云天励飞-U（688343.SH）深度报告 算法芯片化助力，全产业链发展打造推理 AI 龙头 2025 年 09 月 30 日 ➢ 公司 AI 产品以消费级、企业级、行业级三方向发展。公司以"算法芯片化" 作为底层优势，在消费级、企业级、行业级三种场景部署产品和服务。企业级场 景主要为 AI 推理芯片与相关产品、算力服务及 IP 授权服务等，其中公司自研的 DeepEdge 系列通过"算力积木"架构可提供 8-128T 算力，已经在智慧交通、 机器人、家庭主机、推理服务器等领域与头部企业合作并实现商用，16.07 亿元 的 AI 算力服务订单已经验收并正常回款。消费级场景主要包括噜咔博士 AI 拍学 机、AI 眼镜等 AI 原生产品和 AI 耳机、AI 手表等可穿戴设备模组等 AI 赋能产 品，并实现了快速增长。行业级注重项目质量，考核目标从销售额转向利润端。 ➢ Deepseek 开源模型，推动"算法-芯片协同进化"。Deepseek R1 通过关 键设计的奖励系统、训练模板、自进化现象，以及用于强化学习的核心算法 GRPO，用低算力的 GPU 训练出了媲美 OpenAI o1 的模型，证实了在 AI 行业 ...

Group 1 - The core theme of the "AI for Good" forum was the development direction of AI chips, with a focus on making technology accessible globally [1] - Dr. Chen Ning, CEO of Yuntian Lifei, emphasized the importance of AI inference chips in achieving widespread technological benefits and addressing global challenges [1][9] - Yuntian Lifei has developed the DeepEdge10 chip platform, which includes four chips with computing power ranging from 8T to 256T, catering to various performance needs [3][4] Group 2 - The company has launched a series of AI inference products that cover cloud, edge, and terminal applications, supporting various industries such as smart cities and intelligent computing [4][6] - Yuntian Lifei's innovative architecture, "Computing Power Building Blocks," enhances chip adaptability for different scenarios, expanding the application space for domestic chips [5] - The company has made significant contributions to AI chip applications, including deploying AI models in government services and public transportation systems [6] Group 3 - Dr. Chen Ning has been recognized for his contributions to the field, leading Yuntian Lifei to win multiple prestigious awards in AI technology [7] - The company actively participates in the formulation of industry standards, having contributed to over 60 standards in AI and chip technology [8] - Yuntian Lifei has over 1,000 authorized patents, including more than 700 invention patents, showcasing its innovation capabilities [8]