Group 1 - The Yantai Big Data Bureau has launched a high-quality data set collection initiative to implement the "Data Element × Three-Year Action Plan (2024-2026)" [1] - High-quality data sets are considered the "new oil" for developing artificial intelligence and promoting industrial intelligent upgrades, with significant strategic importance in the digital economy [1] - The collection covers 12 key industries including industrial manufacturing, modern agriculture, financial services, and 5 emerging fields such as low-altitude economy and intelligent driving [1] Group 2 - Yantai has made positive progress in high-quality data set construction, with representative projects like the "National 76 Industry Pollutant Discharge Permit Digital Chain Data Set" and "National 138 City All-Media Advertising Data Set" [2] - Ten projects from Yantai were included in the 2025 Shandong Province "Data Element ×" Innovation Application Project Subsidy List, ranking second in the province [2] - The initiative aims to discover exemplary high-quality data sets to promote data circulation and value release, injecting new momentum into digital transformation and high-quality development [2]

Core Viewpoint - GDS Holdings (GDS.US) saw a pre-market increase of 2.66% to $35.17, driven by Oracle's strong cloud business growth expectations, which has ignited enthusiasm in the data market [1] Group 1: Company Performance - Oracle Corporation announced that its cloud infrastructure revenue is expected to increase by 77% to $18 billion for the fiscal year 2026, exceeding Wall Street expectations [1] - The projected revenue for Oracle's cloud infrastructure is expected to rise to $32 billion, $73 billion, $114 billion, and $144 billion over the next four years [1] - Oracle reported an unrealized revenue obligation (contracted but unrecognized revenue) of $455 billion, a year-on-year increase of 359% [1] Group 2: Industry Insights - According to IDC, global IT investment in big data is projected to reach approximately $413.4 billion by 2025, with expectations to exceed $749.7 billion by 2029, reflecting a five-year compound annual growth rate (CAGR) of about 16.4% [1] - IDC forecasts that China's big data IT spending will reach $73.02 billion by 2029, accounting for about 10% of the global market, with a CAGR of approximately 20.5%, the highest growth rate globally [1] - The software and information services, government, telecommunications, and financial sectors are expected to be the largest contributors to big data technology market spending, collectively accounting for nearly 60% of the total market [1]

Summary of Key Points Core Viewpoint - The company, Beijing Haitai Ruisheng Technology Co., Ltd., is providing a guarantee of up to 50 million yuan for its subsidiary, DATAOCEAN AI PTE. LTD., to support its overseas data business expansion and operational needs [1][2]. Group 1: Guarantee Details - The guarantee amount is set at a maximum of 50 million yuan, with no prior guarantee balance [1]. - The guarantee does not involve any counter-guarantee [1]. - The total external guarantee amount, including this guarantee, will not exceed 6.73% of the company's latest audited net assets [4]. Group 2: Company and Subsidiary Information - DATAOCEAN AI PTE. LTD. is a holding subsidiary established in Singapore in September 2024, with a registered capital of 50,000 USD [3]. - The company holds a 51% stake in DATAOCEAN AI PTE. LTD., while the major shareholder, PRIDE AI HOLDING LIMITED, holds 49% [3]. - The subsidiary reported total assets of 395.46 million yuan and a net profit of -11.78 million yuan for the first half of 2025 [3]. Group 3: Decision-Making Process - The board of directors approved the guarantee at a meeting held on September 5, 2025, and the matter will be submitted for shareholder approval due to the subsidiary's asset-liability ratio exceeding 70% [2][4]. - The board believes that providing this guarantee aligns with the company's global strategic layout and is within a controllable risk range [4].

