先交付业内首例整栋纯液冷 绿色智算中心，满足国家"东数西算"工程对绿色数据中心的严格要求。"我们积极践行可持续发展理 念，持续推 ...

Core Viewpoint - Muxi Integrated Circuit (Shanghai) Co., Ltd. plans to manage idle fundraising through cash management to optimize fund usage and enhance short-term financial returns while ensuring the normal progress of fundraising projects [1][2]. Group 1: Fundraising and Project Details - Muxi Co. raised a net amount of 3.899 billion yuan through its initial public offering on the Sci-Tech Innovation Board, with fundraising projects including the development and industrialization of new high-performance general-purpose GPUs and AI inference GPUs [2]. - The "New High-Performance General-Purpose GPU R&D and Industrialization Project" includes products C600 and C700, with planned fundraising allocations of 841 million yuan and 1.618 billion yuan respectively. C600 is expected to enter mass production in Q1 2026 [2]. Group 2: Cash Management Strategy - The company will manage up to 2.9 billion yuan of idle fundraising through cash management, ensuring that funds are invested in safe, liquid products with a maturity of no more than 12 months, allowing for timely redemption based on project funding needs [1][2]. - The cash management approach aims to reduce opportunity costs associated with idle funds and align product maturity with project funding schedules, thereby ensuring the return of funds as needed for project construction [1][2]. Group 3: Industry Context and Company Focus - The integrated circuit industry is characterized by high investment and long R&D cycles, with significant phase-based expenditure patterns for R&D, equipment procurement, and validation [2]. - Muxi Co. focuses on four main areas: AI training and inference, general computing, graphics rendering, and scientific intelligence, specializing in the R&D, design, and sales of full-stack GPU products [3].