Core Viewpoint - Dongxin Co., Ltd. (688110.SH) announced that its stock price has deviated by 30% over three consecutive trading days, indicating abnormal trading activity due to market rumors regarding a large GPU chip order with Lishuan Technology (Shanghai) Co., Ltd. [1] Group 1: Company Developments - The company confirmed that Lishuan Technology has signed a strategic cooperation framework agreement with a leading domestic cloud service provider, focusing on future collaboration in areas such as domestic cloud desktop systems, domestic AIPC, cloud rendering, and digital twin solutions [1] - Currently, only the framework agreement has been signed, and no specific orders have been placed, meaning no revenue has been generated yet [1] - The chip products from Lishuan Technology are primarily intended for applications in personal computers, professional design, AIPC, cloud gaming, cloud rendering, and digital twin scenarios, rather than for large model computing clusters [1] Group 2: Market Implications - The sales of Lishuan Technology's products are contingent upon product certification, customer onboarding, and mass production supply, all of which involve uncertainties [1]

Core Viewpoint - Dongxin Co., Ltd. announced that its stock price has deviated significantly, with a cumulative increase of 30% over three consecutive trading days, due to market rumors regarding a large GPU chip order with Lishan Technology (Shanghai) Co., Ltd. [1] Group 1: Stock Trading and Market Reaction - The stock price of Dongxin Co., Ltd. experienced an abnormal fluctuation, with a cumulative increase of 30% over the trading days of November 25, 26, and 27, 2025 [1] - The market rumors were linked to a supposed large GPU chip order signed with Lishan Technology [1] Group 2: Strategic Cooperation Agreement - Lishan Technology has signed a Strategic Cooperation Framework Agreement with a leading domestic cloud computing service provider, focusing on collaboration in areas such as domestic cloud desktop systems, domestic AIPC, cloud rendering, and digital twin solutions [1] - Currently, only the framework agreement has been signed, and no specific orders have been placed, meaning no revenue has been generated yet [1] Group 3: Product Application and Risks - The chip products from Lishan Technology are primarily used in personal computers, professional design, AIPC, cloud gaming, cloud rendering, and digital twin scenarios, rather than in large model computing clusters [1] - The sales of these products require product certification, customer onboarding, and mass production supply, all of which carry uncertainties [1] - Lishan Technology faces various risks, including industrialization progress risk, market competition risk, product singularity risk, performance risk, ongoing operation risk, and funding flow risk [1] Group 4: Accounting Treatment - Dongxin Co., Ltd. accounts for its investment in Lishan Technology using the equity method, and it is not included in the consolidated financial statements [1]