Group 1 - The Jiangsu Provincial Data Group held a seminar on data application scenarios and demands in the cultural tourism industry to accelerate the development, circulation, and value release of data resources, aiming to empower the transformation and innovation of the cultural tourism industry [1] - The Provincial Department of Culture and Tourism is advancing the construction of the Jiangsu Smart Cultural Tourism Platform, which aggregates large-scale public data resources across various dimensions, including visitor flow at A-level scenic spots and safety monitoring of cultural tourism venues [1] - The Provincial Data Group is focused on building a secure and trustworthy data development and utilization foundation, supporting diverse data providers to develop and utilize public data in a compliant environment, and forming a data resource pool by integrating enterprise operations and consumer behavior data [1] Group 2 - The Provincial Data Exchange will continue to play a "hub platform" role, collaborating with cultural tourism industry authorities, key scenic spots, cultural institutions, and AI companies to gather quality data resources and products, promoting the construction of a "Cultural Tourism Industry Zone" [2] - The Jiangsu Public Data Platform has been established, integrating public data from provincial departments and fully connecting with the public data authorization operation platform, providing a solid foundation for the development and utilization of public data [2] - Representatives from leading data service providers shared their practices and future needs, emphasizing the importance of accelerating the authorization operation of public data in cultural tourism to empower product innovation, service upgrades, and refined management, contributing to the high-quality development of Jiangsu's cultural tourism industry [2]

Investment Rating - The report maintains a "Buy" rating for the company [1][4] Core Views - The company's computing power revenue is beginning to scale, with promising growth expected in the future [1][4] - The company reported a significant increase in revenue and net profit for the first half of 2025, with operating income reaching 4.944 billion yuan, a year-on-year growth of 38.18%, and net profit attributable to shareholders of 432 million yuan, a year-on-year increase of 20.76% [3][4] Business Performance Summary - The company's revenue growth is primarily driven by the rapid development of computing power services, deep integration of server remanufacturing resources, and synergies from IoT smart terminal products and storage business [4] - Revenue breakdown for H1 2025: - Data storage devices: 1.835 billion yuan, down 20.82% year-on-year, with a gross margin of 10.28% - Smart computing products and services: 1.221 billion yuan, up 100% year-on-year, with a gross margin of 20.6% - IoT smart terminals: 875 million yuan, down 11.61% year-on-year, with a gross margin of 34.45% - Server and peripheral remanufacturing: 835 million yuan, up 110.49% year-on-year, with a gross margin of 9.95% [4] Financial Forecasts - Projected operating income for 2025-2027 is 10.952 billion yuan, 14.515 billion yuan, and 18.547 billion yuan respectively, with net profits of 1.087 billion yuan, 1.578 billion yuan, and 2.082 billion yuan respectively [5][6] - The company expects a revenue growth rate of 47.81% in 2025, 32.53% in 2026, and 27.78% in 2027 [6][10] - The diluted earnings per share are projected to be 3.14 yuan in 2025, 4.56 yuan in 2026, and 6.02 yuan in 2027 [6][10]

Group 1 - The core viewpoint of the news highlights that Inno Asset has conducted research on a listed company, Haitan Ruisheng, which is expected to see a revenue growth of 69.54% in the first half of 2025 due to comprehensive growth in computer vision, natural language, and intelligent voice businesses [1] - The revenue contributions from computer vision and natural language are 40% and 14% respectively, while the growth of intelligent voice is relatively stable [1] - The company has established partnerships with Huawei for the Ascend integrated machine and the Shaanxi Smart Cultural Tourism project, becoming an important data supplier for China Mobile and participating in the AI community renewal [1] Group 2 - In terms of data elements, the company has formed joint ventures in Chengdu, Changsha, and Baoding, and signed agreements in Hohhot to expand cooperation in over ten cities including Shanghai and Guangzhou [1] - The overseas expansion includes the acquisition of a delivery base in the Philippines and the establishment of subsidiaries in Hong Kong, New York, and the United States, with plans to advance into Japan, South Korea, and the European Union [1] - The company is also involved in the field of embodied intelligence, co-building data training grounds and launching an engineering service platform, with core competitive advantages in dual-mode service products, technology platforms, supply chain management, and data security compliance capabilities [1]

