中贝通信（603220.SH）12月25日在投资者互动平台表示，公司依托三十多年的发展，具备了从智算集 群硬件到软件及平台的全栈式服务能力，覆盖服务器、存储、网络、安全、软件开发等专业领域，打造 了一支能够在复杂网络环境条件下为客户提供服务的专业技术团队，能够全专业技术领域提供系统解决 方案和服务。在智算业务上，公司已具备规模化的运营优势与智算中心全国性布局，目前已运营算力规 模超过17000P，为金山云、阶跃星辰、临港算力、青海联通、济南超级计算中心有限公司等客户提供 智算服务。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：目前智算行业竞争非常激烈，众多企业争相布局，公 司是否有足够竞争力？ ...

以下是第一财经对一些重要公告的汇总，供投资者参考。 【品大事】 莲花控股：控股孙公司拟2亿元购买4000块加速卡产品及服务 用于开展智算业务 莲花控股公告称，公司控股孙公司莲花紫星与EⅫ公司签署《产品销售合同》，EⅫ公司向莲花紫星提供4000块加速卡产品及服务，合同总价为2亿元。根据 合同约定，本合同第一期货款为合同总金额的60%，公司已支付第一期货款1.2亿元，截至目前产品尚未交付。此次购买的4000块加速卡产品及服务用于开 展公司控股孙公司莲花紫星的智算业务，将进一步增强其市场竞争力。 三六零澄清：相关人员在职期间从未担任核心管理层职务 不存在财务造假情形 三六零发布澄清公告，关注到媒体转载"前高管"在微信群及社交平台发布的不实言论，涉及公司游戏业务财务造假等内容，相关截图在网络传播，引发部分 关注。公司现就相关情况予以澄清说明如下：经核查，相关人员曾担任GameWave游戏公司负责人，GameWave游戏公司曾被三六零原美股上市主体Qihoo 360 Technology Co.Ltd.收购。相关人员2014年入职Qihoo 360下属公司，2015年因个人原因离职。其在职期间从未担任A股上市公司三六零 ...

每经AI快讯，12月16日，莲花控股（600186）(600186.SH)公告称，公司控股孙公司莲花紫星与EⅫ公司 签署《产品销售合同》，EⅫ公司向莲花紫星提供4000块加速卡产品及服务，合同总价为2亿元。根据 合同约定，本合同第一期货款为合同总金额的60%，公司已支付第一期货款1.2亿元，截至目前产品尚 未交付。此次购买的4000块加速卡产品及服务用于开展公司控股孙公司莲花紫星的智算业务，将进一步 增强其市场竞争力。 ...

人民财讯12月16日电，莲花控股（600186）12月16日公告，公司控股孙公司浙江莲花紫星智算科技有限 公司(简称"莲花紫星")与EⅫ公司签署《产品销售合同》。经双方确认，EⅫ公司向莲花紫星提供4000块 加速卡产品及服务，合同总价为2亿元。此次购买的4000块加速卡产品及服务用于开展公司控股孙公司 莲花紫星的智算业务，将进一步增强其市场竞争力。 ...

格隆汇12月10日丨电光科技(002730.SZ)在投资者互动平台表示，目前，我们的超算业务板块进展顺 利， 首批根据客户需求定制化部署的超算项目，已经顺利交付，为进一步提升服务灵活性与市场响应 速度，公司新部署的运营性算力资源目前正处于最终的调试与优化阶段，预计将于本月中旬正式上线， 开始承接更广泛的客户需求。我们已经与北京某生物研究所达成初期合作，首个小规模GPU算力集群已 经部署完毕。为后续深耕该领域奠定了良好基础。目前，新拓展行业的营收贡献尚未形成规模占比。 关于算力扩容的量化标准与未来规划：对于超算业务，原则上，当现有超算集群的综合使用率稳定达到 60%以上时，我们会启动下一阶段的按需扩容评估与规划。此标准旨在确保新增投资能够被高效利用， 避免资源闲置，保障投入产出的健康度。具体的扩容时间窗口将遵循上述标准，并综合考量市场需求增 速、客户签约情况以及行业技术发展等因素后动态确定。 在智算业务方面，当前阶段公司策略仍以承 接客户定制化需求为主。同时，为培育市场、探索更灵活的服务模式，我们计划采购少量可支持单卡调 度的运营性资源，以增强服务的弹性与覆盖面。 ...

Core Viewpoint - Hainan Huatie announced the early termination of a 3.69 billion yuan computing power service agreement with "Hangzhou X Company," raising market and regulatory concerns [2][3]. Group 1: Contract Termination - The contract, signed in March, was for a five-year term with a total expected value of 3.69 billion yuan [2]. - The termination was due to significant changes in market conditions and supply-demand dynamics since the agreement was signed, with no procurement orders received [3]. - Hainan Huatie emphasized that the termination of this routine business contract would not affect its normal operations or long-term strategic plans in the computing power sector [3]. Group 2: Business Overview - Hainan Huatie primarily engaged in emergency equipment leasing and has recently expanded into intelligent computing services as a second growth avenue [2][4]. - The company has signed a total of 6.67 billion yuan in computing power service agreements as of March 2025, with significant asset deliveries completed [5]. - The intelligent computing business is structured similarly to its equipment leasing services, focusing on providing comprehensive solutions for training and inference computing power [5]. Group 3: Financial Performance - In the first half of 2025, Hainan Huatie reported revenue of 2.805 billion yuan, a year-on-year increase of 18.89%, and a net profit of 341 million yuan, up 1.85% year-on-year [5]. - As of September 30, the company's stock price was 9.68 yuan, with a total market capitalization of 19.326 billion yuan [5].