Core Insights - The report titled "China Data Element Development Report (2025)" highlights six core trends in the development of data elements in China, emphasizing the strategic importance of data in the digital economy [1] - The report identifies five major bottlenecks that need to be addressed for the development of data elements, including difficulties in top-level design implementation and supply-demand imbalances [2] - The report outlines three major prospects for the market development of data elements, indicating an acceleration in market growth driven by policy, technology, and demand [3] Group 1: Key Trends in Data Element Development - Top-level design is being anchored at a strategic height, with the central government emphasizing the resourceization of data as a milestone for industry development [1] - The institutional framework is gradually improving, with significant breakthroughs in foundational systems, including the establishment of data asset accounting practices [1] - Application scenarios are expanding across multiple fields, showcasing the empowering effects of data in manufacturing, smart city construction, and modern finance [1] Group 2: Bottlenecks in Data Element Development - Implementation of top-level design faces challenges due to policy discrepancies across regions, leading to "policy islands" that hinder data integration [2] - There is a supply-demand imbalance, with some entities reluctant to share data due to security and rights concerns, complicating data accessibility for demand-side users [2] - Guidance for data asset incorporation into financial statements is insufficient, particularly for listed companies, necessitating improved operational guidelines [2] Group 3: Market Development Prospects - The market is expected to accelerate, driven by a combination of policy, technology, and demand factors [3] - Scene-based applications are identified as the core of value creation, emphasizing the need for data to be integrated with real-world scenarios [3] - Data governance is transitioning from a labor-intensive model to an intelligence-intensive model, leveraging automation and AI technologies for efficient and secure data utilization [3]

Group 1 - The 2025 "Data Element ×" competition will have its Guangdong division set up in six locations, including Guangzhou, featuring 14 tracks such as industrial manufacturing [1] - The event serves as a platform to observe the latest explorations and practices of data elements empowering various industries [1]

Group 1 - The "Data Elements × AI Integration Innovation Summit" focused on the development trends of data assets, emphasizing their importance in enhancing corporate competitiveness and enabling digital transformation [1] - Data intellectual property is crucial for protecting data assets and driving the innovative potential of value release, with internal efficiency improvements and external protection mechanisms highlighted as key strategies [1] - Data asset securitization is seen as a solution for small and medium-sized enterprises to overcome financing challenges, allowing them to unlock the value of intangible assets without affecting their usage [2] Group 2 - The establishment of a data elements market ecosystem is essential for the assetization of data, requiring the integration of policies, technology, talent, and finance to address pain points in the data assetization process [3] - The Guangdong Data Elements Industry Association has been actively promoting research and practical exploration in data assetization, aiming to lower costs and facilitate the monetization of data assets for small and micro enterprises [3] - A collaboration agreement was signed among various industry leaders and institutions to create a comprehensive service ecosystem for data assets, enhancing support for enterprises in the Shenzhen (Qianhai) International Data Industry Park [4]

Core Insights - Jiangsu has released a list of key areas for the construction of high-quality datasets, aimed at fostering innovation in artificial intelligence large model technology and enhancing industrial ecosystems [1] Group 1: Key Areas of Focus - The first batch of construction lists targets 16 key areas including industrial manufacturing, transportation, healthcare, scientific research, financial services, cultural tourism, urban governance, human resources, green low-carbon initiatives, rural agriculture, smart energy, education, business, emergency management, meteorological services, and public safety [1] - In addition to the key areas, the list also includes high-quality datasets for general large models, cross-border data, and government services [1] Group 2: Impact on Society - The "Health Information Dataset" in the healthcare sector integrates various medical and public health functions, providing support for health analysis, disease monitoring, clinical decision-making, public health emergency response, and medical quality monitoring [1] - The "Human Resources and Social Security Industry Dataset" consolidates information on individual and corporate social security contributions, vocational qualifications, labor arbitration, and labor inspection, enabling precise public service and credit evaluation [1]