Core Viewpoint - The company is actively expanding its team and business in the computing power industry through the recruitment of skilled professionals and is currently generating revenue from its operations [2] Group 1 - The subsidiary Wuhu Changxin Huarui Intelligent Computing Technology Co., Ltd. is enhancing its team by attracting top talent in procurement and technology within the computing power sector [2] - The company is currently operating normally and has achieved revenue generation at this stage [2] - The company is accelerating the expansion of its intelligent computing business in collaboration with industry partners [2]

Core Viewpoint - ST Zhongqingbao (300052.SZ) is actively expanding its cloud computing business, focusing on building high-quality cloud data centers and exploring new revenue streams through its intelligent computing services [1] Group 1: Cloud Computing Business - The company has established self-built high-quality cloud data centers in Shenzhen, Chengdu, and Leshan [1] - It provides basic IDC services such as cabinet rental and bandwidth rental, along with value-added services like network security [1] Group 2: Intelligent Computing Services - During the reporting period, the company launched its intelligent computing business, integrating resources from computing equipment manufacturers, business expansion channels, and industry application developers [1] - The intelligent computing business is currently in the market expansion and model exploration phase, with a small revenue scale [1] - There is uncertainty regarding the maturity of its business model and the profitability cycle [1]

Core Viewpoint - ST Zhongqingbao (300052) reported a narrowing loss in its 2025 mid-year financial results, with total revenue declining and a slight improvement in net profit loss compared to the previous year [1] Financial Performance Summary - Total revenue for the period was 97.9464 million yuan, a year-on-year decrease of 19.19% [1] - Net profit attributable to shareholders was -24.6458 million yuan, showing a year-on-year improvement of 1.45% [1] - In Q2, total revenue was 48.6697 million yuan, reflecting a year-on-year increase of 5.04% [1] - Q2 net profit attributable to shareholders was -12.9112 million yuan, with a year-on-year improvement of 7.87% [1] - Gross margin stood at 28.73%, up 32.86% year-on-year, while net margin was -25.27%, down 25.27% year-on-year [1] - Total selling, administrative, and financial expenses amounted to 40.5026 million yuan, accounting for 41.35% of revenue, an increase of 27.5% year-on-year [1] - Earnings per share were -0.09 yuan, a year-on-year increase of 10.0% [1] Key Financial Changes - Cash and cash equivalents increased by 143.77%, attributed to reduced short-term loan repayments and new intelligent computing business collections [9] - Contract liabilities rose by 32.87% due to pre-received contract payments [3] - Financial expenses increased by 27.48% due to higher financing lease costs [7] - Research and development expenses decreased by 30.65% due to project adjustments and reduced personnel costs [9] - Operating cash flow decreased by 38.76% due to lower sales collections from decreased revenue [9] Business Evaluation - The company's historical financial performance has been generally poor, with a median Return on Invested Capital (ROIC) of -4.79% over the past decade [9] - The company has reported losses in 7 out of 14 annual reports since its listing, indicating a lack of investor interest without significant restructuring or shell acquisition [9] - Current cash flow situation is concerning, with cash and cash equivalents only covering 16.99% of current liabilities [9]

Core Insights - Hengwei Technology reported significant declines in both revenue and net profit for the first half of 2025, with revenue at 488.40 million yuan, a year-on-year decrease of 23.19%, and net profit attributable to shareholders at 17.82 million yuan, down 75.16% [2][3] Financial Performance - Total revenue for the first half of 2025 was 488.40 million yuan, compared to 635.89 million yuan in the same period last year, reflecting a decrease of 23.19% [3] - Total profit for the period was 17.06 million yuan, a decline of 77.11% from 74.55 million yuan year-on-year [3] - The net profit attributable to shareholders was 17.82 million yuan, down 75.16% from 71.74 million yuan in the previous year [3] - The net profit after deducting non-recurring gains and losses was 15.07 million yuan, a decrease of 77.99% compared to 68.46 million yuan last year [3] - The net cash flow from operating activities was 72.64 million yuan, a significant improvement from a negative cash flow of 104.35 million yuan in the previous year [3] - As of the end of the reporting period, the net assets attributable to shareholders were 1.37 billion yuan, a slight increase of 0.86% from the previous year [3] Business Segmentation - The network visualization business generated revenue of 262 million yuan, a year-on-year increase of 43.48%, primarily benefiting from the implementation of projects in the operator market [4] - Conversely, the intelligent system platform business saw revenue drop to 226 million yuan, a decline of 49.95%, which was the main factor dragging down overall performance [4] - The decline in the intelligent system platform business was attributed to a reduction in orders for intelligent computing services [4] Subsidiary Performance - Several subsidiaries of Hengwei Technology reported losses, including Shanghai Hengwei Intelligent Technology, Zhejiang Hengwei Electronics, and Shenzhen Haishang Zhiyun Technology, with at least six major subsidiaries showing negative net profits [5] Dividend and R&D - In response to performance pressures, Hengwei Technology announced a semi-annual dividend plan, proposing a payout of 0.05 yuan per 10 shares (tax included) [5] - The company maintained R&D expenditures at 59.45 million yuan, a slight increase of 0.45% year-on-year, and introduced a new utility model patent for "FPGA-based power switch control circuit" [5]